ASL Marine secures seven orders

Singapore-based ASL Marine Holdings Ltd. which owns shipyards in Singapore, Batam

(Indonesia) and Guangdong (China), secured new shipbuilding contracts worth S$96 million ($67 million) for the construction of seven vessels. The seven vessels include two emergency response and rescue vessels, one water injection dredger and four 80-ton bollard pull rotor tug vessels. All seven vessels are secured for existing European customers.

The vessels will be built at ASL Marine’s Singapore shipyard. The two emergency response and rescue vessels and the water injection dredger are expected to be completed in 2009. Three of the four rotor tug vessels are expected to be completed in 2011, while the fourth unit is scheduled for completion in 2012.

Commenting on the new contracts, Ang Kok Tian, Chairman and Managing Director of ASL said “These new vessels will be built at our Singapore shipyard. The Group has been expanding and upgrading its shipyard capacity and capabilities to handle the

building of more sophisticated vessels where requirement for quality, statutory

compliance and safety are extremely stringent. Our hard works have been

rewarded with higher value contracts from our customers. ASL Marine has successfully established itself as a niche builder for specialized vessels in the European market. Most of our orders come from repeat customers who are confident of the quality that we can deliver.”