China Shipyards Deliver Tender Rig, Bulk Carrier

COSCO Corporation (Singapore) Limited informs of the delivery of two new vessels from shipbuilding yards in China.

1. COSCO (Nantong) Shipyard Co., Ltd , a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a tender rig,"T-18", to Seadrill.

2. COSCO (Guangdong) Shipyard Co. Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co. Ltd, has delivered a bulk carrier of 35,300 DWT, "FUAT BEY", to its Asian buyer.

About COSCO Shipyard
Founded in June 2001, COSCO Shipyard Group Co., Ltd, is a subsidiary of China Ocean Shipping Company (COSCO). It specializes in large vessel construction, marine engineering, conversion, and providing ship repair services. The group has shipyards in Dalian, Nantong, Zhoushan, Guangdong Province, Shanghai, Lian Yungang and other places.