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January 30, 2012

MOL to Scrap 5 Double Hull Tankers
- Aims at Rejuvenation of the Fleet, Higher-quality Services -

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced a decision to scrap five double-hull tankers (four VLCCs, one Suezmax) by the end of March. Scrapping of two vessels is already completed, and preparations are under way to start dismantling the other three.

All five tankers were crude carriers launched before 1998. MOL, as one of the world's leading crude oil transport operators, is moving ahead to rejuvenate its fleet, upgrade the quality of its services, and solidify its position in the market, where it expects mid- and long-term growth.

Meanwhile, the vessels will be scrapped at yards that conform to the "Guidelines to sell vessels for scrapping from an environmental viewpoint" stipulated by MOL*.

*"Guidelines to sell vessels for scrapping from an environmental viewpoint"
MOL has monitored scrapping yards to ensure that their environmental practices in conformity to ISO14001 (or equivalent environmental management standards) and carefully evaluates their scrapping methods based on its own guidelines for environmental protection and occupational safety.

Profile of VLCC

Name Built in Flag Deadweight tons
Atlantic Liberty 1995 Panama 311,625
Atlantic Prosperity 1995 Panama 311,689
Minesa 1996 Marshall Is. 267,812
Rion 1998 Marshall Is. 267,534

Profile of Suezmax

Name Built in Flag Deadweight tons
Glen Maye 1992 Panama 151,850

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