COSCO secures contracts for one stinger barge and o ne oil tanker
The Board of Directors of COSCO Corporation (Singap ore) Limited announces that COSCO (Dalian) Shipyard Co ., Ltd (a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Grou p Co., Ltd), has secured a contract from an Asian company to build an oil tank er of 22,000 dwt, said in the company's press release.
The tanker is scheduled for delivery in the fourth quarter of 201 4. Separately, COSCO (Zhoushan) Shipyard Co., Ltd (whi ch is also a subsidiary of COSCO Shipyard Group Co., Ltd.) has secured a contract fr om 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 o f the Company has any interest, direct or indirect in the contracts. The above contracts are not expected to have a mate rial impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2013.
