Japan/Bangkok Service Reorganization

May 10, 2002

We are pleased to announce that we will reorganize our Bangkok service (Phoenix/Dragon) to cover three additional new ports in China (Shanghai/Qingdao/Xiamen), commencing early June 2002.

This new service will allow us to offer more options in this growing market for cargo to/from China/Japan, and will also enable us to provide direct service from Thailand/Vietnam to China.

The reorganization includes:

The new Phoenix Service will call Xiamen on N/B voyage and will provide a Thai-Xiamen, Xiamen-Japan service. This will be the fastest T/T service (3 days) for cargo from Xiamen to Japan (Kobe and Osaka).
The new Dragon Service will call Shanghai and Qingdao and will provide direct service from Thailand/Vietnam to China. Cargo service from Shanghai and Qingdao to Hakata will be also available.

With these new services, we will maintain our current consortium scheme with Siam Paetra International Co., Ltd. (Thailand) and Hyundai Marchant Marine Co., Ltd. (Korea).

Service Details:

Phoenix Service
Kobe (Wed/Wed) - Osaka (Wed/Thu) - Shimizu (Thu/Fri) - Tokyo (Fri/Sat) - Yokohama (Sat/Sat) - Hong Kong (Wed/Wed) - LCB (Sat/Sun) - BKK (Sun/Mon) - LCB (Tue/Tue) - Hong Kong (Sat/Sat) - Xiamen (Sun/Sun) - Kobe

Commencement:
M/V SATSUKI V.83N ETD Bangkok 2^nd June

V.84S ETD Kobe 12^th June
Dragon Service
Hakata (Sat/Sat) - Busan (Sun/Sun) - Ho Chi Minh City (Fri/Sat) - Bangkok (Mon/Mon) - Laem Chabang (Tue/Tue) - Manila (Sat/Sat) - Shanghai (Tue/Wed) - Qingdao (Thu/Thu) - Hakata

Commencement:
M/V SANUKI V.12N ETD Bangkok 3^rd June

V.13S ETD Hakata 15^th June
Clipper Service - No Change

The news on this website is as of the date announced and may change without notice.

Commencement:	M/V SATSUKI	V.83N	ETD	Bangkok	2^nd June
		V.84S	ETD	Kobe	12^th June

Commencement:	M/V SANUKI	V.12N	ETD	Bangkok	3^rd June
		V.13S	ETD	Hakata	15^th June