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September 25, 2002

Maersk switches boxships to U.S. flag
Norfolk, Va. based Maersk Line, Limited is taking full advantage of U.S. Maritime Administrator William Schubert's efforts to ease the acquisition of foreign-built tonnage by U.S. flag operators.

This month the company has announced the acquisition of, first, a Chinese-built, double hull tanker, then of four Korean built containerships.

Maersk Line Limited is a U.S. Citizen corporation that is part of the Danish based A.P. Møller Group.

The tanker, now the Maersk Rhode Island, was delivered this year to Maersk U.K.and is a 35,000 dwt double hull vessel that will be engaged primarily in transporting clean petroleum products. It is capable of carrying 5 grades simultaneously with true double valve segregation and special epoxy series coating in all cargo and slop tanks. It will have a U.S. Citizen crew of 19 seafarers.

Maersk Line, Limited today announced that it will purchase four modern Panamax G-Class vessels that it will operate under U.S. registry beginning in October 2002. They were built in Korea, two in 1997, one in 1998 and one this year.

Being acquired from other Marsk Group members, they will replace four older and slower 1,500 TEU vessels, each of the G-Class vessels has 4,300 TEU capacity and will be the most modern containerships in the U.S. flag fleet. Each will employ 19 American citizen merchant marinersand all four will be enrolled in the U.S. Government's Maritime Security Program.

"Maersk Line, Limited's continued investment in modernizing and upgrading its U.S. flag fleet will increase the containership capacity and capability available to support the needs of the sealift readiness requirements of the U.S. military as well as our commercial customers," said Ken Gaulden, senior vice president of marketing and government relations.

Maersk Line, Limited will operate the four new vessels in liner service between the U.S. East coast and ports in the Mediterranean, Middle East and Indian Subcontinent.

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