Yantai Delivers MODU to Norway-Based Marine Subsea

Yantai Raffles Shipyard Limited ("YRS") has successfully delivered a 350-man Accommodation Barge MODU (Mobile Offshore Drilling Unit), to Norway-based Marine Subsea AS ("Marine Subsea").

This high-standard work barge, intended for the support of offshore activities, is built to ABS (American Bureau of Shipping) Class + A1 requirements. With the overall length measuring at 102 metres and overall width at 30 metres, the accommodation barge, named 'African Caribe', is equipped with a 150 metric ton crawler crane and capable of accommodating up to 350 personnel.

Mr Brian Chang, Executive Chairman of Yantai Raffles Shipyard Limited, said, "We are glad to have developed a strong working relationship with Marine Subsea and our outsourcing partners. Yantai Raffles will continue to work closely with our clients and vendors, so as to deliver high quality projects to our customers."

Yantai Raffles is expected to deliver a second unit for up to 400 persons to Marine Subsea before the end of 2008.