Shipbuilding Contracts Become Effective For 2 Bulk Carriers

5 July 2010

The Board of Directors (the “Board”) of COSCO Corporation (Singapore) Limited (the “Company”) refer 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 another two (2) of the shipbuilding contracts for two (2) 82,000 dwt bulk carriers have become effective following inter alia, the payment of the initial deposits by the ship owners.

COSCO (Dalian) shipyard will build these two bulk carriers and deliveries are expected in April 2012 and July 2012 respectively.


By Oder of the Board
Jiang Li Jun
Vice Chairman and President

Cosco Corporation (Singapore) Limited, press release