Nov 1, 2010

(1) COSCO Corporation Secures Contracts Valued over USD 87 Million for Three Bulk Carriers
The Board of Directors of COSCO Corporation (Singapore) Limited (the Company) wishes to announce that COSCO (Dalian) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured contracts valued over USD 87 million to build three bulk carriers of 57,000 dwt each. The contracts are effective following receipt of the initial deposits from the Asian ship owner. The bulk carriers which will be built at COSCO (Dalian) shipyards are scheduled for deliveries from May 2012 to March 2013.

None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contracts. The contracts are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31st December 2010.

(2) Shipbuilding Contracts Become Effective for Two 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 / President
1 November 2010

Cosco Corporation (Singapore) Limited, press release