Cosco wins jackup drilling rig contract worth over $170m

For delivery to a European company.

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD170 million from a European company to build one (1) Jackup drilling rig.

The rig is scheduled for delivery in the 3rd quarter of 2015.

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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