GLOBAL NEWS & EVENTS

Korea's Hanjin Shipping Chooses Thermo King's MAGNUM® to Help Support its World-Class Services

Belgium (February 16, 2010) - Beginning as Hanjin Container Lines Ltd. in 1977, Hanjin Shipping Co., Ltd. was born in 1988 after a merger with Korea Shipping Corp. Today, Hanjin Shipping is Korea's largest carrier operating some 60 liner and tramper services around the globe transporting over 100 million tons of cargo annually. The company is a member of the Hanjin Group and has several subsidiaries and affiliates and a global business network with 4 regional headquarters, 200 overseas branch offices, and 30 local corporations. Hanjin Shipping's world-class logistics network includes 12 dedicated terminals in Rotterdam, Long Beach, Tokyo, Kaohsiung, and Busan, among others, and 7 inland logistic bases in such locations as Shanghai, Qingdao, Port Kelang and Busan New Port. A newly opened ship repair yard in China provides efficient repair services for Hanjin's own vessels, as well as other carriers. Quality equipment, seamless logistics and industry partnerships are all reasons Hanjin Shipping has become a premier total logistics service provider respected by the global community.

Dependable container reefers are essential to Hanjin's service offerings and for the first time, Hanjin has chosen Thermo King's MAGNUM® reefer to support its growing, World-class services. The company added 1,000 MAGNUM container reefers in 2009: 500 were in service in November 2009, and 500 more were added recently to its fleet via leasing company Textainer. Those reefers were delivered to Hanjin's box builder MCIQ in September 2009 and were in service by December 2009.

"We are impressed with MAGNUM's performance," said Mr. Jong-Nam LEE, Team Head of Equipment Operation Team. "The reefers offer the lowest shipping temperatures available in the industry AND help us reduce operating costs with low energy consumption. We also enjoy flexibility with the MAGNUM units; we have a wider range of possible reefer cargoes. The MAGNUM can handle fresh to deep frozen efficiently."

Hanjin covers 50 routes with 290 vessels. The company's major routes include North America to Asia, Asia to Europe, Europe to South America, and North America to Europe. Hanjin's annual average shipping volume is approximately 170,000 teu (including reefer cargoes).

"We are thrilled to begin a partnership with Hanjin and look forward to supporting the company as it continues to grow," said Caeser Yiu, Thermo King director, Asia Pacific Region and Global Leasing. "With varying cargoes and routes, we know the MAGNUM reefer will complement Hanjin's quest to provide flexible, worldwide service. Not only does MAGNUM allow deep frozen transport (-35 degree C) but its efficient operation, ease of use, reliability, and fast and powerful pull-down make it a perfect choice for any refrigerated cargo."

More information about Hanjin Shipping can be found at www.hanjin.com.

Thermo King is the global leader in solutions for temperature-controlled transport, supplying the world market from 11 production facilities and over 800 distributors world-wide. The company offers a wide range of refrigeration and heating units for vehicles of all sizes, from small vans to large trailers, as well as airborne and ocean-going containers. In addition Thermo King provides heating, ventilation and air-conditioning equipment for passenger buses and railcars.

Thermo King also offers service maintenance programmes and finance solutions, as well as a range of accessories, temperature monitoring, and tracking equipment. For more information on Thermo King's products and services please visit www.thermoking.com.

Thermo King is a business unit of leading diversified industrial company Ingersoll Rand, a global provider of products, services, and integrated solutions to industries as diverse as transportation, manufacturing, construction and agriculture. Further information on Ingersoll Rand can be found on the company’s website at www.irco.com.


Thermo King Corporation, a business unit of diversified industrial firm Ingersoll Rand Company Limited, was founded in 1938 and manufactures transport temperature control systems for a variety of mobile applications, including trailers, truck bodies, buses, shipboard containers and railway cars. The company operates 10 manufacturing facilities and 17 parts distribution centers worldwide. Sales and service is provided by a global dealer network of 865 independently owned companies in 75 countries.


Contact:
Pietro Sonza Reorda, Thermo King Corporation
32450 204352
Pietro Sonza Reorda

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