Vice President of CSSC Mr. Nan Daqing investigated SWS

On the morning of November 13th, Mr. Nan
Daqing, the Party Member and Vice President of CSSC, inspected SWS and asked
for the information of the vessels under construction. Mr. Nan Daqing also
brought up requirements for SWS to deal with current production situation. The
executives Mr. Sheng Jigang, Mr. Chen Weiping, Mr. Zhou Qi, Mr. Wu Yongjun, Mr.
Wu Aijun and relevant department heads participated in the investigation.

During the inspection, Mr. Sheng Jigang, the
deputy secretary of the Communist Party and President of SWS reported the
overall situation of the vessels under construction and emphatically gave an
account of the production status of COSCO Shipping¡¯s  project and the corresponding measures in detail.

Nan Daqing affirmed SWS¡¯s achievements in production
management and operation of order receiving. He pointed out that, in the
current market environment, SWS should take the initiative and make adequate
communication with shipowners and shipbuilding supervisors to ensure shipyard
obtain the same information as shipowners. It is requested that SWS ought to
make persistent efforts, accomplish the company¡¯s annual target and the various
evaluation indexes issued by the CSSC, make an in-depth assessment of each
vessel under construction and make detailed production plan to ensure a high
corresponding ratio and feasibility of the plan. Nan Daqing
emphasized that, safety and quality are the core elements for the steady
development of the enterprise, it is necessary to integrate safety production
into the daily management of the enterprise and do a good job in quality
process management to create a high-quality brand advantage of the enterprise.

Lin Feng, Vice president of CSTC, and relevant personnel from CSSC General
Office accompanied the investigation.                                                                                       

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