Singapore: Pacific Shipping Trust Receives Its First Capesize Bulk Carrier

The Board of Directors of PST Management Pte. Ltd. (“PSTM”), as Trustee-Manager of Pacific Shipping Trust (“PST”), announced that PST has taken delivery of its 180,000 DWT capesize bulk carrier, M/V Shagang Hongfa, from Hyundai Heavy Industries Co., Ltd., on 5 September 2011.

About Pacific Shipping Trust

Pacific Shipping Trust is the first business trust listed on the SGX-ST. It provides structured financing solutions to all sectors of the shipping industry including containerships, bulk carriers, and multi-purpose vessels, thereby generating visible and stable cashflow stream through long-term charters. By acquiring vessels and leasing them to reputable charterers on long-term bareboat or time charters, PST seeks to generate a steady stream of high- yielding income for its Unitholders.

The trustee-manager of PST is PST Management Pte. Ltd., a wholly-owned subsidiary of Pacific International Lines (Private) Limited, one of the largest private shipowners and operators in South East Asia.

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Source: Pacific Shipping Trust, September 6, 2011.