Logistics Venture established

Clarkson PLC
01 August 2002

                   CLARKSON PLC ESTABLISHES LOGISTICS VENTURE



Clarkson PLC ('Clarksons'), a provider of international shipping services, has
established a new company, Clarkson Logistics Ltd., to participate in
specialised logistics and infrastructure projects with a specific focus on
projects in Asia.



The first project the newly formed company is involved in has been the
acquisition of a 51% shareholding in Pasir Bulk Carriers Pte. Ltd. ('Pasir'), a
company registered in Singapore with the other shares being held by a group of
well-established Norwegian shipping interests.  Pasir has secured a bareboat
charter to SembCorp Engineers and Constructors Pte. Ltd. (SembE&C) for two OBO
carriers the company has acquired.  These vessels will be used by SembE&C in the
transportation of sand for its land reclamation project at Tuas in Singapore.



Clarksons is investing US$ 1.25 million in cash for their investment in Pasir
and the first of the two vessels to be acquired, the 'ACINA' has now been
delivered, with the second vessel, the 'ARIEL' scheduled for delivery in
November.



Clarksons sees this new initiative as a logical and profitable way to employ
surplus resources away from its traditional shipbroking activity whilst at the
same time utilising its global presence and core financial skills in developing
further related projects.  The impact of the investment in Pasir on Clarksons
current year results is not expected to be material, but future earnings will
grow as the business develops and additional projects are undertaken.



                                     -ENDS-







For further information please contact:



Rob Ward                        Clarkson PLC          020 7334 0000

Sarah Bagnell, Rebecca Sly      RSB Consultancy       020 7264 2080




                                                          Thursday 1 August 2002

Note to Editors



SembCorp Engineers & Constructors Pte. Ltd.



SembCorp Engineers & Constructors Pte. Ltd. (SembE&C) is a wholly owned
subsidiary of SembCorp Industries (SCI), Asia's foremost engineering services
group.  With core capabilities in the areas of heavy engineering, Infrastructure
works and process and industrial engineering, SembE&C is the largest engineering
and construction group in South East Asia, excluding Japan and Korea.  It is
responsible for a number of notable infrastructure projects in Singapore,
including the Terminal 2 of Changi International Airport and the Light Rapid
Transit systems for the new towns of Sengkang and Punggol.

SCI has total assets worth more than S$ 6.2 billion and is placed amongst the
top twenty-five companies in Singapore by market capitalization.  Listed on the
main board of the Singapore Stock Exchange, it is a component stock of the
Straits Times Index.






                      This information is provided by RNS
            The company news service from the London Stock Exchange