June 15, 2006

Biendong Shipping Company and MOL
Launch Joint Container Service Linking Vietnam and Singapore

Biendong Shipping Company ( BIENDONG; Company Director: Bui Quoc Anh, head office: Hanoi, Vietnam ) and Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida, head office: Tokyo, Japan ) today announced the launch of the new joint container service (VSS) linking Haiphong, Ho Chi Minh City and Singapore. VSS shall deploy two of 610 TEU container vessels, one operated by BIENDONG and the other by MOL. These vessels are newly built by Vinashin Shipyard in 2006 with GL class and owned by BIENDONG.

The tie-up allows BIENDONG to offer international container service between Vietnam's two biggest ports and Singapore, in addition to current Thailand -Vietnam express service as well as Vietnamese domestic service in which BIENDONG has been the largest carrier.

The arrangement also helps MOL expand its own network in Vietnam. With quick connections to MOL's worldwide network at Singapore, VSS will give customers the fastest transit times from Vietnam to Indian sub-continent, Europe and other regions of the world.

VSS is the first step of strategic cooperation between BIENDONG and MOL in container shipping field. BIENDONG aims to offer high-quality container services more in Intra-Asia market through the partnership. MOL continues to contribute to development of Vietnam's shipping industry through various activities in shipping field, including its strategic relationship with BIENDONG.

・Start of service
Mid July, 2006 ( exact date to be advised )

・Transit time examples
Haiphong - Singapore : 6 days
Ho Chi Minh City - Singapore: 2 days