Delivery Of Sevan Brasil

6 March 2012

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that COSCO (Nantong) Shipyard Co., Ltd ("COSCO Nantong"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered its new build Sevan Brasil to Sevan Drilling ASA this week.

The delivery documents were signed by and between COSCO Nantong and the buyer recently.

The Sevan Brasil measures 99 meters in LOA (length of all), 75 meters in breadth and 24.5 meters in depth.

By Order of the Board
Wu Zi Heng
Vice Chairman and President
6 March 2012

Cosco Corporation (Singapore) Limited, press release