MOL Launches 320,000 DWT Iron Ore Carrier Tubarao Maru

London, United Kingdom (PressExposure) August 18, 2008 -- Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced the launch of one of the world’s largest iron ore carriers, the 320,000 dwt Tubarao Maru. The naming and delivery ceremony was held today at the Mitsui Engineering & Shipbuilding Co., Ltd. (MES) Chiba Works. The new vessel will sail under a long-term transport contract with Nippon Steel Corporation.

The Tubarao Maru is similar to the world’s largest iron ore carrier, the Brasil Maru, which was launched by MOL in December 2007. It is the second generation ship to bear the name; the original Tubarao Maru was launched in 1966.

Guests at the ceremony included Nippon Steel President Shoji Muneoka and MES President Yasuhiko Katoh. President Muneoka’s wife Yoko cut the rope and President Muneoka named the ship.

After the naming and rope-cutting ceremonies, the Tubarao Maru will go into service to transport Brazilian iron ore to Japan.

MOL became the first Japanese shipping company to operate a 300,000 dwt class very large iron ore carrier (VLOC) with the launch of the Brasil Maru in December 2007. Five of these VLOCs will sail under the MOL operating by August 2009.

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NOTES TO EDITORS:

Outline of Tubarao Maru Length: 340m Width: 60m Draft: 21.13m Deadweight tonnage: 327,127 tons Shipbuilder: Mitsui Engineering & Shipbuilding Co., Ltd.

Outline of Contract Contract: Contract of Affreightment(C.O.A.) Cargo: Iron ore in bulk Loading: Main iron ore ports in Brazil (Tubarao, Bonta De Madila) Unloading: Nippon Steel Corporation major mills (Oita, Kimitsu, etc.) Annual transport volume: About 1.4 million tons

MOL is one of the world’s largest multi-modal transport companies, operating more than 800 vessels and employing a workforce in excess of 8,600 worldwide. MOL operates one of the largest and most diverse networks of liner and logistics services around the globe, including weekly Transpacific, Transatlantic, Americas and Asia-Europe services. Please visit the company’s website at http://www.MOLpower.com

Sarah A. Chase Head of PR

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Press Release Submitted On: August 05, 2008 at 5:59 am
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