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June 27, 2011

MOL to Expand Large-scale Containership Fleet
- Building 2 New 8,600TEU Containerships, Chartering 5 Large 14,000TEU Ships -

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced a decision to order two containerships (8,600 TEU) from Mitsubishi Heavy Industries, Ltd., with delivery slated for 2013. Along with eight 8,100 TEU ships already in operation, the new vessels will be deployed to Asia-Europe routes.

The company also reached an agreement with NOL Group* for a three-year charter of five large containerships (14,000 TEU) of 10 that NOL Group has on order. The five chartered ships will be delivered in 2013 - 2014 and will serve with the other five operated by APL on Asia-Europe routes.

"Expansion of the fleet will secure needed capacity on the East-West route, and allow us to provide high-quality, competitive services. MOL works continuously to further improve and optimise its service, and is reviewing the need for an expansion of the fleet on not only East-West trades but also all other routes for the benefit of our customers," said Junichiro Ikeda, CEO, MOL Liner.

(*)NOL (Neptune Orient Lines), based in Singapore, is the parent company of APL, one of MOL's partners in The New World Alliance (TNWA)

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