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CKYH to rationalize services

Xiamen Greating Logistics Co.,Ltd

Address: Unit 3A-3E, Yin Sheng Building, No.21 Xiangxing 4th Road,Modern Logistics Park(Bonded Zone), Xiamen, Fujian, China

Tel: +86-592-2616628 Fax: +86-592-2616660

E-mail: greating@greating-logistics.com

Greating Marine Logistics Limited

Address: Rm 1302 Bonham Trade Center No. 50 Bonham Strand East, Sheung Wan, H.K.
Tel: +852-37411123 Fax: +852-37411133
E-mail: greating@greating-logistics.com

Shenzhen Branch

Address: Room E-F, 6 /F., Block A, Sunshine Huayi Buayi Building ,NO. 3003, Nanhai Road,Nansang District, Shenzhen,Guangdong China5
Tel: +86-755-86293999 Fax: +86-755-86293933 86293900
E-mail: greating@greating-logistics.com

Guangzhou Branch
November 13th, 2008 – CKYH (Coscon, “K”LINE, Yang Ming, Hanjin Shipping) Alliance has announced today its plans for the rationalization of its services in order to respond to growing uncertainty in the world’s economy.

CKYH has already suspended the AWE (All Water East Coast) Central Loop from early October 2008, and reduced the total capacity in the CKYH AWE trade by around 18.5%.

CKYH also suspended their EMX (East Med Express) service in the Asia-East Mediterranean trade from the middle of October 2008. CKYH is now conducting an extensive study to further restructure the Asia-East Mediterranean services, including the ADX (Aegean Sea Direct Express) service.

In addition, CKYH will be making service changes as follows:

Firstly, the current capacity deployed in the TAS -1 (North Trans Atlantic) service connecting the U.S. and Europe, will be reduced by approximately 18%, which will be effective from the middle of November 2008. Existing calling ports and schedule will remain unchanged, but the size of the vessels deployed will be modified.

Secondly, the capacity in the PSW (Pacific South West) trade will be decreased. The current MAP (Mediterranean – Asia – America Pendulum) service connecting Mediterranean, Asia and the U.S. is to be terminated effective from early 2009. This is around 13 ~ 15% of the total capacity deployed in the PSW trade by the CKYH Alliance. However, CKYH will utilize current services, such as SEA (South China Express) as substitution for MAP service.

Thirdly, the European service CNX will be suspended from the end of January 2009, which is being operated with 8 Panamax vessels operated by Hanjin Shipping. With CNX suspension CKYH’s weekly capacity to North Europe shall be reduced by around 9 %.

CKYH will continue providing high quality services for its customers.