COSCO Shipyard Group Delivers Bulk Carriers to Its European Buyer

The Board of Directors of COSCO Corporation (Singapore) Limited announced that its subsidiaries of the Company’s 51% owned COSCO Shipyard Group Co., Ltd have made the following deliveries:

1. COSCO (Zhoushan) Shipyard Co., Ltd has delivered a bulk carrier of 57.000 DWT, “FEDERICA”, to its European buyer.

2. COSCO (Guangdong) Shipyard Co., Ltd has delivered a bulk carrier of 57.000 DWT, “CONTI FUCHSIT”, to its European buyer.

All the delivery documents were signed by and between the COSCO shipyards and the respective buyer on 15 June 2012.

The bulk carriers of 57.000 DWT measure 189.99 meters in LOA (length of all), 32.26 meters in breadth and 18 meters in depth.

COSCO Corporation (Singapore) has one of the largest Ship Repair, Ship Building and Offshore Marine Engineering operations in China. A diversified group with activities also in Dry Bulk Shipping, Shipping Agency and other sectors, it is the SGX Mainboard-listed subsidiary of China Ocean Shipping (Group) Company, China’s largest shipping group and one of the top shipping conglomerates in the world. COSCO Corporation has achieved significant progress in growing its Ship Repair, Ship Building and Offshore Marine Engineering capacity and capabilities. The completion of its acquisition of a 51% stake in one of the largest shipyards in China, COSCO Shipyard Group (“COSCO Shipyard”),on 1 January 2005 propelled COSCO Corporation into the premier league in the ship repair industry.

[mappress]

Shipbuilding Tribune Staff, June 20, 2012