(I) DELIVERIES OF TWO VESSELS
(II) RESCHEDULING OF VESSEL DELIVERY
30 April 2010
(I) DELIVERIES OF TWO VESSELS
The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”)
wishes to announce that COSCO (Zhoushan) Shipyard Co., Ltd. (“COSCO
(Zhoushan)”) and COSCO (Guangdong) Shipyard Co., Ltd. (“COSCO (Guangdong)”)
(being two subsidiaries of the Company’s 51% owned COSCO Shipyard Group Co)
have each delivered one unit of bulk carrier of 57,000 dwt each to its European buyers
respectively.
The delivery documents were signed by and between COSCO (Zhoushan) and COSCO
(Guangdong) with the buyers respectively in April 2010.
The shipbuilding contracts were announced by the Company on 8 June, 2007 and 24
Oct 2007 respectively.
Each of the vessels is 18 meters high, 32.26 meters wide, and 189.99 meters long.
(II) RESCHEDULING OF VESSEL DELIVERY
The Board of Directors of the Company also wishes to announce that its subsidiary,
COSCO (Dalian) Shipyard Co., Ltd. (being a subsidiary of the Company’s 51% owned
subsidiary, COSCO Shipyard Group Co., Ltd) has, following request from an Asian
shipowner, entered into an agreement with the shipowner to reschedule the delivery of
one unit of bulk carrier of 80,000 dwt. Pursuant to the rescheduling, the delivery of the
vessel will be April 2011 instead of October 2010.
The rescheduling of the vessel’s delivery has been acceded to upon the requests of and
after negotiations with the shipowner.
The above rescheduling is not expected to have any material impact on the net tangible
assets (NTA) and earnings per share (EPS) of the Company and the Group for the year
ending 31 December 2010.
Cosco Corporation (Singapore) Limited
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