Delivery of Vessel

5 January 2011

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, "Christine Star", to its Asian buyer.

The delivery documents were signed by and between COSCO Dalian and the buyer on 5 January 2011.

The bulk carrier measures 189.99 meters in LOA (length of all), 32.26 meters in breadth and 18.00 meters in depth.

By Order of the Board
Jiang Li Jun
Vice Chairman and President
5 January 2011

Cosco Corporation (Singapore) Limited, press release