Cosco corporation secures contract valued over USD 68 Million for two dry bulk carriers

The Board of Directors of COSCO Corporation (Singapore) Limited is pleased to announce that COSCO (Zhoushan) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary,

COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD68 million from an Asian company to build two (2) 82000 dwt dry bulk carriers. Both the vessels are scheduled for delivery in the second quarter of 2013.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract. The contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31st December 2011.