Delivery of Vessel

20 April 2011

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, "PISTI", to its European buyer.

The delivery documents were signed by and between COSCO Zhoushan and the buyer on 18 April 2011.

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

Cosco Corporation (Singapore) Limited, press release