Chelsea Signs Shipbuilding Contract with Fukuoka Shipbuilding Co. Ltd.

Chelsea Logistics and Infrastructure Holdings Corp. (PSE: C) inked a shipbuilding agreement with Fukuoka Shipbuilding Co. Ltd. for the construction of a 123-meter Passenger Ship Roll onRoll Off. The Agreement was signed by the parties on 20 June 2019 at Chelsea’s office at Fort Legend Tower, Taguig City.

Present at the signing ceremony were Chelsea Chairman Dennis A. Uy, Chelsea President & CEO Chryss Alfonsus V. Damuy, Fukuoka President Keiji Tanaka, and Far East Engineering Consultant Co. Ltd. President Tsuneki Yoshida.

The passenger ferryship which can carry a total of 1,085 passengers, 24 buses, and 11 trucks, is scheduled to be delivered in June 2021.

Fukuoka has a history of partnership with Philippine shipping companies, as in 1995 Fukuoka built for Southwest Maritime Corp., a Philippine- registered Company, 2 x 3500 CBM pressure type LPG Carriers.

“Our thrust of improving the shipping and logistics industry, together with Fukuoka’s more than seven decades of shipbuilding expertise, will allow us to accommodate the growing number of passengers in the Visayas and Mindanao regions while employing a significant number of Filipinos onboard. We are certain that we can count on Fukuoka’s leadership and look forward to joining hands with them as we continuously create long-term value for our stakeholders,” said Chelsea President & CEO Chryss Alfonsus V. Damuy.

ABOUT THE COMPANY

Chelsea Logistics and Infrastructure Holdings Corp. (C) is the fastest growing shipping and logistics company in the Philippines. Established on 26 August 2016, CLC was created to act as the holding company of the shipping and logistics arm business segments of the Udenna Group of Companies. On August 8, 2017, the Company went public and its shares of stock were initially listed at the Philippine Stock Exchange (PSE). The Company is engaged in shipping and logistics businesses with key segments divided into: (i) Charter, (ii) Passage, (iii) Freight, (iv) Tugboat services, and (v) Logistics services.

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