March 26, 2002



Launch of Japan/Korea/East Asia/South East Australia
and China/Hong Kong/South East Australia Service


COSCO Container Lines, Ltd., Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd, Nippon Yusen Kabushiki Kaisha, and P&O Swire Containers, Ltd. are pleased to announce that, in order to better meet customers' needs and improve operating efficiency, the five lines are to slot swap between COSCON's China/S.E. Australia Service Loop and Four Lines Consortium's Japan/Korea/East Asia/South East Australia Service Loop.

COSCON will operate an independent China/Hong Kong/South East Australia Service Loop, while the Four Lines Consortium will operate an independent Japan/Korea/East Asia/ South East Australia Loop.

The rotation of COSCON's China Loop is Shanghai/Huangpu/Hong Kong/Sydney/ Melbourne/Brisbane/Hong Kong/ Shanghai.
The rotation of Four Lines Consortium's Loop is Yokohama/Osaka/Nagoya/ Pusan/Keelung/Hong Kong/ Sydney/ Melbourne/ Brisbane/Yokohama.

The Slot Swap between the two parties will commence late June. However and the commencement voyage for each step is subject to further notice.