ASL Marine Secures Contracts

ASL Shipyard Ltd has secured new shipbuilding and fabrication contracts worth a total of $68.2m for construction of one unit Self-Propelled Cutter Suction Dredger and the fabrication, outfitting and reinstatement works to a Heavy Transport Vessel.  The shipbuilding contract for the Self-Propelled Cutter Suction Dredger is secured from a long-term customer of the Group and it is expected to be completed in 2011. The scope of shipbuilding works includes the installation of certain equipment to be furnished by the

customer.

The contract for the fabrication, outfitting and reinstatement works to a Heavy Transport Vessel involves the installation of grillage and skidbeams. The contract works are expected to be completed in August 2009.