COSCON Ordered Twenty Container Ships

On Dec. 28, 2007, a grand signing ceremony was held in Beijing for a deal with Yangzijiang Shipbuilding to build twenty 4250TEU Container Ships (sixteen plus four options). Mr. Zhang Fusheng, Executive Vice President of COSCO Group, Mr. Chen Derong, Vice-Secretary of the Party Committee of CPC of Jiangyin People's Government and Mr. Ren Yuanlin, Chairman of Yangzijiang Shipbuilding attended the event. Mr. Sun Jiakang, Managing Director of COSCO Container Line and Mr. Cao Zhiteng, Managing Director of Yangzijiang Shipbuilding signed the deal on behalf of both parties.

The newbuildings will help COSCON to further improve the service network of its liner business and further strengthen its market position.