COSCO Shipyard appoints Wang Yu Hang as General Manager

After Wang Xing Ru's resignation, the company picked Wang Yu Hang behind his good qualifications and extensive working experience in the shipbuilding industry.

The Board of Directors of COSCO Corporation (Singapore) Limited wishes to announce the resignation of Mr. Wang Xing Ru as General Manager of COSCO Shipyard Group Co., Ltd (“COSCO Shipyard”), a 51%-owned subsidiary of the Company, with effect from 24 June 2011.

Following Mr. Wang Xing Ru’s resignation as General Manager of COSCO Shipyard, the Board has gone through a nomination and thorough selection process for his successor. The Board, having reviewed the profiles of the candidates, has recommended to the Board of COSCO Shipyard for the appointment of Mr. Wang Yu Hang (“Mr. Wang”) as the new General Manager of COSCO Shipyard.

The Board of Directors of COSCO Shipyard, having reviewed and considered the qualification of Mr. Wang, approved the appointment of Mr. Wang as General Manager of COSCO Shipyard on 24 June 2011.

Mr. Wang graduated from marine engineering department of Dalian Maritime College in 1983. He was the Managing Director of COSCO shipbuilding Industry Co. Ltd (“COSCO Shipbuilding”) since May 2009, promoted from Deputy Managing Director, a post held by him from February 2007 to May 2009. COSCO Shipbuilding, which is a shareholder of Nantong COSCO KHI Ship Engineering Co., Ltd, is one of the most advanced shipbuilding yards in China. Mr. Wang has good qualifications and extensive working experience in the shipbuilding industry, according to a COSCO report.

The Board welcomes Mr. Wang as the new General Manager of COSCO Shipyard and would like to thank Mr. Wang Xing Ru for his invaluable contributions to the group during his tenure of service and look forward to his continued support.