May 8, 2002

TNWA Expands Its Transpacific China Coverage

The New World Alliance (TNWA), which consists of APL, Hyundai Merchant Marine (HMM) and MOL, is expanding its Transpacific coverage through a new string, PSV, to its existing service profile. In addition, the Alliance is expanding its coverage of China by reshuffling its Transpacific port rotation to include an additional call at the port of Shanghai and new calls at the ports of Xiamen and Ningbo.

The new PSV service will feature express service between Asia and the west coasts of the U.S. and Canada. The PSV port rotation will be: Los Angeles (Sat/Mon), Vancouver (Wed/Wed), Seattle (Thu/Fri), Tokyo (Sun/Mon), Nagoya (Mon/Tue), Kobe (Tue/Wed), Kaohsiung (Fri/Fri), Hong Kong (Sun/Sun), Yantian (Sun/Mon), Hong Kong (Mon/Tue), Los Angeles (Sat/Mon). The service will commence with the sailing of the MOL Vantage voy. 001E from Yantian on June 9, 2002.

Additionally, Ningbo will be added to TNWA's PS3 port rotation and Xiamen will be added to the PS2 port rotation . The PS3 and PS2 services will feature competitive transit times between the Pacific Southwest, Xiamen and its outlying region and Ningbo.

To accommodate the new Ningbo call , calls at Seattle, Vancouver, and Kobe (westbound) will be transferred from the PS3 to the new PSV service. The enhanced PS3 port rotation will be: Los Angeles (Sun/Tue), Oakland (Wed/Thu), Tokyo (Mon/Mon), Nagoya (Tue/Tue), Ningbo (Thu/Fri), Shanghai (Fri/Mon), Kobe (Wed/Wed), Tokyo (Thu/Fri), Los Angeles (Sun/Tue). The new rotation will commence with the sailing of the MOL Strength voy. 013E from Shanghai on June 7, 2002.

In addition, to accommodate the new Xiamen call, the westbound Kaohsiung call will be removed from the PS2 port rotation. Customers who ship cargo between the Pacific Southwest and Kaohsiung will be able to utilize TNWA's SAX, PS1, PSV and PSW services. The new PS2 port rotation will be: Los Angeles (Sat/Tue), Oakland (Wed/Thu), Dutch Harbor (Mon/Tue), Yokohama (Mon/Mon), Kobe (Tue/Wed), Xiamen (Fri/Sat), Hong Kong (Sat/Sun), Yantian (Sun/Mon), Kaohsiung (Tue/Tue), Los Angeles (Sat/Tue). The new rotation will commence with the sailing of the President Truman voy. 148E from Xiamen on June 7, 2002.

The additional call at the port of Shanghai has been incorporated into TNWA's PNW port rotation since March 2002. TNWA's new PNW service features fast transit times between the Pacific Northwest and Shanghai. Besides the Shanghai call, eastbound calls at Nagoya, Tokyo and a call at Seattle were also added to the PNW service. The new PNW port rotation is: Tacoma (Sat/Sun), Seattle (Sun/Mon), Vancouver (Mon/Tue), Portland (Wed/Thu), Yokohama (Sat/Sun), Busan (Mon/Tue), Kaohsiung (Thu/Fri), Hong Kong (Fri/Sat), Shanghai (Mon/Mon), Busan (Wed/Wed), Nagoya (Thu/Fri), Tokyo (Fri/Fri), Tacoma (Sat/Sun).

"We have successfully leveraged our assets to maximize market coverage, as well as increasing service frequency and speed. By revamping our existing Transpacific services to incorporate an additional call at Shanghai and new calls at Xiamen and Ningbo, we have significantly increased the scope of our China service and concurrently extended our customers service choices throughout the Pacific Rim," said Ray Keene, EVP / COO, MOL (America) Inc.

TNWA will operate eight fixed-day weekly services in the Trans-Pacific. The alliance also operates two all-water Asia-U.S. East Coast services, one of these together with Evergreen Marine Corporation. In the Trans-Atlantic and Asia-Europe trades, TNWA has three weekly, fixed-day services in each of these trades. The three-member carriers co-ordinate some 100 containerships in major container trades.