Captain Young Kim

FOR IMMEDIATE RELEASE

(April 3, 2007) Singapore

International Registries, Inc. (IRI), the Maritime and Corporate Administrator of the Republic of the Marshall Islands, has opened a new representative office in Seoul, Korea, under the direction of Captain Young Kim.

The office will provide a range of services including vessel registration, inspections and professional consultation services to shipowners.

Captain Kim’s previous role was as Managing Director of Korean Adjusters and Surveyors Corporation (KASCO). His experience also includes ten years with Hyundai Shipping Co. where he acted in the capacity of Branch Manager in their Tokyo and New York offices. Captain Kim is a Master Mariner fluent in English, Japanese, Chinese and Korean. He is a member of many professional maritime organisations including the Korean Marine Safety Association and Germanischer Lloyd’s Korean Shipbuilders Committee.

“Captain Kim brings more than 30 years of maritime knowledge and experience of the Korean shipping industry to the Marshall Islands Registry and we are confident that he will enhance service levels to our customers in Korea as well as other parts of Asia,” said Annie Ng, Managing Director of International Registries (Far East) Ltd. at the Sea Asia conference in Singapore.

In other news, IRI will be expanding its Singapore office in order to manage the growth in registration transactions taking place in the Lion City office. Shawn Tan, former Senior Executive of IMC Shipping Company Pte. Ltd., manages the Singapore office which is under the direction of Annie Ng.

“The influx of European owners establishing regional offices in Singapore combined with growth from local owners has resulted in a significant increase in the number of vessel registrations. We have also strengthened our South East Asian regional inspection capabilities with Marshall Islands inspectors operating regularly out of the Singapore office,” concluded Ms. Ng.