ES Group Updates Singapore Bunker Barge Deliveries

One vessel has arrived in Singapore waters, and the other is to be delivered in Q1 2013.

Sea Tanker I has arrived in Singapore waters and is currently undergoing local certifications and surveys. It is now expected to be delivered to the charterer by the first quarter of 2013 instead of the planned second half of 2012.

Sea Tanker II, which will be sold to the charterer of Sea Tanker I (the purchaser), is currently undergoing commissioning and sea trials in Thailand, and is now expected to be delivered to that purchaser by the first half of 2013 instead of the planned 2H2012.

Barring any unforeseen circumstances, the demise charter of Sea Tanker I and the sale of Sea Tanker II, in aggregate, is expected to contribute to the Group’s financial performance in the financial year ending 31 December 2013.