On the morning of November 9, 2023, the 2,400 TEU container vessel "CUL QINGDAO," constructed through a collaboration between CULines, Yangtze River Shipbuilding Group, and Pudong Development Bank Financial Leasing, was successfully named and delivered at the Zhongtai Terminal of Yangtze River Shipbuilding in Jingjiang, Jiangsu.

The ceremony was attended by Ren Letian, Chairman of Yangtze River Shipbuilding Group, Chen Xiang, Vice President of Pudong Development Bank Financial Leasing, Wang Gangyi, Chief Engineer of SDARI, Xue Maogen, President of Lloyd's Register Greater China, Captain Umesh Lulla, Managing Director of Bernhard Schulte Shipmanagement (China), Liu Shijun, CEO of Beijing Xinyusheng Ship Management, Wen Guang, General Manager of Haifeng Shipping Agency, Raymond Chen, Chairman of CULines, Kevin Ding, President of CULines, as well as partners, media representatives, and employee representatives of CULines.

Ms. Yuan Wenjing, the ship's godmother, named and christened the CUL QINGDAO vessel by cutting the mooring ropes and breaking a champagne bottle.

Naming and Blessing Ceremony

Ren Letian, Chairman and General Manager of Yangtze River Shipbuilding Group, and Kevin Ding, President of CULines, delivered speeches.

Representatives from the three parties, including Teo Yew Ping, Vice President and President of Overseas Headquarters Singapore of CULines, Yan Zhonglu, General Manager of Shipping Department of Pudong Development Bank Financial Leasing, and Geng Hongwei, General Manager of Yangtze River Shipbuilding Yangzichangbo, signed the ship delivery documents.

Raymond Chen, Chairman of CULines, presented commemorative gifts to Pudong Development Bank Financial Leasing, Yangtze River Shipbuilding Group, and the ship's godmother.

CUL QINGDAO

CUL QINGDAO is the latest 2,400 TEU feeder container vessel designed by Shanghai Ship Design Institute. It meets international advanced standards and demonstrates excellent performance in terms of energy efficiency, environmental protection, and carrying capacity. In line with CULines' commitment to social benefits and environmental protection, the vessel is equipped with environmental protection facilities such as desulfurization towers and shore power, as well as intelligent ship management, energy consumption monitoring, and data analysis systems. It also provides satellite data communication and network services to crew members. These initiatives reflect CULines' corporate mission of "Carrying Yours Loyally", emphasizing social benefits and environmental protection.

The delivery of CUL QINGDAO marks a significant collaboration milestone between CULines and Yangtze River Shipbuilding Group, two privately-owned shipping and shipbuilding enterprises. This collaboration aligns with the government's policy of promoting the development of the private economy. It is also the first successful delivery among the four newbuilding container vessels jointly ordered by CULines and Pudong Development Bank Financial Leasing, showcasing the integration of industry and finance.

CUL QINGDAO is the first newly constructed vessel delivered by CULines this year. Its delivery will optimize the company's fleet structure and operating costs, and it will be deployed on the East China route. In the first quarter of next year, three more vessels with capacities of 2,400 TEU and 2,700 TEU will be delivered. CULines aims to deploy and allocate capacity reasonably and flexibly on service based on market demand and changes in supply and demand. The company aims to leverage the cost advantages and operational efficiency of the new vessels, providing high-quality services to customers and contributing to sustainable development.