Ocean Wilsons Holdings Limited

Vessel financing approval

Our principal operating subsidiary, Wilson Sons Limited made the following announcement to the Brazilian and Luxembourg Stock Exchanges.

Wilson Sons Limited ("Company"), in compliment to the press release disclosed on 1 September 2016, announces that its wholly-owned subsidiary Saveiros Camuyrano Serviços Marítimos S/A has signed a financing agreement with the Brazilian Development Bank ("BNDES"), as the financial agent for the Merchant Marine Fund ("FMM"). The financing of up to US$54 million is for the construction of 6 tugboats with azimuth thrusters. The vessels are designed by Damen Shipyards, a Wilson Sons' partner in Brazil for more than 20 years and will be constructed at Wilson Sons' shipyard in the city of Guarujá (SP).

The construction of new tugboats is part of the Company's strategy to increase and renew its fleet to assist the largest vessels operating in Brazil and facilitating the country's trade flow.

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