P&O Nedlloyd Signs Contract with IAS

Agreement to automate the capture, processing of container maintenance and repair data

Agreement to automate the capture, processing of container maintenance and repair data

Rotterdam — November 4, 2003 — International Asset Systems (IAS), a supplier of asset management solutions to the container shipping industry, announced at the Intermodal Transport and Logistics trade show today that an agreement is currently in place to assist in automating P&O Nedlloyd's critical container maintenance and repair data originating at over 300 of the ocean carrier's depots worldwide.

To help P&O Nedlloyd continue the process of automating the administration of maintenance and repairs for its container fleet, IAS said it is passing depot transactional data so that it populates the ocean carrier's proprietary maintenance system. Such transactions as gate moves, repair estimates, work orders and repair-complete messages are processed on a real-time basis via the IAS Hub, which is an Internet-based gateway for ocean carriers, lessors and other equipment operators.

"The increase in productivity due to the timeliness of the messages passed by the IAS system has entirely met with our expectations," said Mike Downes, general manager, International Container Management, P&O Nedlloyd. "Damaged containers waiting for repair estimates or approvals add cost to P&O Nedlloyd. IAS' industry-specific solution helps us manage the repair process of our container assets more efficiently by shortening the repair cycle and getting containers back into service quickly, thus reducing hidden costs and increasing availability to move cargo."

Prior to adopting IAS' services for depots, which were not already connected to the in-house maintenance system, P&O Nedlloyd said it received equipment repair cycle data by e-mail or fax. IAS services now enable depots to either upload data direct from their in-house depot management systems or create the data directly on IAS Web screens.

By year-end, IAS and P&O Nedlloyd plan to have a significant number of facilities connected to the IAS system, automating more that 400,000 depot transactions annually.

"We're pleased with the initial rollout for P&O Nedlloyd," said Robert Goodall, IAS director, Europe. "Not only will the end goal enable them to move the remainder of their depots from manual systems around the globe, it also provides the information needed for their M&R managers to make quality decisions about their container and chassis fleet."