| CKYH Management Meeting September 20th 2001 Shanghai |
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| The management of COSCO Container Lines Ltd., Kawasaki Kisen Kaisha, Ltd., Yang Ming Marine Transport Corp., and Hanjin Shipping Co., Ltd. (also representing Senator Lines GmbH) met together in Shanghai on September 20th 2001. In order to provide best services to their customers, the five Lines reviewed their successful cooperation pattern in the field of international sea container transport and blueprinted expansion of further cooperation. | |
| It was jointly agreed among the Lines that cooperation among the Lines in the industry was irreversible. The only way to provide best service to their customers in the container shipping industry is to strengthen the cooperation tie among the lines by means of optimization of each carriers’ assets, rationalization of their services on a global basis, and therefore to create the most competitive and highest quality service, which including, but not limited to, competitive transit time, convenient frequency and comprehensive port coverage. | |
| Therefore, the Lines have decided to study any feasible measure and accelerate the process of cooperation with an ultimate goal of establishing an alliance comprising COSCO Container Lines Ltd., Kawasaki Kisen Kaisha, Ltd., Yang Ming Marine Transport Cooperation, and Hanjin Shipping Co., Ltd. (also representing Senator Lines GmbH) based on their worldwide network. | |
| COSCO Container Lines
Ltd., Kawasaki Kisen Kaisha, Ltd., Yang Ming Marine Transport Corp., Hanjin Shipping Co., Ltd. Senator Lines GmbH |
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| For further information please contact: | |
| Kawasaki Kisen Kaisha, Ltd. | |
| T. Shimizu, General Manager, Containerships Business Group | Tel: +81-3-3595-5591 |
| Y. Myochin, Manager, Planning Team | Tel: +81-3-3595-5309 |