COSCO Zhoushan Wins $23 Mln Barge Contract

The Board of Directors of COSCO Corporation (Singapore) Limited today announced that COSCO (Zhoushan) Shipyard C o., Ltd. (a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd.), has signed and made effective a contract with a Malaysian shipowner to build a floatover launch barge at a contract value over $23 million.

The floatover launch barge will measure 10.00 meter s high, 38/46 meters wide, 160 meters long and will be capable of transporting & performing float over operations of offshore topside modules structures weighing up to 14500 tons and will also be capable of launching jackets up to 20000 tons.

Delivery of the floatover launch barge to the shipowner is expected to take place in the last quarter of 2013.

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Press Release, May 10, 2013