China Shipyard Tackles First PSV Order

JES International subisidiaries JES Universal Co. and Jiangsu Eastern Heavy Industry Co. Ltd. to build a UT 755 LN Platform Support Vessel.

The contract is the Group’s first, in over thirty years of its history, for the construction of an offshore support vessel and is representative of the Group’s expansion from building commercial shipping vessels to constructing more complicated and sophisticated offshore support vessels.

Secured from a new customer based in Norway, delivery of the vessel is expected to be at the end of FY2014. “As the shipping industry remains in the doldrums, it is part of the Group’s strategy to maximise, enhance, and leverage on our capabilities to explore growth opportunities beyond the commercial shipbuilding industry into the more robust offshore oil and gas sector to enhance shareholders’ value.” Mr. Jin Xin, Chairman and Chief Executive Officer, JES.

JES products, which are ISO 9001:2000 certified, include bulk carriers, oil tankers, containerships and other types of ocean-going vessels. The Group operates from its shipyard located at Shiwei Port, Jingjiang City, Jiangsu Province, PRC.