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China SWS Build More Carriers for Foremost Group

On December 19, Shanghai WAIGAOQIAO Shipbuilding (SWS) formally signed a new contract for the construction of two 210 million ton Newcastlemax bulk carriers in New York City with the Foremost Group.

As a world-renowned shipping management company, the Foremost Group is a very important partner of SWS. The first cooperation between the two parties began in 2002. After more than a decade of good cooperation, SWS successfully built and delivered more than 10 bulk carriers for the Foremost Group. Both parties have built a very good partnership and deep friendship. The official signing of this contract fully demonstrates the recognition and trust of the Foremost Group in respect of the SWS and will further consolidate the cooperative friendship between the two parties.

The newly signed two 210,000-ton bulk carriers are the Newcastle-type bulk carriers of the world's largest DWT in its class. The vessel meets the latest NOx Tier III requirements, with the first installation of desulphurisation equipment on major global bulk carriers to meet sulfur oxide emissions requirements.

About SWS:

SWS is a wholly owned subsidiary of China CSSC Holding Ltd., a publicly listed company controlled by China State Shipbuilding Corporation (CSSC).

SWS owns Shanghai Waigaoqiao Shipbuilding and Offshore Co.,Ltd.(SWS OFFSHORE), and controls Shanghai Jiangnan Changxing Heavy Industry Co.,Ltd.(SCH), Shanghai Waigaoqiao Shipbuilding and Offshore Engineering Design Co.,Ltd. (SWS Engineering), Shanghai CSSC Marine Boiler Co., Ltd.(CSSC Marine Boiler), CSSC Shenghui Equipment Co., Ltd.(CSSC Shenghui), which also owns shares of Shanghai Jiangnan Changxing Shipbuilding Co., Ltd. (SCS).

The main business of SWS covers design, construction and repair of marine vessels and offshore products. SWS builds Bulk Carriers, Oil Tankers and Container Ships. The Company has delivered 11.3% of world’s fleet of Capsize Bulk Carriers (SWS-170K/200K DWT BC), 8.3% of world’s fleet of VLCC (SWS-300K DWT VLCC). In the offshore sector, the Company’s production line covers FPSO, deepwater semi-submersible drilling rigs, Jack-ups, drillships, PSV, OSV, VLGC and mini LNG carriers.

Since 2005, SWS has been ranked at the top for consecutive years for both production and efficiency in China’s shipbuilding industry. In 2011, SWS became the first shipyard in China with an annual delivery over 8 million DWT (36 vessels in total), and hence known as the “Number One Shipbuilding Company in China”.

Editor: Carrie Zhu

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