Brief introduction of changhang phoenix co., ltd.

Changhang Phoenix (Hong Kong) Investment Development Co., Ltd. (hereinafter referred to as "Changhang Hong Kong") is a wholly-owned subsidiary of Changhang Phoenix Co., Ltd. (hereinafter referred to as "Changhang Phoenix"), which was established on June 3, 2007 with a registered capital of 9.95 million US dollars. Business scope: international shipping, ship leasing, agency and trade, cargo agency and trade. At present, Changhang Hong Kong is building four 92,500-ton bulk carriers, which are expected to be delivered from September 2009 to March 20 10.