(1) Delivery Of Vessel
(2) Shipbuilding Contracts Become Effective For 2 Bulk Carriers

18 June 2010

(1) Delivery of vessel

The Board of Directors (the “Board”) of COSCO Corporation (Singapore) Limited (the “Company”) wishes to announce that COSCO (Zhoushan) Shipyard Co., Ltd. (“COSCO (Zhoushan)”) (being a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd.) has delivered a bulk carrier of 57,000 dwt, “Ince Akdeniz”, to its buyer. The delivery documents were signed by and between COSCO (Zhoushan) with the buyer in June 2010.

The bulk carrier measures 18 meters high, 32.26 meters wide, and 189.99 meters long.

(2) Shipbuilding contracts become effective for 2 bulk carriers

The Board further refers to the announcement made by the Company on 15 June 2010 in relation to the 11 contracts and 4 letters of intent signed by COSCO (Dalian) Shipyard Co., Ltd. and COSCO (Guangdong) Shipyard Co., Ltd. to build a total of 15 units of bulk carriers. The Board wishes to announce that 2 of the shipbuilding contracts have become effective following, inter alia, the payment of the initial deposits by the shipowners.

By Order of the Board
Jiang Li Jun
Vice Chairman and President 18 June 2010

Cosco Corporation (Singapore) Limited, press release