COSCO Corporation Secures Contract Valued
Over USD220 Million For Two (2) Self Propelled
Pipelay Heavylift Offshore Construction Vessels

5 January 2012

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) is pleased to announce that COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD220 million from an Asian company to build two (2) Self Propelled Pipelay Heavylift Offshore Construction Vessels. The vessels are scheduled for delivery in the fourth quarter of 2013 and the first quarter of 2014 respectively.

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 2012.

Cosco Corporation (Singapore) Limited, press release