New African LNG Shipping Agency Contract for GAC

ANGOLA – WORLDWIDE - Angola LNG Supply Service (ALSS) has signed a global agreement with GAC, the Kuwaiti headquartered logistics group to provide ship agency services to its vessels. ALSS is a specialist transporter of liquefied natural gas owned by affiliated companies of Sonangol, Chevron, BP, Total and ENI and will be shipping LNG from the Angola LNG Project liquefaction plant in the north of the country to receiving terminals worldwide beginning in the 1st quarter of 2012.

Under the new contract, signed by ALSS's General Manager William E. Haune, Jr. and GAC's Group President, Capt. Lars Safverstrom, GAC Global Hub Services will serve as the provider of a variety of worldwide ship agency services for ALSS's chartered vessels. GAC Bunker Fuels will also act as a bunker trader for their fleet providing price updates, market intelligence and supply quotations.

ALSS will be using a fleet of seven LNG carrier vessels, each with a capacity of 160,000 cubic metres and GAC see this as an opportunity to confirm its position as a leading provider of logistics services to what is widely viewed as the main growth area for those in the shipping industry namely energy provision. Kumar Ganesan, GHS General Manager, feels this agreement strengthens and solidifies GAC's position as a market leader in the sector adding:

"The local expertise and global experience of GAC's agents will ensure the best front-line handling of all operational matters, complemented by the resources of GAC Global Hub Services and GAC Bunker Fuels, under a single umbrella to provide a reliable service to our Principal."