24-Nov-2000

[Hong Kong, 24 November 2000] On 21st November, Xiamen International Container Terminals (XICT) began servicing NYK’s M.V. “NYK Andromeda” as part of Grand Alliance’s Loop D service, a Europe service which was first launched at Xiamen in August 2000.

With a capacity of 6,214-TEU, M.V. “NYK Andromeda” is one of the largest 6th generation container vessels in the world. At present, the Grand Alliance operates 2 container liner services at XICT serving shippers in the Fujian region with cost-effective and efficient direct connections to Europe and US West Coast.

“I am pleased to announce that NYK Line has added the M.V. “NYK Andromeda”, to the Xiamen ¨C Europe service. With the rising trend in globalization of trade and with our aim to cope with the continuous growth in import and export trades in Xiamen and its hinterland, we provide one of the fastest Europe container liner services serving Xiamen,” said Mr. K. Aoki, Chief Representative of China for NYK Line. “In the coming two years, NYK will add 11 vessels of 6,600 TEU to our US and Europe services. I hope that some of these vessels will be deployed to the Xiamen service. All these moves signify that we are whole-heartedly supporting the Xiamen Government to boost the economy of Xiamen.”

Mr Patrick Lam, General Manager of XICT commented, “Today, XICT is very happy to receive one of NYK’s largest container vessels. Xiamen has been experiencing a tremendous growth in container throughput and judging from the current trend we expect to handle one million TEU in 2000, our highest yearly throughput ever. As a major port operator in Xiamen, we are collaborating with the shipping lines to offer unparalleled reliable and efficient services and to promote XICT as Fujian’s gateway to the world.”

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11/24/00