Delivery of Vessels

16 September 2011

The Board of Directors wishes to announce that COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd has delivered a bulk carrier of 57,000 dwt, "COMMON CALYPSO", to its European buyer.

The delivery documents were signed by and between COSCO Dalian and the buyer on 12 September 2011.

The bulk carrier measures 189.99 meters in LOA (length of all), 32.26 meters in breadth and 18 meters in depth.

Separately, COSCO (Nantong) Shipyard Co., Ltd ("COSCO Nantong"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd has delivered a 59,000 dwt shuttle tanker, "DAN SABIA", to its European buyer. The delivery documents were signed by and between COSCO Nantong and the buyer on 15 September 2011.

The bulk carrier measures 207 meters in LOA (length of all), 32.2 meters in breadth and 15 meters in depth.

Cosco Corporation (Singapore) Limited, press release