News Releases in 2008

January 10, 2008

NYK and Hyundai Merchant Marine (HMM) are pleased to announce an agreement to operate jointly in the container trade between Asia, South Africa, and the east cost of South America.

The new service will be named the "New Horizon Express" (NHX) and will commence operations from the second half of April. It will replace NYK's current New Good Hope Express Service (NGX), which NYK has operated together with Maersk Line and Hamburg Sud.

NYK and HMM aim to provide a greater level of service quality through a better integrity of schedules and fast transit times to main markets in Asia, South Africa, and the east coast of South America.

Masato Katayama, chairman for NYK Line do Brasil Ltda, announced, "This new configuration should greatly help NYK improve its customer service in the Asia to South Africa to South America trade, and moreover, allow NYK to build on its tradition of service to these areas."

Seung In Yang, vice president of HMM's Container Business Department in Seoul continued, "We are delighted to announce this brand new premium service, which will allow HMM to enthusiastically participate in the fast-growing South American market as we work to meet our customers' diverse needs."

The New Horizon Express will be a weekly fixed-day service operating a total of 10 vessels, eight from NYK and two from HMM, with a weekly capacity of about 2,500 TEUs.

The port rotation will begin at Shanghai and continue as follows:

Shanghai - Ningbo - Hong Kong - Singapore - Durban - Santos - Buenos Aires - Itajai - Paranagua - Santos - Itaguai (Sepetiba) - Singapore - Hong Kong - Shanghai
Other main ports in Asia will be covered by feeder connections.

NYK and HMM will use their global networks to enhance their locally focused capability of serving the needs of customers in fast-growing markets.

*About HMM
HMM is an integrated logistics company that operates approximately 100 state-of-the-art vessels. HMM has a worldwide global service network, diverse logistics facilities, leading shipping-related IT systems, and a highly trained, professional staff that makes every effort to provide premiere transportation services. HMM transports nationally strategic materials such as crude oil, LNG, and iron ore/coal, in addition to diverse special products and import/export goods. Earnings at KRW 5 trillion per year allow the company to play a major role in Korea as a vital economic artery. HMM has formed a global business network with four international headquarters, 23 subsidiaries, 57 branches, six overseas offices, and 10 liaison offices. The company is highly regarded as one of the world's leading integrated-logistics companies with its targeted market prospects, efficient organization, professional personnel, and advanced Internet systems.