Expiration Of Ship Leases

31 January 2011

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that leases in respect of two (2) 74,000 dwt charter-in Panamax vessels with China Ocean Shipping (Group) Company, announced on 1 December 2003 has expired and will expire end January 2011 and end March 2011 respectively. Both parties to the leases have mutually agreed that they will not renew the said leases.

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

Cosco Corporation (Singapore) Limited, press release