Delivery of vessel

1 April 2011

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) wishes to announce that COSCO (Nantong) Shipyard Co., Ltd (“COSCO Nantong”), a subsidiary of the Company’s 51% owned COSCO Shipyard Group Co, has delivered the first shuttle tanker “FORTALEZA KNUTSEN” to its European buyer.

The delivery documents were signed by and between COSCO Nantong and the buyer on 30 March 2011.

The shuttle tanker measures 246.8 meters in LOA (length of all), 42 meters in breath and 22.5 meters in depth.

Cosco Corporation (Singapore) Limited, press release