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U.S. President Barack Obama, Transportation Secretary Anthony Foxx Visit TraPac Jacksonville

July 30, 2013

TOKYO- Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) announces that U.S. President Barack Obama visited MOL's TraPac Jacksonville terminal with U.S. Transportation Secretary Anthony Foxx on July 25, as a part of his economic tour. President Obama and Secretary Foxx were met by TraPac General Manager Dennis Kelly, JAXPORT interim CEO Roy Schleicher and ILA representative Fred Wakefield, who escorted and briefed them during the visit.

Following the visit, President Obama also delivered a speech in which he discussed the importance of port investment. The following are some excerpts of President Obama's remarks:

"I want to thank Jacksonville Port Authority Chairman Joe York...I want to thank the CEO of MOL (America) Tsuyoshi Yoshida. I want to thank everybody here at JAXPORT for having me here today. I would like to recognize the folks from the port and TraPac for showing me the cranes you've got back at the terminal. Those are some big cranes."

"We've got to create more jobs today doing what you're doing right here at JAXPORT...We need modern ports so that we can move more goods made in America out to the rest of the world. If you want to create jobs right now, but also jobs that will have impacts for years, here is the way to do it...We know strong infrastructure is a key ingredient to a thriving economy...So that's why last year I acted without Congress, and I took executive action to speed up the permitting process that gets workers breaking ground on projects like this one."

Two infrastructure improvement projects at the Jacksonville Port Authority – channel deepening and on-dock rail - have been recognized for their national significance by President Obama.

"We appreciated the opportunity to meet with the President and discuss the importance of these infrastructure projects," said Tsuyoshi Yoshida, President/CEO of MOL (America) Inc. "I am impressed that the President grasped the value of these projects and optimistic that his commitment will benefit the transportation and logistics industry. After his speech, I thanked him for the visit and his strong support. He thanked me for the opportunity."

MOL/TraPac Jacksonville Background: For shippers, the big advantage of TraPac is that it's strategically located in one of the fastest growing regions in the country and offers strong connections to the Sunbelt and Midwest. With outsanding rail and highway access, as well as a cutting-edge container handling system, TraPac Jacksonville is part of a key hub for transportation and logistics – 60 percent of the U.S. population is within a 24-hour reach by truck.

Four MOL services call at Jacksonville (APX, CNY, NYE, SVS). The SVS is a direct result of MOL's ongoing efforts to develop products with competitive transit times and industry-leading on-time performance. In addition, TraPac Jacksonville's state-of-the-art automation delivers impressive in-terminal truck turn times (16-18 minutes). The 158-acre TraPac Jacksonville container terminal opened in 2009.