August 12, 2002



MOL Will Use Corrosion-Resistant NAC5 Steel
on Upper Deck of Very Large Crude oil Carriers



TOKYO -- Mitsui O.S.K. Lines, Ltd. (President, Kunio Suzuki) today announced that its newest crude oil tankers, to be launched in 2003, will feature NKK Anti-Corrosion No.5 (NAC5) steel on their upper deck. The new material, developed by NKK Corp., will ensure longer life for the tankersf upper decks and protect the marine environment by reducing the risk of oil leakage even after many years of service.

The undersides of crude oil tankersf upper decks are highly susceptible to corrosion caused by high temperatures and humidity. As a result, tankers made of conventional steel have a service life of only about 20 years. MOL and NKK estimate that the use of NAC5 will extend the service life of the vessels by about five years, thanks to the materialfs improved corrosion resistance.

The International Maritime Organization (IMO) and other groups have shown growing concern about corrosion on the undersides of upper decks of crude oil tankers, and there have been calls for more stringent inspection of these areas of the vessels. Whatfs more, in recent years there have been several incidents in which aging tankers have leaked oil into Japanfs coastal waters. To address the corrosion problem, Nippon Kaiji Kyokai (NK) has established a stricter inspection program including measurement of steel plate thickness. If excessive corrosion is found to have reduced the strength of the hull, ship owners will have to reinforce the weakened plates.

In addition to the use of NAC5, two new crude oil tankers under construction at NKK will also use the AX-BOW bow design applied to the Cape-size bulk carrier Kohyohsan, which was awarded Ship of the Year for 2001 by The Society of Naval Architects of Japan. The AX-BOW design improves ship propulsion in heavy seas and reduces fuel consumption. Further, the ships will have aerodynamically designed superstructures to reduce wind resistance.

MOL ensures vessel safety and enhances protection of the environment.