Four Shipbuilding Contracts Become Effective

9 July 2013

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") is pleased to announce that four shipbuilding contracts signed by COSCO (Zhoushan) Shipyard Co., Ltd ("Cosco Zhoushan") (a wholly-owned subsidiary of the Company's 51% owned subsidiary, COSCO Shipyard Group Co., Ltd) with a European ship owner for the construction of four 111,000dwt tankers have been made effective recently at a value of over US$180 million in total.

Delivery of the above four tankers are expected to commence from first half of 2015. In addition, the ship owner has an option to declare up to another two contracts for the construction of the same tankers. The Company will make announcements as and when the shipbuilding contracts subject to such option are declared effective.

None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contracts.

As at the date hereof, the above four contracts that have been declared effective are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2013.

Cosco Corporation (Singapore) Limited, press release