Chinese Shipyards Deliver Bulk Carriers

Press Release
Wednesday, March 21, 2012

COSCO Corporation announce delivery of Capesize, Panamax bulk ships from Dalian & Zhoushan shipyards

COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd has delivered a  Capesize bulk carrier of 92,500 dwt, Ocean Emerald, to its Asian buyer. The delivery documents have been signed by COSCO Dalian and the buyer . The bulk carrier measures 229.165 meters in LOA, 37.996 meters in breadth and 20.702 meters in depth.

Separately, COSCO (Zhoushan) Shipyard Co., Ltd ("COSCO Zhoushan"), another subsidiary, also 51% owned by COSCO, has delivered a Panamax bulk carrier of 57,000 dwt, Port Canton to its European buyer. This bulk carrier measures 189.99 meters in LOA , 32.26 meters in breadth.

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