YUJ Yujin Int (DI)

TIDMYUJ

RNS Number : 3035B

Yujin International Ltd

13 April 2012

13 April 2012

Yujin International Ltd ("Yujin" or "the Group")

Ship Building Update

Yujin International Ltd, the owner and charterer of a fleet of tankers operating in the Asia Pacific region reports an update on its new ship building programme.

As previously announced Yujin had contracted to build two new chemical tankers of 5,500 DWT each with a shipyard in China. The newbuilds were delayed significantly, however the Group had expected to take delivery of the first of the two vessels by 31 March 2012. The yard was unable to make delivery of the ship by that deadline.

The Board of Yujin has been considering the options available to it and is continuing to take advice as to its options at this juncture. Yujin has started completing the necessary formalities associated with cancelling these contracts including notifying the sellers and their guarantors of this. A further announcement will be made in due course.

For further information please contact:

   Yujin International Ltd.                                               Tel: 00 (65) 6226 2963 

Pris Peh

Keen Whye LEE

Or visit www.yujininternational.com

   Seymour Pierce Limited                                             Tel: 020 7107 8000 

Nicola Marrin

Catherine Leftley

This information is provided by RNS

The company news service from the London Stock Exchange

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