Winland Ocean Shipping Announces 2011 Q2 Revenues Increased
Over the Same Period Last Year

HONG KONG (August 12, 2011) - Winland Ocean Shipping Corp. (OTCBB: WLOL), a global shipping Company, today announced 2011 second quarter financial results and that revenues increased.

The Company reported revenues increased 13.7% to $21.3 million in the second quarter of 2011 compared with $18.7 million in the same period in 2010. The year-over-year increase in revenues reflected the Company¡¯s strong marketing performance. Net income dropped but maintained profitable at $0.8 million in this challenging global market.

For the six months ended June 30, 2011, revenues increased by 6.8% to $34.1 million, compared to $32.0 million for the comparable period in 2010. The Company had income from continuing operations of $1.7 million without consideration of the loss from the disposition of its former variable interest entities in the first quarter of 2011. The Company stated that the shipping market plunged as the Baltic Dry Index decreased 58% in the second quarter of 2011. "Despite the negative impact from the global shipping market¡", said Ms. Xue Ying, CEO, "our revenues grew back to pre-crisis levels. We contributed the improvement in revenues to our expansion of our fleet capacity".

"Placing two newly built vessels into operation in the first half of 2011 increased our size capacity while selling two old vessels helped to improve our fleet structure", added Mr. Li Honglin, President, "we plan to continue to steadily expand our capacity by constructing new vessels and by purchasing newer second-hand vessels in light of the current slump in the shipping market, and we plan to improve our fleet structure by disposing some old or fully depreciated vessels. With the continuing recovery of the global economy and shipping market, we believe our expanded and restructured fleet scale will position us for steady long-term growth. We are pleased to see that evidenced by our current performance".

Two old bulk vessels were sold at a gain in August this year.

Description of Winland Ocean Shipping Corp.
Winland Ocean Shipping Corp. is a global shipping company with a fleet of 13 Company-owned vessels, mainly in the handysize and MPP (Multi-Purpose Vessel) category, engaged in ocean transportation of dry bulk cargoes and chartering brokerage services worldwide.

Winland Ocean Shipping Corp. press release