Product Chemical Tanker "Ivy Express" Attains MLC 2006 Certificate
-The World's First Vessel of Marshall Islands Registry-

October 26, 2010

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that a product chemical tanker Ivy Express managed by our group ship management company MOL Tankship Management (Europe) Ltd.^*1 received a certificate of the ILO's Maritime Labour Convention 2006 (MLC 2006)^*2 which is expected to come into force in the near future. The Ivy Express is the world's first vessel of Marshall Island registry which received the certificate.

MLC 2006 aims to improve the working and living conditions of seafarers, and is called as the fourth pillar of maritime treaties, following in the wake of the International Convention for the Safety of Life at Sea (SOLAS)^*3, International Convention on Standards of Training, Certificate and Watch-keeping for Seafarers (STCW)^*4, and International Convention for the Prevention of Pollution from Ships (MARPOL)^*5. The MLC 2006 goal is to establish global standards for maritime labour.

The treaty is expected to come into force in late 2011. MOL Tankship Management (Europe) respects the purport of the treaty, which led to acquisition of the Ivy Express. In the future, the company will also acquire vessels of registry other than Marshall Islands.

Furthermore, the MOL Group will continue its positive focus on the new treaty while continuing in striving for safe operation.

*1 MOL Tankship Management (Europe) Ltd.
An MOL Group ship management company for group-owned and operated liquid cargo transport tankers such as very-large crude carriers (VLCC) and product tankers. Located in London.

*2 Maritime Labour Convention 2006 (MLC 2006)
Maritime labor treaty adopted by the International Labour Organization (ILO)

*3 The International Convention for the Safety of Life at Sea (SOLAS)
The treaty makes provision for vessel inspection, issue of certificates, and so on for a safe life at sea, and establishes technical standards such as ship structure, facilities, equipment, and machinery, life-saving appliances, and safety measures regarding stowage of cargo.

*4 International Convention on Standards of Training, Certificate and Watch-keeping for Seafarers (STCW)
The treaty establishes uniform international standard regarding training requirements, qualification certificate, watch standards, and so on, for seafarers.

*5 International Convention for the Prevention of Pollution from Ships (MARPOL)
MARPOL stands for Marine Pollution. The treaty establishes technical standards of ship structure, facilities to prevent pollution, and so on, with the aim of preventing marine pollution.