Cosco Signed Contract For New Purpose-Built Installation Vessel

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) wishes to announce that the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd., has today signed a contract valued over US$130 million with an European shipowner to build a vessel specially designed for the purpose of installation of offshore wind turbines. The jack-up vessel will be designed to be able to carry 8 to 10 wind turbines at a time to operate at water depths of up to 45 meters.
Delivery of the vessel to the shipowner is expected to take place in the second half of
2012.