COSCO secures $57m contract for 2 livestock carriers

Both to be delivered in 2015.

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Guangdong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract valued over USD57 million from a European buyer to build two (2) 4500 square meters Livestock Carriers.

The two Livestock Carriers are scheduled for delivery in the third and fourth quarter of 2015 respectively.

Save for their respective shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract. Barring any unforeseen circumstances, 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 2014.