Delivery of Vessel

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

The delivery documents were signed by and between COSCO Zhoushan and the buyer on 3 November 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
4 November 2010

Cosco Corporation (Singapore) Limited, press release