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Contship Containerlines Wins Third Party Endorsement

Maritime Activity Reports, Inc.

December 13, 2002

Contship Containerlines services between Australia and Europe - currently being upgraded into two contra-rotating loops - now enjoy third party endorsement at both ends of the trade. This year, the line's tightly integrated existing network of three strings covering markets in the Mediterranean and North Europe, Australia and New Zealand has picked up awards for best transit times and schedule reliability from two independent authorities on the subject. In Australia recently, at the Lloyd's List Daily Commercial News Shipping Awards, Contship Containerlines scooped first place for schedule integrity in the trade from Australia to Europe, as well as from Australia to South Asia. At the Lloyd's Liner Analysis Awards ceremony in London earlier this year, the container shipping operator took first place for both schedule reliability and transit times to the Australian base ports of Fremantle, Melbourne and Sydney. Comments David J. Halliday, Senior Vice President of CP Ships with overall responsibility for Contship Containerlines: "As we bid farewell to our existing service network in this trade, we are pleased that they are going out with an award-winning bang.”

Under the restructuring, Contship's existing services have been replaced by two contra-rotating round-the-world strings. Both strings operate a fixed-day weekly schedule; one sailing eastbound, the other westbound. The eastbound string sails out from Europe to Australasia via the Suez Canal, returning via the Panama Canal and the East Coast of the USA. In total ten newbuildings operated by Contship and its partners are deployed in this string; three to be provided by Contship. In the westbound string, ships sail from Europe to the Pacific Islands and Australasia via the Panama Canal, returning via South East Asia and the Suez Canal. Twelve ships of 2,200 teu average capacity are deployed in this service, with three provided by Contship.

"The new services give shippers faster transit times and guaranteed fixed-day weekly sailings, plus opportunities to expand into new markets through new port rotations," added Halliday. "The new ships are entering service between now and the end of the year. They are considerably larger than any other Contship Containerlines ships deployed in any of its trade lanes, and the largest reefer containerships in the world. We intend that the service they provide will also be award-winning!"

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