Nordcapital Orders 8 Container Vessels

Maritime Activity Reports, Inc.

July 30, 2007

K.S. Choi, President of Hyundai Heavy Industries and Erck Rickmers, Chairman of the Executive Board of the Nordcapital Group, in Ulsan, South Korea.

Nordcapital Group and Hyundai Heavy Industries (HHI) have signed contracts for the construction of eight container vessels with a capacity of 13,100 teu. The ships, which are the biggest container vessels ever built by HHI, will be delivered between April 2010 and March 2011 and are still available to the charter market. They represent an order volume of $ 1.4b , the largest single order HHI ever received for commercial ships. The design features latest technological and ecological requirements including environmental passport, an economic main engine fitted for low sulphur fuels, TBT free paint coatings and inboard fuel tanks.

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