Delivery of Vessel

31 May 2011

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that COSCO (Dalian) Shipyard Co., Ltd (“COSCO Dalian”), a subsidiary of the Company's 51% owned subsidiary COSCO Shipyard Group Co, Ltd, has delivered a bulk carrier of 80,000 dwt, "SHER-E PUNJAB ", to its Asian buyer.

The delivery documents were signed by and between COSCO Dalian and the buyer on 27 May 2011.

The bulk carrier measures 229 meters in LOA (length of all), 32.26 meters in breadth and 20.25 meters in depth.

By Order of the Board
Jiang Li Jun
Vice Chairman and President
31 May 2011

Cosco Corporation (Singapore) Limited, press release