Delivery of Vessel

17 October 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, "STX RAPIDO ", to its Asian buyer.

The delivery documents were signed by and between COSCO Zhoushan and the buyer in Zhoushan Shipyard.

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

Cosco Corporation (Singapore) Limited, press release