July 7, 2004

MOL, NYK, Offers Car Carrier Know-How
to China Guangzhou Port

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today announced that MOL and Nippon Yusen Kaisha (NYK) have signed a contract to share their technological expertise on car carrier terminal operations with Guangzhou Port Group Co., Ltd. The companies will help Guangzhou Port Group develop car carrier terminals at the port of Xinsha, where many overseas car carriers will call in the future.


On hand for the July 6 signing ceremony in Guangzhou city were Guangzhou Port Group Chairman & CEO Chen Hongxian , MOL Executive Officer Toshitaka Shishido, and NYK Managing Director and Representative for China Koichi Aoki.


Guangzhou Port Group plans to construct a motor pool with a storage capacity of 1,700 completed cars at the port of Xinsha by the end of October. MOL and NYK will provide technological expertise related to operational management of the motor pool, operations to move completed cars to the wharf, loading them onto the ships, and on-board cargo handling.


With China's automobile market showing tremendous growth, full-scale shipment of completed cars from Guangzhou is slated to start next year. Advanced technology from MOL and NYK will contribute to higher loading efficiency and improved quality of completed car exports from Guangzhou.