Company Acquires China Shipping LNG Investment Company — Establishes JVs with Sinopec & PetroChina

The Company acquired China Shipping LNG Investment Company Limited from China Shipping Group. Three joint ventures were established with Sinopec and PetroChina. Cooperating with MOL, the joint ventures ordered 10 LNG vessels in July 2011 and April 2013, of which 6 vessels are controlled by the Company.

Foundation for LNG Growth

The acquisition of China Shipping LNG Investment Company Limited provided the corporate foundation for CS Tanker's entry into the LNG carrier segment. The subsequent establishment of joint ventures with Sinopec and PetroChina created the commercial framework for long-term LNG transportation contracts.