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Panamax OOCL PANAMA is Born: Size and History in One Name

Date: 24-APR-2008

PANAMA CANAL ADMINISTRATOR'S WIFE SPONSORS SHIP'S CHRISTENING IN KOREA

PANAMA CITY, Panama, April 24, 2008 - Today, Panama Canal Administrator Administrator/CEO Alberto Alemán Zubieta and his wife, Ana Matilde Arias de Alemán, presided over the christening of the sixth 4,500-TEU Orient Overseas Container Line (OOCL) Panamax vessel, the current maximum size for a ship to transit the Canal. At a ceremony held at the Geoje Shipyard in Korea, the new Panamax vessel was given the name OOCL Panama in honor of the historic role that the Panama Canal has played in the development of global commerce.

"We at the Panama Canal Authority are humbled by this token of appreciation from OOCL," said Mr. Alemán Zubieta. "On behalf of my wife, who was given the honor to sponsor this state-of-the-art vessel and all Panamanians, I would like to thank OOCL for their kind recognition of our waterway and the contributions that our country has made to the industry and world commerce."

The Panama Canal is considered to be one of the seven wonders of the modern world, and is a spectacular feat of engineering and architecture. It has provided the world with a vital inter-oceanic link, and has had an unprecedented impact on the world shipping industry. The current Panama Canal expansion project, due to be completed in 2014, is the most ambitious plan since the Canal was constructed. Through its Expansion Program, the ACP will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.

"We are very honored to name our newest vessel after such a fascinating and historically important part of the world," said Mr. CC Tung, chairman and CEO of OOIL, speaking at the vessel's christening ceremony in Korea.

The OOCL Panama will initially be deployed on the Asia-Australia AEA2 service. The port rotation will be: Yokohama / Osaka / Busan / Qingdao / Shanghai / Ningbo / Xiamen / Hong Kong / Kaohsiung / Melbourne / Sydney / Brisbane and back to Yokohama in a 42-day round trip.

About Orient Overseas Container Line
Orient Overseas Container Line (OOCL) is a wholly-owned subsidiary of Hong Kong Stock Exchange listed Orient Overseas (International) Ltd. Headquartered in Hong Kong, OOCL is one of the world's leading container transport and logistics service providers, with more than 280 offices in 58 countries. Linking Asia, Europe, North America, the Mediterranean, the Indian sub-continent, the Middle East and Australia/New Zealand, the company offers transportation services to all major east/west trading economies of the world. OOCL is one of the leading international carriers serving China, providing a full range of logistics and transportation services throughout the country. It is also an industry leader in the use of information technology and e-commerce to manage the entire cargo process. Website: http://www.oocl.com/.

About the Panama Canal Authority
The Panama Canal Authority (ACP) is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The ACP is governed by its organic law and the regulations approved by its Board of Directors. For more information, please refer to the Panama Canal Authority's Web site: http://www.pancanal.com/.

 


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