Delivery of Vessel

15 July 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., Ltd has delivered a bulk carrier of 57000DWT, " SOFIA ", to its European buyer.

The delivery documents were signed by and between COSCO Zhoushan and the buyer on 13 July 2011.

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

By Order of the Board
Jiang Li Jun
Vice Chairman and President
15 July 2011

Cosco Corporation (Singapore) Limited, press release