Released on: August 5, 2008, 3:41 am

Press Release Author: Sarah Chase

Industry: Transportation & Logistics

Press Release Summary: 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.

Press Release Body: LONDON, 5 August 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.
####

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 www.MOLpower.com

Sarah A. Chase
Head of PR

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4HJ