The member lines of the Grand Alliance, Hapag-Lloyd Container Line (HLCL), Malaysia International Shipping Corp. (MISC), Nippon Yusen Kaisha (NYK), and Orient Overseas Container Line (OOCL), have outlined their service structure for 2006, following a resignation notice being served by P&O Nedlloyd, which will take effect on or about February 12, 2006.

The new vessels ordered by HLCL, MISC, NYK and OOCL will be deployed to meet the projected growth in demand and services. Together, they will offer a total capacity of 640,000 teus with 112 vessels dedicated to the three main East-West trade lanes, an increase in tonnage of approximately 14% in 2006 - in line with market requirements.

Having the most modern fleet in the world with the largest number of post-Panamax vessels enables the Grand Alliance to continue offering its current service coverage, with adjustments that will provide greater relevance and value to its customers.

Initial discussions have taken place with the new owner of P&O Nedlloyd. Both sides have pledged full cooperation to ensure a smooth and seamless transition in 2006.