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10 February 2009

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

Admission to AIM

Yujin International Ltd, the owner and charterer of a fleet of tankers in the Asia Pacific region, is pleased to announce that dealings in its ordinary shares have today commenced on the AIM market of the London Stock Exchange under the ticker symbol 'YUJ'. 

Admission Statistics

Number of Ordinary Shares in issue at Admission	30,000,010
Price per Ordinary Share on Admission	£0.33
Market Capitalisation of the Company on Admission	£9.9million

The Company

The Yujin Group owns and charters a fleet of small range tankers (ships smaller than 10,000 DWT) in the Asia Pacific region which are chartered out, on both short and long term contracts, predominantly to companies providing bunkering services in the Port of Singapore. 

Despite the current global financial and economic conditions, goods must still be transported around the world and doing so by sea continues to be a cost efficient means. As such, bunkering facilities continue and will continue to be required. The Group's strategy for growth is to expand its fleet through the building of new, and/or the acquiring of existing, small range tankers as well as to strengthen its relationships with its prospective and existing customers.

The Group currently owns six tanker ships. Four of these ships are chartered out to companies providing bunkering services on charters of one or two years. The fifth ship, a chemical tanker, is currently chartered out in the spot market but is contracted to Shell for a period of 2 years which is expected to commence by the end of February 2009. The Group has recently taken delivery of a sixth ship, a specially constructed bitumen tanker, and she is already committed to a three year charter contract with Shell and this is also expected to commence by the end of February 2009, with the option to renew on an annual basis for a further two years. 

The Group has also chartered in two third party owned ships, the first of which is chartered out in the spot market and the second of which is currently being brought up to the agreed specification before it is then chartered out. These eight ships have a combined tonnage of approximately 38,210 DWT.

Highlights:

• Operating in Singapore, one of the busiest ports in the world, Yujin is well placed to take advantage of bunkering opportunities

• Strong Board and management team with proven track record

• Clear strategy for growth, expanding on its current fleet of eight ships over the next four years, as well as chartering in tankers to complement its owned fleet.

The Group has listed on AIM to continue its profitable growth and further facilitating the Company's international expansion. 

Commenting on the admission to AIM, Non-Executive Chairman Keen Whye LEE said:

'We are delighted that Yujin has successfully achieved the first non-technical admission to AIM of this year. We would like to thank Seymour Pierce for helping us achieve this in such difficult market conditions and look forward to the development of the Company as a publicly quoted company which will, we believe, provide the opportunity for expansion of the current fleet of vessels in one of the world's busiest ports.'

The Admission Document, including all definitions used in this announcement, is available on the Group's website at www.yujininternational.com

Seymour Pierce Limited is acting as Nominated Adviser and Broker to Yujin.

 

For further information please contact:

Yujin International Ltd

Keen Whye LEE                             Tel: 00 (65) 6226 2963

Bernard LIM

Seymour Pierce Limited                Tel: 020 7107 8000

Nicola Marrin

Catherine Leftley

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