Independent verification statement 2005

1. Scope and method of work

Det Norske Veritas (DNV) have been engag ed to verify the 2005 sustainability report of COSCO Container Lines Co., Ltd (COSCON), covering the economic, environmental and social performance data collect ed by the head office in Beijing. Bas ed on the criteria of VeriSustain, the verification was conduct ed in November 2006. (Verisustain is DNV's protocol for verification of sustainability report, the criteria of VeriSustain are bas ed on Appendix IV of GRI 2000 and AA 1000) 。

As part of the verification process we have:

- interview ed the top management team and the relevant committees to review the mechanisms for implementing sustainable development,

- interview ed the major stakeholders (including the representatives of customers, suppliers, employees working on ships and work union) to understand their expectations.

- audit ed personnel having the responsibility to collect, aggregate, and report the data to measure the reliability of the data management system.

- review ed the relevant documents and proc ed ures to assess the effectiveness of the management system.

2. Conclusions

This first sustainability report prepar ed by COSCON meets the basic reporting requirements of GRI 2002. During the verification process, we have not found any systematic or major errors. Based on GRI's reporting principles, we have made the following conclusions about the report:

•  Accuracy ： Good 。 Part of the data are collected by SMIS from vessels. Other reporting data have been verified internally.

•  Responsiveness ： Acceptable; COSCON has engaged third party organization to conduct opinion surveys to measure COSCON's performance (customer satisfaction survey, business ethics survey with key stakeholders, employees' satisfaction survey).

The results of these survey could be better analyzed and utilized for the purpose of continual improvement.

•  Completeness and Neutrality ： To be improved 。 Some of the environmental indicators are not reported. Also the requirements of GRI Logistics and Transportation Sector Supplement have not been followed.

•  Comparability ： To be improved 。 The report has very limited comparative data(for both internal and external) 。

Overall Reliability ： Acceptable 。

We d o believe COSCON will implement systematic mechanisms and proc ed ures to enhance the overall quality of the future sustainability report.