For Immediate Release

October 20, 2005

Contacts:

Ray Venturino Barbara Brotman Kaylor

(201) 896-4113 (410) 342-7500 ext. 223

r.venturino@ponl.com bbk@rooftopcommunications.com

PORT NEWARK CONTAINER TERMINAL DEDICATES NEW CRANES

Newark, NJ – Port Newark Container Terminal (PNCT) in Newark, New Jersey is hosting a special dedication event in honor of its two new Post Panamax cranes. The event will take place in a tent outside the main PNCT building and will include a reception, dedication ceremony, and tour of the PNCT facility with a special stop near the new cranes. PNCT and Port Authority officials, PNCT customers, and local politicians will be on hand to celebrate the event.

“We wanted to include all the people who have collaborated to make PNCT the successful container port it is today,” said PNCT President, Don Hamm. “Without their support we would not have been able to add these new cranes to our operation.”

Hamm went on to discuss the operational impact that the cranes would have on PNCT and the surrounding area. The cranes will provide greater efficiencies and flexibility in cargo stevedoring as well as meeting port and canal scheduling commitments.

The new Post Panamax cranes were manufactured this year by ZPMC in Shanghai, China. The cranes arrived at PNCT on August 26 and assembly was commenced immediately. PNCT expects the cranes to be operational by early December. Theoretical maximum throughput of the cranes is 50 moves per hour with a maximum outreach of 167.8 feet from the waterside rail.

Port Newark Container Terminal LLC (PNCT) is the joint venture company of P&O Ports and P&O Nedlloyd (PONL was recently acquired by Maersk-Sealand). It has a 30-year lease with the Port Authority of New York and New Jersey to operate a 176-acre container terminal in Port Newark, New Jersey.

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