The autumn sends us fragrance of laurel
trees in the golden September, while the drying heat of summer is swept away by
breezy autumn wind. In the morning of September 27th, on the occasion of the
approaching of 68th anniversary of the country, H1347, a 180K DWT Capesize Bulk
Carrier bearing the Hull number of H1347 built for HERUN GROUP by SWS, was
delivered at SCH successfully. Mr. Nan Daqing, Vice President of CSSC; Mr. Yu Songbo,
Chairman of Board of Directors of HERUN GROUP; Mr. Zhao Hongwei, President of
AVIC Capital Co., Ltd (AVIC Capital); Mr. Zhou Yong, Chairman of AVIC
International Leasing Co., Ltd (AVIC Leasing); Mr. Wag Qi, Chairman of SWS; Mr.
Sheng Jigang, President of SWS; together with other leaders and over 50 guests
from all circles, attended the naming ceremony. Mr. Chen Weiping, Vice
President of SCH, hosted the ceremony.

At the ceremony, Mr. Wang Qi, Mr. Yu
Songbo and Mr. Zhou Yong delivered their ardent speeches respectively. While
speaking highly of the progress made, difficulties overcame, and friendship
established together, the three parties unanimously agreed to closely grasp the
historical opportunity; actively involved in the building of ¡°the Belt and Road¡±;
serve the national strategic security; deepen the communication in fierce
market competition; expand broader cooperative space; and join hands to meet
the brighter future together.

With the blessing of the crowd, Mrs. Pan
Jing named H1347 to be ¡°HE RUN ZHOU SHAN¡± and wished her every success and
always safe while bringing endless wealth and luck to every related party.

H1347 is the last 180K DWT Bulk Carrier
among the vessels ordered by HERUN GROUP via AVIC Leasing from our company.
During the construction of this vessel, the owner, classification society, stake
holders and vast shipyard staff trusted and respected each other, gave full
play to the spirit of solidarity and coordination, overcame numerous
difficulties, and jointly built a ¡°Star¡± vessel with excellent performance and
first-class indicators. It is learnt that H1347 is the 26th vessel delivered by
SWS this year, and it is also the 99th vessel successfully constructed and
delivered by SCH since its foundation. In the future, SCH will expedite the
construction pace, try to deliver the 100th vessel as soon as possible, and realize
the legendary goal of ¡°delivering 100 vessels within 10 years¡± perfectly.

It is also learnt that H1352(¡°MARFA¡±),
the third 158K DWT Suezmax Crude Oil Tanker built for TMS TANKERS under Greek
Ship owner Cardiff Marine Inc., was successfully delivered in the afternoon of
the same day.

The Delivery Ceremony was held at the
15th floor of the science and technology building. Mr. George Pertsas, Site
Manager of owner¡¯s site supervision team, Mr. Huang Kai, Vice President of
Europe Department of CSTC and Mr. Li Hui, Assistant Director of Sales and
Marketing Department of SWS joined the ceremony and signed the delivery
documents on behalf of each party. Mr. Wu Yongjun, Assistant President of SWS, Mr.
Ioannis Davaris, New Shipbuilding Superintendent of TMS TANKERS; Mrs. Betty
Cheng, Site Manager of Wah Kwong supervision team as well as other
representatives from CSTC and SWS shipyard were also invited to the ceremony
and witnessed the signing.

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