March 9, 2005

MOL and Hiroshima Gas Conclude
Long-Term Charter Contract for New LNG Carrier

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that the company has formed a joint venture with Hiroshima Gas Co., Ltd. to transport liquefied natural gas (LNG). MOL and Hiroshima Gas each hold a 50% share in the company, called Maple LNG Transport Inc. Maple LNG Transport has ordered a 19,100 cm3 LNG carrier from Kawasaki Shipbuilding Corporation, and signed a 20-year charter contract with HG LNG Shipping Corporation, a wholly owned subsidiary of Hiroshima Gas.

The new LNG carrier is slated for completion in September 2007.

MOL is involved in 62 LNG carriers including ships under construction. Three of those ships, including the one as mentioned above, are 20,000-ton class vessels.

As the world leader in LNG, MOL continues its efforts to ensure safe and stable transport of this vital energy source in the future.

Ref. New LNG Carrier Specifications