Delivery of vessel

11 April 2011

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

The delivery documents were signed by and between COSCO Guangdong and the buyer on 8 April 2011.

The bulk carrier measures 189.99 meters in LOA (length of all), 32.26 meters in breadth and 18 meters in depth.

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

Cosco Corporation (Singapore) Limited, press release