May 12, 2004

MOL Launches China-Australia Loop (AU3)

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Kunio Suzuki) today announced the launch of a China-Australia Loop (AU3), on top of its existing two loop weekly service between North Asia/South China and Australia (AU1/AU2). The dedicated China-Australia Loop (AU3) will commence on 30th June as follows.

AU3 Service (China Rotation starts from Dalian)

The new service starts as a joint operation with COSCO Cotaniner Lines Co., Ltd., Kawasaki Kisen Kaisha ("K"Line), Nihon Yusen Kaisha (NYK Line), and P&O Swire Containers, Ltd., deploying five vessels in the 1,200 TEU class. Larger, speedier vessels as well as MOL operation of one vessel in the new service should significantly improve schedule reliability. The new loop will be the first direct service by MOL's Australia service to Dalian, which is a gateway port to many inland points in northern China. The service will call twice weekly at Shanghai, which is a gateway port to many Yangtze River ports.

Ports of Call & Rotation

Dalian (Wed/Wed) - Qingdao (Thu/Thu) - Shanghai (Sat/Sat) - Ningbo (Mon/Mon) - Melbourne (Sun/Mon) - Sydney (Tue/Tue) - Brisbane (Fri/Fri) - Dalian (Wed/Wed)

Transit Time

Southbound

From Dalian	Melbourne 18days / Sydney 20days / Brisbane 23days
From Qingdao	Melbourne 17days / Sydney 19days / Brisbane 22days
From Shanghai	Melbourne 15days / Sydney 17days / Brisbane 20days
From Ningbo	Melbourne 13days / Sydney 15days / Brisbane 18days

Northbound

From Melbourne	Dalian 17days / Qingdao 18days / Shanghai 20days / Ningbo 22days
From Sydney	Dalian 15days / Qingdao 16days / Shanghai 18days / Ningbo 20days
From Brisbane	Dalian 12days / Qingdao 13days / Shanghai 15days / Ningbo 17days

Initial Voyage

The first vessel is scheduled to depart Dalian on June 30th.

For further information, please contact:

    David Pinson
    Manager, Trade Marketing
    MOL (Asia) Ltd.
    TEL: +852-2823-6567
    FAX: +852-2143-6318

    Alex Rawley
    Trade Manager
    MOL Australia Ltd.
    TEL: +61-2-9320-1620
    FAX: +61-2-9320-1601

    Tomoyuki Suzuki
    Manager, Strategic Planning & Asset Management Group
    Liner Division
    Mitsui O.S.K. Lines, Ltd.
    TEL : +81-3-3587-7083
    FAX : +81-3-3587-7796