The New World Alliance and Grand Alliance Announce Joint Asia-US East Coast Service

July 28, 2006

The New World Alliance (TNWA) - Mitsui O.S.K. Lines, Ltd (MOL), APL, and Hyundai Merchant Marine (HMM), and the member lines of the Grand Alliance (GA) in the Transpacific trade - Hapag-Lloyd, Nippon Yusen Kaisha (NYK), and Orient Overseas Container Line (OOCL) - are pleased to announce that from August 2006 they will commence an Asia-United States East Coast service via the Panama Canal.

Each alliance will contribute ships with capacity of approximately 3,500 TEU per vessel to a weekly service that will operate on a 56-day rotation.

In Asia, the ports of Shanghai, Chiwan, Shekou, and Hong Kong will be served, while Norfolk and Savannah will be called in the US. The Panamanian port of Manzanillo will be served on the eastbound leg.

For both alliances, this new service will be the third all-water offering through the Panama Canal, in addition to the APX and NYX services for TNWA and the PAX and ECN services for the GA. The new service will allow both alliances to better cover their customers'growing shipping needs to the US East Coast.

This latest cooperation between the TNWA and GA highlights their ability to provide some of the industry's most responsive, proactive, customer-focused and competitive services.