Bangladesh: Export Ship Newbuilding Orders with class Germanischer Lloyd

Chittagong/Bangladesh, 25 March 2008 - Bangladesh shipyard Highspeed has won an order of eight 4,500 dwt multi-purpose vessels by Dutch shipping company Hollander Schultens. The ships will be built to Germanischer Lloyd class. Construction of the vessels with ice class will start in December 2008. The delivery of all units is scheduled to be completed by April 2012. Until then the yard will upgrade its facilities and add modern equipment. This will include the expansion of the dry dock as well as covered sheds and machinery. Highspeed Shipbuilding and Engineering Company Ltd, based in Fatullah, Narayanganj, is the country's oldest shipyard. It specializes in small river cargo and passenger vessels up to 3,000 tonnes and has built over 100 of these since 1961. It is the third shipyard in Bangladesh to receive export orders. "The order with Highspeed Shipbuilding is another great step forward for the shipbuilding industry in Bangladesh", C.F. Zaman, Germanischer Lloyd Country Manager Bangladesh, is convinced. The classification society has been represented in Bangladesh since the mid-1980s. An export order for twelve 5,500 dwt multipurpose vessels at Ananda shipyard in November 2007 will also be built to Germanischer Lloyd class. The construction of five multi-purpose dry cargo vessels at Western Marine shipyard has just begun. The first two keels for the 4,100 dwt vessels were laid at the end of February. The ships were ordered from Danish Stella Shipping and will be built with GL class. About Germanischer Lloyd Technical competence, uncompromising quality and first-class service are the prime assets of the classification society Germanischer Lloyd (GL). >From the foundation in 1867, the core competence has been to set standards in technology, safety and quality for the maritime and industrial sector. In 2007, Germanischer Lloyd turned 140 years old. Germanischer Lloyd is the market leader in the classification of containerships. Every second containership is built according to GL Rules. Devoted to promoting innovation, sustainability and environmental protection, Germanischer Lloyd also covers all other ship types such as tanker, bulker, multi purpose vessels, high speed ferries and cruise ships. More than 6,500 vessels with 72 Mio GT sail with GL class. The current newbuilding orderbook contains more than 1,800 vessels with 32 Mio GT. While headquartered in Hamburg, Germany, Germanischer Lloyd has established a global network of 191 offices in 76 countries. 4,200 employees, engineers and other experts, create value for the customers in a consistent manner worldwide. Press contact: Germanischer Lloyd Press and Information Tel. +49 (0)40-36149-4509, Fax +49 (0)40-36149-250, pr@gl-group.com Your contacts are Dr. Olaf Mager and Stefanie Normann-Birkholz. This press release is available at www.gl-group.com.