Chelsea Shipping Corporation (CSC) recently signed contracts for the purchase of a 6,000 MT HULL CYC – 108 Oil Tanker in Hongkong. The vessel, which is undergoing construction in Taizhou Zheijiang Province, China, is set to be delivered by June 2008.

Present during the contract signing were: From CSC, Mr. Dennis Uy (President and CEO), Mr. Manny Quimson (General Manager), Mr. Ramon De Vera (Senior Financial Adviser), Atty. Rolando Javier (Legal Consultant) and Mr. Manuel Puey (President, PNOC Shipping Transport Corp).

Also present were Wenlin Tianyu Ship Charting Co. Ltd., representatives Mr. Ding Yu and Mr. Jin; Dir. Wang Xiaohai of China Shipbuilding Trading (Shanghai) Co.; and Managing Dir. Fung Wing Ha of China Shipbuilding & Exports Corp. (BVI).