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20 October 2015 The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) is pleased to announce that shipyards, which are subsidiaries of the Company’s 51% owned subsidiary COSCO Shipyard Group Co., Ltd, have secured contracts valued at approximately USD150 million to build one (1) 22,000 DWT Product Oil Tanker and two (2) Cargo Transfer Vessels as follows: 1. COSCO (Dalian) Shipyard Co., Ltd Contract from an Asian company to build one (1) 22,000 DWT Product Oil Tanker. The vessel is scheduled for delivery in the fourth quarter of 2016. 2. COSCO (Nantong) Shipyard Co., Ltd (“COSCO (Nantong)”) and COSCO (Guangdong) Shipyard Co., Ltd (“COSCO (Guangdong)”) Contract from a European company to build two (2) Cargo Transfer Vessels. a. The first vessel will be constructed by COSCO (Nantong) and is scheduled for delivery in the third quarter of 2017. b. The second vessel will be constructed by COSCO (Guangdong) and is scheduled for delivery in the first quarter of 2018. The buyer has also secured options for four (4) additional cargo transfer vessels. Save for their respective shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contracts. Barring any unforeseen circumstances, the above contracts are 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 2015. By Order of the Board Wu Zi Heng Vice Chairman and President 20 October 2015 Cosco Corporation (Singapore) Limited |
