Marine Transaction Services AS and SeaSupplier Ltd. Integrate Services

SeaSupplier Ltd (SSL), the marine e-procurement unit of Stolt-Nielsen S.A., and Marine Transaction Services AS (MTS), a provider of second generation e-commerce solutions for the marine market, announced today the joint development of a new e-commerce interface between the parties, with the capability to fully automate the marine e-procurement process.

The agreement links SeaSuppliers' shipping customers, including Stolt-Nielsen Transportation Group, Sea Bulk International, BP Shipping and Teekay Shipping - with the leading marine suppliers served by MTS - including Alfa Laval, Jotun, Unitor and Wrtsil Corporation.

"Through this collaboration, SSL and MTS have created an interface that gives the ship owner and supplier the opportunity to completely automate the marine e-procurement process," said Terry Kearney, Managing Director of SeaSupplier.

"The integration of MTS' and SSL's capabilities enables a quantum leap in efficiency and volume for marine e-commerce transactions yielding significantly higher levels of value for our respective customers," added Brynjar Gevelt, Chief Executive Officer of MTS.

By utilizing the interface, each order is evaluated automatically and routed down one of two paths. If the order is correct as submitted, then the supplier can proceed with an automated fulfilment of the order. Orders with inaccuracies are routed to a handler, with the incorrect items flagged. The inaccurate order is also routed back to the ship owner, providing feedback aimed at reducing inaccuracies in future orders.

"We are in effect creating a holistic improvement cycle that will continually drive increases in process efficiency, leading to optimized cost savings," noted Gevelt.

The integration of MTS' and SSL's customers has been in test for the last year. The joint platform is expected to be made available to the marine industry worldwide beginning in August 2005.

Under the terms of the agreement, the cost of the new service to SSL's and MTS's respective customers will remain unchanged; neither party will charge the other party's customers.

Both companies are supported by strong maritime partners and are committed to the development of maritime e-commerce solutions through a cooperative approach. Both companies also fully support 'roaming agreements,' which allow buyers to access suppliers through the e-commerce platform of their choice, i.e., either SSL or MTS, for the same low cost.