COSCO's subsidiaries sealed two deals worth US$36m

Deliveries are set in 2014.

In a release, COSCO Corporation Limited announced that COSCO Shipyard Co., Ltd (a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd), has secured a contract from an Asian company to build an oil tanker of 22,000 dwt. The tanker is scheduled for delivery in the fourth quarter of 2014.

Separately, COSCO (Zhoushan) Shipyard Co., Ltd (which is also a subsidiary of COSCO Shipyard Group Co., Ltd.) has secured a contract from a European company to build a stinger barge. The barge is scheduled for delivery in the first quarter of 2014.

The total value for the above two contracts is over US$36 million. None of the directors or controlling shareholders of the Company has any interest, direct
or indirect in the contracts.

The above contracts are 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.