COSCO Corporation Secures Contract For One (1) 3,000-Ton Offshore Heavy Lift Vessel

1st Mar 2017

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) wishes to announce that COSCO (Qidong) Offshore Co., Ltd (“COSCO Qidong”), a subsidiary of the Company’s 51% owned COSCO Shipyard Group Co., Ltd, has secured a contract from a European buyer to build one (1) Offshore heavy lift vessel with crane capacity of 3000 Tons at more than 50 Meters. COSCO Qidong and the buyer have agreed to keep the contract price confidential.

The vessel is scheduled for delivery in the fourth quarter of 2019.

Save for their respective shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract.

Barring any unforeseen circumstances, 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 2017

By Order of the Board
Gu Jing Song
Vice Chairman and President
1st Mar 2017

Cosco Corporation (Singapore) Limited