Booming Opportunities in Asia

October 11, 2003

Harry Xia, Vice President of Skaarup Shipping, today met with Mr. Wu Zhongxiao, CEO of China Shipping (Hong Kong) Holdings Ltd, in Hong Kong. Also joining the meeting is Mr. Yan Zhichong, President of China Shipping Marine Ltd., a well-known ship fleet owner in Hong Kong.

Mr. Xia and Mr. Wu reviewed the performance of cooperation between two companies in the past ten years and expressed their satisfaction. The two companies showed great interest in developing business in self-unloading service and explored the possibility of further cooperation through time chartering or joint venture.

Aimed to explore the booming opportunities in Asia, Mr. Xia is taking a three week business trip to Hong Kong, Singapore, and China. He is visiting some long-time and prominent clienteles respectively, such as Sun Jiakang, CEO of Cosco Pacific, C. C. Liu, CEO of Parakou, and Peter Chew, Managing Director of IMC.