• December 2007

The PDAC (Prospector and Developers Association of Canada) International Convention, Trade Show and Investors Exchange is the most important event in the world of exploration, bringing together over 18,000 attendees from all over the globe. Albacor Shipping was represented with a booth offering their transportation and logistic services to the large mining industry.

Albacor Shipping (USA) Inc. is pleased to announce that Sascha Tibo was promoted from Operations to Branch Manager of the Houston Branch effective 1/1/2008. Sascha has truly deserved this promotion as he successfully guided us through some troubled waters which are much calmer now. Congratulations, Sascha.

Ole Dammann, a project forwarder from Bremen, Germany, has joined Albacor Shipping Inc., Toronto, in the capacity of Project Manager. Ole brings with him many years of experience working in Germany in the field of project and oversized forwarding. Ole will enhance our project team and allow us to better serve our many project customers. Welcome aboard.

As in previous years, Albacor Shipping was well represented with our booth at the 2007 Breakbulk Exhibition and Conference in New Orleans, LA. As every year, this is a good opportunity to meet customers and service providers alike.

(Picture from left: Willy Hoffman / Sascha Tibo / Bernd Ferber / Don Kinsella / Jan Schultes).

Effective Aug 24th, 2007 Ray Ludwick has left Albacor Shipping (USA) Inc. We wish him all the best for his future endeavours.

We are welcoming Jan Schultes to Albacor Shipping (USA) Inc. Jan comes to us from Panalpina, where he has been working since 1995, for the last five years in the project department. Jan will be Operations Manager New York and will be working from our offices in Mahwah, NJ. Great to have you with us, Jan.

We have launched a major sales campaign in the Houston area and as a result needed to re-arrange our resources. Ray Ludwick will head up this campaign as VP Sales, reporting directly to Willy Hoffmann. In his capacity as Operations Manager, Sascha Tibo will be responsible for all operational aspects of the Houston Branch, reporting directly to Bernd Ferber. Bernd Ferber has taken over as Branch Manager on an interim basis.

Gary Rowntree, a well known transport professional with firm roots in the Alberta market, has joined Albacor Shipping Inc. in the capacity of Vice President Alberta. Gary will take over the activities for Albacor Shipping Inc. in Alberta. Joining him, as of Feb. 1st, 2007, will be Gaston Riquero as Operations Manager. We welcome both of them to the Albacor family.

Albacor Shipping successfully participated in the 2006 Break Bulk Conference and Exhibition in New Orleans, LA from Oct. 29 through Oct. 31, 2006. This was a perfect opportunity to meet customers and service providers alike. Albacor Shipping was well represented by delegates from each of its offices.

(Picture from left: Gerald Hess / Bud Joyce / Sascha Tibo / Bernd Ferber / Neal Beluse).

Albacor Shipping welcomes Bud Joyce in the capacity of Regional Sales Manager, US-Midwest. Bud has extensive experience in the heavylift, oversize and project transpoartation as is well known to manufacturers and exporters. Bud joins Albacor as of July 24, 2006 and will be working from his office at Youngstown, Ohio. Great to have you on board, Bud.

Effective May 1^st, 2006, Albacor Shipping (USA) Inc. is opening yet another office in the USA, this time in Houston, Texas. Located at 2825 Wilcrest Drive, the office will be managed by Ray Ludwick, Vice President. Ray has worked in the transportation industry for over 20 years and is well versed in all aspects of transportation and, in particular, project services. Welcome, Ray, and we wish you lots of success.

Alberta's economy is booming, especially in the energy sector, due to the large expansions in the oil sands in the northern part of the province. Albacor Shipping Inc. has made the commitment to it's many clients in that region by opening an office in Calgary. Led by Executive Vice President and Partner Norbert Tiemann, who relocated to Calgary from Toronto, we hope to be able to enhance our service package offered to our current and potential clients in that market.

Albacor Shipping (USA) Inc. is proud to announce the opening of an office in Los Angeles, California. Managed by Justin Gilmet, a transportation professional with extensive experience in project and particular rail transportation, the office will further enhance our commitment to our US and international clients. The office is located in Banning, California. Good luck, Justin.

Willy Hoffmann, well known in the transportation industry, joined Albacor Shipping (USA) Inc. in the capacity of Senior Vice President.

Willy brings with him a wealth of experience in particular in the project transportation field. He will be working from our New York offices located in Mahwah, New Jersey.

Welcome, Willy.

Albacor Shipping (USA) Inc.'s division PEARL LINE is proud to announce the opening of PEARL LINE GmbH. in Bremen, Germany. The company is operating as a NVOCC (Non-Vessel Operating Common Carrier) and specializes in the container traffic from Europe to North America. Managing Director is Ronald Krimmert, a transportation professional with many years of experience in the industry. Visit www.pearlline.com for more information