DELIVERY OF VESSEL

Oct 22, 2010

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that COSCO (Dalian) Shipyard Co., Ltd "COSCO Dalian", a subsidiary of the Company's 51% owned COSCO Shipyard Group Co, has delivered a bulk carrier of 57,000 dwt, "MAGDA P", to its European buyer.

The delivery documents were signed by and between COSCO Dalian and the buyer on 21 October 2010.

The bulk carrier measures 18.00 meters high, 32.26 meters wide, and 189.99 meters long.

By Order of the Board
Jiang Li Jun
Vice Chairman and President
22 October 2010

Cosco Corporation (Singapore) Limited, press release