New Contracts for COSCO Shipyard Group

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO Shipyard Group Ltd have secured contracts totaling over USD380 million to build two jackup drilling rigs and one bulk carrier.

COSCO (Dalian) Shipyard Co. Ltd secured contracts from a Bermuda company for two (2) LeTourneau Super 116E jackup drilling rigs, scheduled for delivery in 1H2016 and 2H2016 respectively. The buyer has also secured options for two (2) additional jackup drilling rigs.

COSCO (Zhoushan) Shipyard Co. Ltd secured the contract under the first option, cited in the company’s announcement dated 12 Sept 2013, to build one (1) dry bulk carrier of 64,000 dwt for a European buyer has been rendered effective. The bulk carrier is scheduled for delivery in 2H2014.

COSCO, November 14, 2013