COSCO Corporation Secures Contract Valued Over USD200 Million
For One (1) Unit Semi Submersible Accommodation Vessel

2 May 2012

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) is pleased to announce that COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD200 million from COTEMAR S.A. De C.V., a company incorporated in Mexico, to build one (1) Harsh Environment Semi Submersible Accommodation Vessel. This vessel will be built to GustoMSC Ocean500 design and have capacity of 750 POB, DP3 Dynamic Positioning system and is designed to operate in the Santos Basin, Gulf of Mexico and in the North Sea.

The vessel is scheduled for delivery in 30 months time.

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 31 December 2012.

By Order of the Board
Wu Zi Heng
Vice Chairman and President
2 May 2012

Cosco Corporation (Singapore) Limited, press release