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PR RESS RELE EASE OLDE ENDORFF A AND UNITE ED BULK TERMINALS S INTRODU UCE DEMUR RRAGE FRE EE TOPOFF

SERVICE FO OR CAPESIZ ZE VESSELS FROM TH HE US GUL LF TO INDI IA AND FAR A EAST


burg, Ger rmany, No ovember 12, 2013 3 - United d Bulk Te erminals Lbeck / Hamb Oldendor rff Carrier rs GmbH & Co. KG G today announce ed their USA Inc. and O o market combin ned load ding and d shippin ng of co oal and cooperation to e in cape esize ves ssels from m the US Gulf Coa ast to In ndia and petroleum coke Asia. The new serv vice includes Unite ed Bulk Terminals T s export t terminal East A in Dav vant, Lou uisiana an nd Oldend dorffs to op-off ins stallation in Trinid dad. For the fir rst time customers s are able e to book fully load ded capes size vesse els from the US S Gulf Coast at a v very competitive f fixed rate e, face no o demurra age risk and re eceive hig gh quality y professional serv vice from two market leade ers. Custom mers will b be quoted one comp petitive an nd all-inclu usive freight rate for r loading of a ca apesize vessel up to maximum m available e draft (ap pproximate ely 47ft / 120,000 tons) a and a smaller shuttle e vessel of f approxim mately 50 t to 60,000 tons. Both h vessels will sa ail to Trin nidad whe ere the c cargo of the shut ttle vessel is cons sequently transfe erred into t the capesi ize vessel at Oldend dorffs exis sting top-o off installat tion. The contrac ct eliminat tes any de emurrage risk for the custome ers at Unit ted Bulk Terminals T Davant t and Trinidad. We are very exci ited about t the opportunity to t offer th his unique e service packag ge togeth her with Oldendorff, the worlds largest dry bulk carrier owner/ /operator. Our ongo oing expan nsion proje ect at Davant, where e we are c currently doublin ng our han ndling cap pacity to o over 20 million tons s per year, , will enab ble us to offer our custom mers the be est possible transshipment an nd freight t terms for coal and eum coke exports to o Asia sa ays Jan Vo ogel, President & CEO of Uni ited Bulk petrole Termin nals. Our world dwide fleet t of over 4 450 vessels and the existing top-off ope eration in Trinidad are no ow compl lemented by a hig gh perfor rming loading facil lity with ximately f four millio on tons o of ground d storage and stro ong ties to river approx transpo ortation adds a Patr rick Hutchins, Mana aging Dire ector of O Oldendorff Carriers London n. ''The Trinidad pro oject in the e Gulf of P Paria has been in op peration since July 2012 a and transs shipped m more than two million tons o of iron ore e in the f first four months s of operat tion''. Both c companies believe t that the c combinatio on of two successfu ul and est tablished operati ions will fo orm very competitiv c e and simple alterna atives for producers s, trading houses s and impo orters alike e. Because e no new investmen nts are req quired, the e service is avail lable with immediate e effect an nd with no long-term m commitm ment required from the cus stomers.

Althoug gh the new w transport solution n focuses p primarily o on one fre eight rate from the US Gulf Coast to o a discha arge port in India o or other A Asian desti inations, it can be expanded to also inc clude river r transport tation on t the Mississ sippi River. Already easily e today United B Bulk Term minals off fers packa age contr racts that t combine barge ortation with terminal handling g at Davan nt that avo oid barge demurrage e risk for transpo the cus stomer wh hile offering g high qua ality storag ge, blendin ng and sam mpling ser rvices. c the full logist tical chain is coordinated by Oldendorf ff and United Bulk In all cases Termin nals and ca an be boo oked either via Olde endorffs fr reight desk k in Londo on or via United Bulk Term minals cha artering bu usiness United Ocean n Charterin ng in Hous ston. dorff Carriers has a 92 year r history as s a leading g ship own ning and o operating Oldend company in the d dry bulk m market, currently con ntrolling 450 units consisting of o a fleet sels from handysize e to capes size and various v tra ansshipme ent units a and selfof vess unloading ships. Oldendorf ff carries o over 250 million m tons s of raw materials m and semid products s a year. The T Olden ndorff Grou up operate es innovat tive, reliab ble, costfinished efficien nt transshipment solutions in Turkey, T Gu uyana, Abu u Dhabi an nd Trinidad d. United d Bulk Te erminals is the dry bulk hand dling divisi ion of the Oiltanking g Group. Oiltank king GmbH H is a subsidiary o of Marquard & Bahls AG, Ge ermany, a leading petrole eum compa any, priva ately owne ed. Oiltank king is the second la argest inde ependent tank st torage pro ovider for petroleum m products, , chemical ls and gas ses worldw wide. The company owns a and operat tes 75 term minals in 2 23 countries within Europe, North and M Eas st, Africa, India as w well as Asia. Oiltank king has an overall South America, Middle storage e capacity of 22.8 m million cubic meters. ore inform mation on U United Bulk Termina als, Oiltanking and Oldendorf ff, please For mo visit ww ww.unitedbulktermin nals.com, www.oilta anking.com m, www.old dendorff.co om. uiries, ple ease cont tact: For further inqu United Bulk Term dorff Carrie ers minals Oldend ubt@un Alex.sm mith@olde endorff.com m nitedbulkte erminals.com +44 20 03 425 97 42 +1 281 1 457 7900 0 eight inqu uiries plea ase conta act: For fre United Ocean Cha Oldend dorff Carrie ers artering Fredrik Knutsen, Director Chartering Alex Sm mith, Char rtering Manager C Phone: +44 203 425 97 43 3 Phone: +1 281 457 7957 mith@oldendorff.com m fredrik.knutsen@ @unitedoceancharteri ing.com alex.sm