AL ISLAMI OCEANIC SHIPPING FUND

The Al Islami Oceanic Shipping fund is an open ended Sharia compliant fund investing in Saudi Arabian Shipping assets.

SinoGulf acted as Lead Arranger with London's Tufton Oceanic Ltd as Asset Manager and Dubai Islamic Bank as a cornerstone investor. The fund was closed at USD 125 million in January 2004 and generates an open ended yield of 9% per annum.