Introduction

Penguin International Ltd is a marine and offshore services company. Its services include shipyard services and offshore charters. The company's segments include the chartering segment, which provides chartering of vessels; and the shipbuilding and ship repairs and maintenance segment, which acts as a builder of high speed aluminum commercial vessels and contractor for ship repairs and maintenance services. Its principal activity is to act as (i) owners and operators of passenger ferries, (ii) designers and builders of search-and-rescue vessels, and (iii) investment holding. Its subsidiaries own and operate crew boats, fast supply intervention vessels, passenger ferries, as well as shipyards.