Dongfang Shipbuiliding Shares to Trade

According to a report on www.rttnews.com, Dongfang Shipbuilding Company Limited intends to seek admission of its shares to trading on the AIM market of the London Stock Exchange. Dealings are expected to commence on AIM on 18 August 2011. Dongfang diversified into shipping, owning and operating six 9,000 dwt chemical tankers and one 9,200 dwt chemical tanker, out of Singapore and Hong Kong. The Group currently has about 530 full time employees across the two businesses.
The Group has recently moved into the production of 3,200 DWT chemical stainless steel vessels. The shipbuilding order book as at June 30, 2011, according to the report on RTT News, amounted to around $89m. The contracted delivery dates of new vessels and those under construction are between August 2011 and January 2014.
(Source: RTT News at www.rttnews.com)