JES International Inks Option for Four Newcastlemax Bulk Carriers

The Board of Directors of JES International Holdings Limited through its wholly owned subsidiaries, Jiangsu New East Marine Engineering Co. Ltd, has signed an option for the construction of further 4 Newcastlemax bulk carriers.

The value of the vessels signed under the option is approximately US$212 million. The option is signed with the same European customer announced on 28 February 2014. The delivery of the vessels under the option, if exercised, is expected to take place after 2016.

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JES International, March 6, 2014