May 26, 2005

Hanjin, Senator, UASC and MOL Announce New Cooperation in
Asia-Mediterranean-Middle East Trade

Hanjin Shipping Co., Ltd. (Hanjin), Senator Lines (Senator) and United Arab Shipping Co. S.A.G. (UASC) will upgrade their Europe -Middle East-Asia Service (EMA) covering Asia, including China, Middle East and the Mediterranean, jointly with Mitsui O.S.K. Lines Ltd. (MOL) in late summer of this year.

The new cooperation will start from around the end of August, and will make it possible to upsize capacity and to line-up similar capacity type of vessels in the service. Providing weekly, fixed week-day port calls, the new EMA service will deploy eight vessels of approximately 3000 TEU capacity-four vessels will be operated by Hanjin, two by MOL and two by UASC.

The new EMA service will have the following rotation: Shanghai, Yantian, Singapore, Genoa, Fos, Valencia, Gioia Tauro, Jeddah, Khor Fakkan, Singapore and back to Shanghai.