COSCO Corporation Secures Contract Valued USD25.85 Million For One Semi-Submersible Barge

Jun 07, 2011

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) is pleased to announce that COSCO (Zhoushan) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued at USD25.85 million from a South East Asian company to build one (1) Semi-Submersible Barge.

The vessel has a deadweight capacity of 32,000 DWT and is scheduled for delivery in the second quarter of 2012.

None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract.

The contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31st December 2011.

By Order of the Board
Jiang Li Jun
Vice-Chairman and President
7 June 2011

Cosco Corporation (Singapore) Limited, press release