Delivery of Vessel

3 June 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., Ltd, has delivered a bulk carrier of 57,000 dwt, "??6", to its Chinese buyer.

The delivery documents were signed by and between COSCO Guangdong and the buyer on 16 May 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
3 June 2011

Cosco Corporation (Singapore) Limited, press release