Delivery of Vessel

18 January 2012

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that 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 to its European buyer.

The delivery documents were signed by and between COSCO Nantong and the buyer on 9 January 2012.

The shuttle tanker measures 207 meters in LOA (length of all), 32.2 meters in breadth and 19.5 meters in depth.

Cosco Corporation (Singapore) Limited, press release