Car Carrier Cougar Ace Situation Update

September 13, 2006

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) reported that the car carrier Cougar Ace arrived under tow at the port of Portland, OR., U.S.A., at 22:40 on September 12 (JST) and was moored at a repair berth. The ship will shift to a discharging berth after onloading an electrical power generator. The automobiles on board are slated for unloading on and after September 14 (JST).

The Cougar Ace listed heavily and was disabled at sea south of the Aleutian Islands on July 24. The ship was then towed through the Bering Sea to Dutch Harbor on the Aleutian Islands for initial safety measures and inspection of its cargo, hull, and engine. However, MOL decided that it would be impractical to promptly complete the repair and restoration work at Dutch Harbor, so the ship was towed to Portland from Dutch Harbor.

The hull and engine of the Cougar Ace will be fully restored after all the cargo is unloaded.