NYK Line North America Inc. to modify Chassis provisions in certain US markets

As previously announced, NYK Line North America Inc has begun the process of no longer providing chassis in smaller markets. In continuation of that policy we intend to expand the scope to include Denver/Salt Lake City Market.

The change is designed to build efficiencies while minimizing the environmental impact of having a large number of chassis that are used intermittently and have to be stored and moved. NYK Line believes that this policy change will not only lower total cost but will also build greater flexibility for the trucker, minimizing inefficiencies in the performance of their daily work. In addition, the policy change will have an immediate impact on terminal congestion reducing turn time and ultimately providing a better product for the customer.

Effective July 1, 2012 this policy will extend to the Denver/Salt Lake City. The timing of further extensions of the policy will be announced as the program evolves.

Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies. At the end of March 2009, the NYK Group was operating 779 major ocean vessels, as well as fleets of planes, trains, and trucks. The company's shipping fleet includes 154 containerships, 289 bulk carriers, 57 woodchip carriers, 112 car carriers, 80 tankers, 33 LNG carriers, three cruise ships, and 51 other ships. NYK's revenue in fiscal 2008 was about $24 billion, and as a group NYK employs about 55,000 people worldwide. NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo.