The New World Alliance and the Grand Alliance Offer Joint Black Sea Service

June 25, 2008

Tokyo, Hamburg, Hong Kong, Seoul, Singapore, 25 June 2008 - The member lines of The New World Alliance (TNWA) and the Grand Alliance (GA) are pleased to announce a jointly operated service from Asia to the Black Sea starting mid-June 2008.

TNWA and the Grand Alliance carriers began co-operating in February this year with a slot exchange on their respective fortnightly services to the Black Sea. The new joint service will now provide shippers a weekly frequency with the common port coverage.

Eight vessels will be deployed on the service. TNWA members will operate three vessels. Grand Alliance member lines will operate five vessels. Hanjin and UASC will keep participating in this service as slot charterers. Capacity for these eight ships is about 5,000 TEU.

Port rotation for the Black Sea service is as follows:

TNWA service name: "EBX" (East-Mediterranean/Black Sea Express) Service

Shanghai, Ningbo, Shekou, Singapore, Suez, Istanbul, Constanza, Odessa, Constanza, Istanbul, Damietta, Suez, Jeddah, Singapore, Shanghai.

About The New World Alliance

TNWA member lines Mitsui O.S.K. Lines, Ltd. (MOL), APL, and Hyundai Merchant Marine Co., Ltd. (HMM) serve more than 50 ports using in excess of 120 containerships in the major East-West container trades.