China Shipyard Delivers Bulk Carrier to Greek Owners

Press Release
Thursday, March 29, 2012

COSCO Dalian Shipyard has delivered a 57.000 dwt bulk carrier to Common Progress Co Na S.A. of Athens

COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, "COMMON FAITH", to its European buyer. The bulk carrier measures 189.99 meters in LOA, 32.26 meters in breadth and 18 meters in depth.

The COMMON FAITH is equipped with a MAN 6550MC-C Mk.7 slow speed main engine, and three gensets type MAN 5L23/30H (720 PS). A single deck crane by McGregor is also fitted.

Common Progress Co Na S.A. was established in 1983. The company, backed by major shipping banks, has concentrated in the dry bulk sector, investing in a substantial number of vessels, ranging from handysize to panamax. Taking advantage of the cyclicality of the market, the company renews and expands its fleet through second-hand and newbuilding purchases.

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