OceanConnect.com

Tuesday, July 25, 2000
OceanConnect.com, the global e-commerce marketplace for the purchase and sale of marine fuels and products, began operations on July 25 as the first step in a 90-day launch period. Initial transactions will be for delivery in the Rotterdam/ARA area (The Netherlands). Transactions for delivery in Singapore, Fujairah, and the U.S. will follow shortly. At the conclusion of the launch period, OceanConnect.com will be able to facilitate transactions from simple bids to reverse auctions, blind bids, swaps, futures and derivatives. Principal benefits to buyers will include greater market liquidity and productivity improvements. Suppliers, meanwhile, can significantly improve their market base. In addition to serving as an on-line marketplace for the marine industry, OceanConnect.com will also offer users specially developed content including pricing news and analysis from strategic partner Petroleum Argus, industry event updates and commentary by shipping industry columnist Michael J. Marco.
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