China: JES Adds Second PSV to Its Offshore Support Vessels Order Book

Mainboard-listed JES International Holdings Limited (JES), a major shipbuilding group based in the PRC, announced that it has entered into a shipbuilding contract for one unit of UT 755 LN Platform Support Vessel (PSV) through its wholly owned subsidiaries, JES Universal Co. Private Limited and Jiangsu Eastern Heavy Industry Co. Ltd.

This is the Group’s second contract secured since it expanded its shipbuilding business into the offshore oil & gas industry with its first order for a PSV as announced on 8 October 2012. The second contract was secured from the same customer based in Norway, and is also scheduled for delivery at the end of FY2014. With the new order, JES now has a total of 2 PSVs in its offshore support vessels order book.

The Group has also entered into contracts for the construction of two additional PSVs, which shall only become effective in the coming months. The two additional PSVs have not been included in the order book as the Group only recognises effective contracts. The Group shall follow with further announcements as and when the contracts become effective.