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January 18, 2011

The New World Alliance set to reduce ocean capacity
- Change reflects Lunar New Year factory closures

TOKYO, 18 JANUARY, 2011: The New World Alliance said today it will temporarily reduce capacity on selected Trans-Pacific Trade services to coincide with Lunar New Year factory shutdowns in Asia. The three container shipping lines in the alliance - APL, Hyundai Merchant Marine (HMM) and Mitsui O.S.K. Lines (MOL) - said the winter deployment program is expected to last six weeks; more if necessary.

"We'll review demand and capacity again well in advance of the peak shipping season," said APL President Eng Aik Meng. "As conditions warrant, we'll re-introduce capacity."

Winter deployment programs are routine for The New World Alliance carriers and the Trans-Pacific Trade in general, where Asian exports slow significantly during the Lunar New Year holiday break. Factory closures sharply curb the production of finished goods which are a staple of the trade. Alliance members said Lunar New Year factory closures this year are expected to be longer than usual, perhaps up to three or four weeks.

Alliance carriers said they will reduce capacity during the period by selectively omitting sailings on the SAX, PSW, PCX and PCE services. They said other services may be adjusted to ensure complete port coverage and that customers will be notified ahead of deployment changes.

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