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Hapag-Lloyd Container Line Expands Management and Organization

Maritime Activity Reports, Inc.

January 10, 2006

In line with its integration of CP Ships, Hapag-Lloyd is enlarging its organization from three to five regions. The management will also be expanded accordingly with the inclusion of CP Ships executives Juan Manuel Gonzalez, Glenn Hards and Alan Boylan. Hapag-Lloyd, based in Hamburg, currently manages its business from three Region headquarters Hamburg (for Europe), Singapore (for Asia and Australasia) and New York (for America). After acquiring CP Ships at the end of last year, Hapag-Lloyd is now setting up two new regions: "South Europe", based in Genoa, and "Latin America", based in Tampa, Florida. Glenn Hards, as Executive Vice President Operations at CP Ships responsible for the ship and container fleet, will in addition to these duties, serve as managing director of Hapag-Lloyd Container Line heading the Region South Europe, covering all countries bordering the Mediterranean, the Middle East and services to Africa. Region Latin America, beginning in Mexico and extending southwards as far as Argentina and Chile, will be headed by Juan Manuel Gonzalez, Executive Vice President Commercial at CP Ships and responsible for Latin America, Asia and Australasia. He will assume this function in addition to his current duties. Alan Boylan, responsible as Executive Vice President Commercial at CP Ships for the Atlantic trades, will also be in charge of all aspects of the integration of CP Ships into Hapag-Lloyd as Integration Chief Executive. Juan Manuel Gonzalez, Glenn Hards and Alan Boylan will therefore be members of the executive body of Hapag-Lloyd Container Line (Excom).

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