Penguin International Limited announce that the Company has been awarded a contract by Shell Eastern Petroleum (Pte) Ltd. to design, build, own and operate at least three fully-electric ferries. When operational, they will form the first fully-electric ferry service for Shell in Singapore. Expected to set sail in the first half of 2023, the new 200-seater single-deck ferries will be used to transport passengers between mainland Singapore to Shell's Energy and Chemicals Park on the island of Bukom, replacing the conventional diesel-powered ferries currently used. The Contract is not expected to have a material impact on the consolidated net tangible assets per share and consolidated earnings per share of the Group for the financial year ending 31 December 2021.