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The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) wishes to announce that COSCO (Guangdong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured the optional contract to build one (1) unit of Special Purpose Carrier; exercised by the European ship owner pursuant to the contract cited in the preceding paragraph. The vessel is scheduled to be delivered in the fourth quarter 2013. 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 31 December 2011. Cosco Corporation (Singapore) Limited, press release |
