CSAV NORASIA To Operate ABS Service Independently

Hong Kong, March 8th 2007—CSAV NORASIA has today announced that from late June it will be the sole vessel provider on its Asia Black Sea (ABS) service. With the service independently operated CSAV NORASIA will have the flexibility to respond to the needs of its customers and react to any changes in the market when necessary. The move to provide all eight of the vessels on the service will follow on from upcoming changes that will see CSAV NORASIA controlling all the space on the ABS service as all previous slot sales will have ended.

This latest change to the ABS follows on from the recent addition of Xingang and Qingdao in Northern China and eastbound calls in Jeddah and Chiwan to the service.

After the change to the service CSAV NORASIA will operate all eight vessels on the service, which operates with vessels of average capacity of 4,200 TEUs and speed of 22.5 knots. Port rotation is as follows:

The ABS is an established service on the Asia Black Sea trade lane and offers a range of access ports in Northern, Central, and Southern China to the Black Sea and Eastern Mediterranean regions. With extended eastbound calls, the service also offers further options for shippers to the Middle East, Indian Sub Continent, and Southern China.

CSAV NORASIA has seen increasing levels of demand for service to the Black Sea and East Mediterranean regions, to which it has responded by offering wider port coverage and increased capacity options. The latest enhancement to the ABS service reflects our commitment to our customers to offer a high quality service with the widest range of options, while at the same time focusing on reliability and providing outstanding customer service.

CSAV NORASIA is a leading shipping line in the East-West trade routes. Located in Hong Kong, it is part of the CSAV Group, which is located in Valparaiso, Chile. To know more visit our website www.csavnorasia.com

For enquiries please contact marketing@csavnorasia.com

(Thursday 08th March, 2007)