MOL Launches Company to Operate Container Terminal in Cai Mep, Vietnam

TOKYO - Mitsui O.S.K. Line, Ltd. (MOL, President: Akimitsu Ashida) today announced that the company has received approval from the government of Vietnam to establish a new joint terminal operation company, Tan Cang Cai Mep International Terminal Company Ltd. (TCIT)^*. The new company will operate the Tan Cang Cai Mep International Terminal slated to open in February, 2011. Katsunori Moriya, General Director of MOL (Vietnam) Co., Ltd. has been named the first General Director of TCIT.

Masakazu Yakushiji, Executive Vice President of MOL commented, "We are very pleased to announce TCIT has received Investment Certificate from the Vietnamese Government. We are now working hard to establish the most efficient container terminal in Cai Mep. I strongly believe the operation of this new terminal will strengthen our position in South East Asia"

MOL is committed to providing top-quality container terminal services that meet Vietnam's high expectations through tie-ups with specialized partner companies.

1. Profile of JV company

(1) Name:

Tan Cang Cai Mep International Terminal Company Limited

(2) Business:

Container terminal operation

(3) Ownership:

Mitsui O.S.K. Lines, Ltd.
Saigon Newport Company (Vietnam)
Hanjin Shipping Co., Ltd.(Republic of Korea)
Wan Hai Lines, Ltd. (Taiwan)

2. Outline of terminal

Name:

Tan Cang Cai Mep International Terminal

Location:

Cai Mep region, southern Vietnam

Total area:

About 40 hectares

Total length of wharf:

590 meters (2 berths)

Draft:

About 14m
(capacity: Accommodating approx. 8,000 TEU containership)

Start of operation:

February 2011 (scheduled)

* Container terminal being developed in the Cai Mep River watershed in Ba Ria-Vung Tau Province, about 50km southeast of Ho Chi Minh City