Delivery of Vessel

6 May 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, "STX PRIDE", to its Asian buyer.

The delivery documents were signed by and between COSCO Zhoushan and the buyer on 4 May 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