COSCO Secures Contract For Three (3) Container Vessels

2 Mar 2017

The Board of Directors of COSCO Corporation (Singapore) Limited (the “Company”) is pleased to announce that COSCO (Guangdong) Shipyard Co., Ltd (“COSCO Guangdong”), a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has entered into a contract with a European buyer for three (3) 1,750 TEU container vessels.

COSCO Guangdong and the European buyer have agreed to keep the contract prices confidential. The container vessels are scheduled for delivery in 4Q2019 and 1Q&2Q2020 respectively.

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 above transactionis 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
2 Mar 2017

Cosco Corporation (Singapore) Limited