Oslo January 24, 2007 - Höegh Autoliners and A.P. Moller - Maersk through its subsidiary Maersk Shipping Singapore have today agreed that effective from 1 February 2007, they will enter into cooperation with their respective fleets of car carriers.

Höegh Autoliners and A.P. Moller - Maersk each remains individually responsible for the technical management and crewing of own vessels.

The new cooperation is established to provide increased capacity, faster transit times and higher frequency to meet customers requirements. The Car carriers owned by Maersk Shipping Singapore will enter the cooperation as time charter commitments expire.

Höegh Autoliners’ strategy is to grow with its global customers and offer worldwide transportation services with basis in the core competencies as a port to port transportation provider and to be a network partner providing effective logistics solutions.

"Our customer oriented business approach remains at the core of the business model and our customers’ cargo projections motivate our ambitions to grow," says Thor Jørgen Guttormsen, CEO of Höegh Autoliners. "The cooperation with A.P. Moller - Maersk improves our ability to meet our customers’ requirements for services and transportation volume."

Maersk Shipping Singapore owns a fleet of Ro/Ro car carriers, which historically have been chartered out to the Car Liner Operators. "We are looking forward to enter into this cooperation with Höegh Autoliners. We believe in Höegh Autoliners’ customer oriented strategy and expect the cooperation will make a strong product even stronger. We believe we can contribute positively to the cooperation based on our Groups capabilities within global transport and logistics" says Søren Skou, Group Executive Board Member, A.P. Moller - Maersk .

The world production of factory new cars has grown steadily to about 62 million units in 2006. World car production is expected to continue growing to about 90 million units in 2015 representing an annual growth rate of 3 – 4%. Historically about 15% of the production volume is exported overseas.

In addition the globalization of the car manufacturing industry has brought about structural changes to production models, which is affecting seaborne transportation positively resulting in additional growing demand for transportation services.

On this background Höegh Autoliners expects the market for Ro/Ro car carriers to remain strong and has experienced growing interest from customers to secure future transportation capacity.

Höegh Autoliners started its Ro/Ro car carrier operation in 1969 and deploys some 55 vessels in its global trade systems that are managed from a worldwide network of 22 offices. The fleet consists of owned and chartered vessels. Main customers are major manufacturers of new cars and heavy machinery and rolling goods and Höegh Autoliners carried about 1.8 million car equivalent units (CEU) in 2006.

Höegh Autoliners is in the middle of a fleet expansion program and 15 more newbuildings already ordered will be delivered from 2007 to 2011.

Oslo January 16, 2007 - Hull 4440, to be named Höegh Shanghai, was delivered today 16 January 2007 at 11:35 hrs. LT at Daewoo Shipbuilding and Marine Engineering (DSME) Shipyard, Okpo.

Hull 4440, to be named Höegh Shanghai, was delivered today 16 January 2007 at 11:35 hrs. LT at Daewoo Shipbuilding and Marine Engineering (DSME) Shipyard, Okpo. She sailed 13:30 hrs. heading for Shanghai, China where she will be named in a naming ceremony on 19 January.

Job well done, site team! headed by Jan Thore Foss.

Hull 4440 is the 7th Pure Car Truck Carriers in the series from DSME. The vessel has a car deck area of 54,000 m2, which can accommodate 6,100 standard car units.

Vancouver January 18, 2007 - Trade through the Port of Vancouver grew four per cent to 79.3 million tonnes in 2006, with exports of canola showing a marked increase of 48 per cent over 2005 and container traffic reaching 2.2 million TEUs (twenty foot equivalent units).

"In 2006, the port community worked very closely with transportation providers and labor to meet Canadian consumer demand and handle the ever-increasing growth through the Port of Vancouver," said Captain Gordon Houston, President and CEO, Vancouver Port Authority.

The Port of Vancouver was the only Pacific Northwest port to post overall tonnage growth in 2006. Strong Canadian market volumes and fewer cargo diversions through U.S. ports contributed to overall volume increases. However, according to Houston, "Maintaining Canada's competitive trade position requires that we continue to work with our industry and community stakeholders to develop sustainable growth solutions, including infrastructure, labor supply, reducing the port's environmental footprint, and gaining community support."

"Canada enjoyed strong growth in most commodities in 2006, with continued high Asian demand for Canadian exports," said George Adams, Chairman, Vancouver Port Authority. "This trend is expected to continue in 2007, and it will be important for the VPA to concentrate on building its cooperative relationships with stakeholders to meet demand for growth and efficiency."

Most sectors experienced growth in 2006, with the exception of dry bulk.

Notable 2005 year-end statistics include:

• Coal exports dropped 5.3 per cent.
• With a 59 per cent market share, China continues to be the leading recipient of sulfur exports through the Port of Vancouver, but tonnage has fallen 11 per cent due to low volumes at the start of the year.
• Potash volumes, particularly exports to China, remain below 2005 levels in spite of a 58 per cent recovery in the second half of 2006. Prospects for future growth remain good.
• Overall forest products traffic was strong as a result of strong demand from Asia. Exports of forest products to China increased by 25 per cent to 2.2 million tonnes in 2006. Volumes of forest products exported to Japan and South Korea also increased by three per cent and nine per cent respectively.
• Volumes of lumber exports to Japan, the port's largest lumber trading partner, increased by three per cent in 2006 after falling 18 per cent from 2004 to 2005. Japan's economic situation and the growth of its construction and housing markets drove lumber demand in 2006. Overall non-Japanese lumber markets are also strong and increased by 25 per cent in 2006 compared to 2005.
• Breakbulk woodpulp exports from VPA terminals have declined since 2005. Excess global capacity and strong international competition have impacted the domestic industry. However, exports overall in 2006 were strong to the port's main woodpulp trading partners - Japan, South Korea, and China.
• The sharp rise in canola exports, due to strong harvests and high global oilseed demand for producing biofuels, continues to drive total grain and agri-product volumes well above budgeted projections and 2005 volumes.
• Tighter global markets and higher production have driven wheat well over 2005 volumes.
• Petrochemicals are performing well as demand from Asia has been higher than expected. Outbound volumes increased by 61 per cent to China, which is the port's largest trading partner for organic chemicals. Volumes are expected to continue their upward trend over the coming months, as Asian economies continue to demand inputs into the manufacture of coolants and solvents as well as polyester resins, films, and fibers.
• Crude petroleum volumes are back to their budgeted volumes after being 13 per cent below forecast for the first three quarters of 2006. Outbound volumes of crude to the U.S. increased by 142 per cent in November. Continued high demand from U.S. refineries towards the end of 2006 is keeping inventory levels high, which takes advantage of the current market - characterized by high prices and strong financial returns.
• Breakbulk iron, steel and alloys at VPA terminals increased significantly again in 2006 compared to the same period in 2005. Major construction and building projects in BC and Alberta have continued to increase demand for import steel.
• 2006 season-end cruise results were down from 2005 as a result of cancelled sailings that were unanticipated at the time of the original cruise passenger forecast. It was also expected that there would be more sailings added to the schedule between the time the budget was set and the start of the cruise season. Seattle continues to be the main competitive threat to Vancouver's cruise business, but Vancouver still holds the cruise homeport market leadership position.

The following is a statistical summary by sector and major commodity:

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Cargo Totals Dec. 2006 YTD Dec. 2005 YTD Change (%)

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Total Tonnage

(metric tonnes) 79,309,199 76,480,803 3.7 %

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Dry Bulk (metric tonnes) 50,142,303 51,020,758 -1.7 %

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Coal 23,902,144 25,234,048 -5.3 %

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Sulphur 5,769,622 6,134,107 -5.9 %

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Potash 4,683,837 5,878,160 -20.3 %

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Forest Products

(metric tonnes) 8,695,865 8,011,423 8.5 %

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Lumber 2,222,582 1,994,964 11.4 %

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Woodpulp 4,464,651 4,339,198 2.9 %

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Grain (metric tonnes) 10,520,194 8,448,132 24.5 %

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Canola 4,308,730 2,906,989 48.2 %

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Wheat 5,605,720 4,898,830 14.4 %

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Liquid Bulk (metric tonnes) 8,390,934 7,674,496 9.3 %

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Chemical 2,900,019 2,661,335 9.0 %

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Petroleum Products 5,389,026 4,904,863 9.9 %

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Total Break Bulk

(metric tonnes) 3,164,838 3,385,633 -6.5 %

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Containers

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Total TEUs

(twenty-foot

equivalent units) 2,207,730 1,767,379 24.9 %

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Import Laden TEU 1,120,762 857,225 30.7 %

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Export Laden TEU 762,388 668,665 14.0 %

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Cruise Revenue Passengers 837,823 910,172 -7.9 %

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Matson Decreases Fuel Surcharge by 1.25 Percentage Points 

Oakland January 23, 2007 - As a result of recent declines in bunker fuel prices, Matson Navigation Company announced today that it is lowering its fuel surcharge in its Hawaii, Guam/CNMI and Micronesia services by 1.25 percentage points, from 18.75 percent to 17.5 percent, effective January 28, 2007.

"Bunker fuel prices continue to decrease, allowing us to make this third consecutive reduction to our fuel surcharge," said Dave Hoppes, senior vice president, ocean services. "Following an extended period of rapidly escalating fuel costs, we’ve been encouraged by this recent ongoing downward trend. For customers, this represents another decrease in shipping costs ranging from $25 to $80 per container. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly. While fuel prices remain volatile, we are hopeful this current trend will continue."

Key West January 23, 2007 - Deep Blue Marine Inc. is pleased to announce that the company is preparing for the upcoming treasure hunting season, and equipment and boats are ready to go. Deep Blue has leased the "Lady Laura," a 40-ft. Novi hull rough water boat, for the upcoming season. The company will concentrate a good portion of their efforts on the "Woman Key" site this year, but also has plans to send a boat and crew to the North Carolina site in early summer. The company has entered negotiations for the development of a permit in a third area.

Wilf Blum, President and CEO, said, "This season appears to be very promising. With the addition of the "Lady Laura" we now have 3 boats that we can dive from and run surveys from allowing us to pay attention to the other sites we have contracts with. We have spent a lot of time getting to know the site and preparing to move forward with the exploration of Woman Key and other sites we are negotiating on. At this time we can’t say too much, but the future looks pretty exciting and the crew is ready to dive. The hardest part of the job is the waiting on weather to clear so we can get going again."

Seattle January 17, 2007 - Foss Maritime Company announced that the company has reorganized its corporate structure effective January 1, 2007 in order to better serve its customers. The reorganization marks a shift from a regionally organized company to a line of business structure.

With this new structure, the company is pushing for increased accountability and greater depth of experience in their customers’ industries, with single individuals responsible for each of the company’s major lines of business including: tanker escort and assist, container ship assist, ship bunkering, marine transportation, project cargo, shipyard and engineering services.

"Our customers are increasingly global. They have a need for services in many ports across the country and the world. We want to make it as easy and seamless as possible to work with us," said Foss’ new president and chief operating officer, Gary C. Faber.

Foss announced that it was restructuring for the following reasons:

• To provide a focused and consistent emphasis on Foss’ Operational Excellence Core Values—including increased accountability to meet health and safety goals throughout the entire fleet—regardless of location.

• To give Foss customers a single point of contact for their business, regardless of geographic location.

• To provide a more open flow of internal communication and respond to recent results from Foss’ employee opinion survey that called for more open dialogue.

"I believe a functional, rather than a regional, organization will provide the greatest opportunity for us to achieve the desired results of greater customer satisfaction and better internal communication," said Faber. "It underscores the fact that the company’s success depends on each employee—whether that employee is in Seattle or Houston."

As part of the restructure, several new senior level positions were announced. Scott Merritt, Senior Vice President, will now head up the Domestic Services group. Other appointments in this group include Don McElroy, Senior Vice President Marine Transportation; Dave Hill, Vice President Harbor Services; Ric Gerttula, Director Contract Towing; Tim Beyer, Director Regional Towing; Ron Bates, Director Ship Assists; and Wendell Koi, Director Customer Service.

Charlene McArthur, who recently joined the company, will head the Management Services group as Vice President.

Washington January 24, 2007 - American-based ship operator, Pacific-Gulf Marine, Inc. (PGM), was sentenced today for deliberate acts of pollution involving a fleet of four ships, in violation of the Act to Prevent Pollution from Ships. U.S. District Judge William M. Nickerson sentenced PGM to pay a $1 million criminal fine, $500,000 for community service and serve three years of probation under the terms of a rigorous Environmental Compliance Program (ECP), which is subject to court approval.

According to documents filed in court, including a Joint Factual Statement signed by the company's chief executive officer, PGM admitted that the ships illegally discharged hundreds of thousands of gallons of oil-contaminated bilge waste without the use of an oily water separator, a required pollution prevention device. Instead, the ships used secret bypass pipes, sometimes referred to as a "magic pipe," to circumvent the oily water separator.

After learning of the federal investigation, PGM voluntarily disclosed to investigators the results of an internal investigation comprised of approximately 50 reports of interviews with various current and former employees who had worked aboard the four giant "Car Carrier" vessels used to transport vehicles. Many of the interviews contained confessions, admissions or otherwise revealed incriminating information and evidence of illegal conduct, according to documents filed in court.

Both the Department of Justice and the EPA have voluntary disclosure programs under which a company can seek non-prosecution if it discovers violations and reports them in a timely manner prior to a government investigation. Prosecutors advised the court today that while PGM's cooperation occurred after the initiation of the criminal investigation, it was nevertheless substantial and warranted significant credit. At the sentencing hearing today, Judge Nickerson recognized that PGM had provided significant cooperation in the government's investigation.

"We will continue to prosecute companies who use our oceans as dumping grounds until those shipping companies clean up their acts," said David M. Uhlmann, Chief of the Environmental Crimes Section of the Justice Department's Environment and Natural Resources Division. "But this case also demonstrates that companies like PGM can help right their wrongs by cooperating with criminal investigators, and we are hopeful that others will follow PGM's example by identifying misconduct within their organizations and voluntarily disclosing that information to law enforcement officials."

"We will continue to work to protect the Chesapeake Bay and Maryland's other waterways by prosecuting people and companies that pollute them in violation of federal law," said Rod J. Rosenstein, U.S. Attorney for the District of Maryland. "We are fortunate that PGM responded in this case by accepting responsibility for its actions and assisting in our investigation."

Under the terms of the plea agreement, half of the $500,000 community service payment will fund environmental projects to improve, restore or study water quality in the Chesapeake Bay in Maryland, while the other half will fund environmental education for mariners at U.S. maritime schools.

PGM admitted that its shore-side management "failed to provide sufficient management resources and support to the ships, and also failed to exercise sufficient supervision and management controls to prevent or detect criminal violations by its employees." The motive for the criminal conduct was to save money, according to papers filed in court.