P&O Nedlloyd, LOG-NET in Shanghai Venture

Joint operation focusing on logistics information services to ease compliance with new U.S. Customs regulations

Joint operation focusing on logistics information services to ease compliance with new U.S. Customs regulations

Little Silver, NJ  September 2, 2003  LOG-NET, a provider of international Web-based supply chain execution solutions, and P&O Nedlloyd Logistics, have teamed up to establish a new company in Shanghai, China, that will focus on delivering logistics information services.

P&O Nedlloyd Container Line, one of the world's leading shipping lines and international logistics providers, is a 50:50 joint venture between Peninsular and Oriental Steam Navigation Company and Royal Nedlloyd NV. P&O Nedlloyd operates with 157 vessels, totaling 407,000 twenty-foot-equivalent units (TEUs). Founded in 1991, LOG-NET, Inc. of Little Silver, NJ was established to provide the trade, transportation and logistics information systems.

The new venture, LOG-NET Shanghai Data Service Company, further expands LOG-NET's international operations and provides electronic data interchange (EDI) and data entry of logistics-critical information required by trading partners.

Describing the new venture, John Motley, founder, president and CEO of LOG-NET, said: "LOG-NET Shanghai Data Service Company will deliver ... logistics services to help importers, exporters, manufacturers and retailers comply with the complexities of the recent U.S. Customs regulations, while ensuring timely movement of their cargo. This hybrid of LOG-NET and P&O Nedlloyd Logistics leverages the best of both companies to the benefit of global trading partners."

Johan Nanninga, President of P&O Nedlloyd Logistics said: "Shanghai is one of China's old industrial bases and has enhanced its economic relations with the world. In 2002 the imports and exports passing through Shanghai port reached $142.5 billion, a huge 143 percent increase on the volume of trade five years ago in 1997. This impressive growth, coupled with the critical need for electronic data interchange technology, makes Shanghai an ideal choice for our joint venture with LOG-NET."

John Motley, who has been appointed as chairman of the LOG-NET Shanghai Data Service Company, will be joined on the board by Nanninga and Edward van Dorp, general manager of P&O Nedlloyd Logistics China.