DELIVERY OF NEW BUILD SHIPS BY COSCO DALIAN

29 September, 2009

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) wishes to announce that its subsidiary, COSCO (Dalian) Shipyard Co., Ltd. (“COSCO Dalian”) (being a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd) has delivered two new build ships, which are both 57,000 dwt bulk carriers, namely the M.V. Chang Shun II and the M.V. Ingrid C, to its buyers, who are Sino-African and European shipowners respectively. The delivery documents were signed by and between COSCO Dalian and the respective buyers at COSCO Dalian on 25 September, 2009.

Being the first new build vessels of COSCO Dalian, each bulk carrier measures 189.99 meters long, 32.26 meters wide and 18 meters high. Each of the two vessels, classed by B.V. Classification Society, has a draft of 12.8 meters and a navigation speed of 14.2 knots.

For and on behalf of the Board
Jiang Li Jun
Vice Chairman / President

Cosco Corporation (Singapore) Limited