Significant COSCO Maintenance and Retrofit Contract

2 December 2011

MAN PrimeServ Shanghai has signed two significant maintenance contracts with COSCO, the state-owned Chinese shipping group, during the Marintec 2011 maritime exhibition in Shanghai. Collectively, the contracts add up to a value of more than Euro 4 million.

The first contract covers the retrofit of 32 vessels from the COSCO Bulk Carrier fleet with slide-fuel valves. It also includes the retrofit of 7 + 6 vessels with Alpha Lubricators, giving a cumulative value of more than Euro 2 million.

The second contract is with COSCO Shanghai and covers the maintenance of 24 sets of TCA88 turbochargers aboard 12 vessels. This contract too is valued at over Euro 2 million.

Dr. Stephan Timmermann, Executive Board Member of MAN Diesel & Turbo said: “We are proud to have agreed these contracts with COSCO. The nature of the retrofits, in particular, will greatly benefit the performance of COSCO’s engines and is testimony to the company’s green credentials, while the turbocharger deal is the first such agreement we have drawn up in China. We are looking forward to a long working relationship with one of China’s leading maritime companies.”

About COSCO China Ocean Shipping (Group) Company is one of the largest shipping companies worldwide and operates over 130 vessels with a capacity of 600,000 TEUs. Owned by the government of the People’s Republic of China, COSCO is headquartered in Beijing and ranks sixth-largest in number of container ships and ninth-largest in aggregate container volume globally.

MAN Diesel & Turbo, Press Release