K LINE URGENT UPDATES / BAF INCREASE / RATE RESTORATION

K Line trade updates

Baf increases ex China / HK / Taiwan / Korea / Japan to Australia:

Effective 4th December 2009, K Line will increase their baf from above countries to Australia.

The new baf will be:

USD$400/20' USD$800/40'

Southbound rate restoration from South East Asia to Australia:

Effective 15th December 2009, K Line will implement a rate restoration program. This will be from Singapore, Malaysia, Indonesia, Phillipines, Thailand, Vietnam to Australia.

The increase will be:

USD$250/20' USD$500/40'

Yours faithfully,

Loch M Fraser Logistics Pty Ltd