Cosco Corp seals $200m contract for semi submersible accommodation vessel

Vessel ordered by COTEMAR.

The Board of Directors of COSCO Corporation (Singapore) Limited has announced that COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD200 million from COTEMAR S.A. De C.V., a company incorporated in Mexico, to build one (1) Harsh Environment Semi Submersible Accommodation Vessel.

This vessel will be built to GustoMSC Ocean500 design and have capacity of 750 POB, DP3 Dynamic Positioning system and is designed to operate
in the Santos Basin, Gulf of Mexico and in the North Sea.

COTEMAR S.A. De C.V., has now exercised the first option unit awarded by COSCO. COTEMAR S.A. De C.V., was awarded altogether two options units in March 2012 when the 1st unit hull were contracted. The vessel is scheduled for delivery in 24 months time.

None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract. The contract is 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 2013.

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