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Marine Log

January 24, 2007

Foss Maritime acquires ACT

Seattle-based Foss Maritime Company has acquired the marine assets of Jore International. As a member of the Foss family, Jore's America Cargo Transport will continue to serve existing international customers as well as new customers, delivering cargo in the Caribbean, Central America, South America, the Persian Gulf, East and West Africa regions.

The company will continue to deliver containerized U.S. Aid as well as military and commercial cargo, with an additional emphasis on transporting difficult to maneuver, high, wide and heavy cargo. In addition to delivering cargo safely to foreign ports, ACT will offer full service cargo logistics, including arranging delivery and ultimate distribution of the cargo.

America Cargo Transport Corp. (ACT) will operate as an independent, wholly owned subsidiary of Foss. Current ACT employees will remain with the company and continue serving the international shipper's commercial, government and military markets.

"America Cargo Transport is a very logical fit for Foss, both in terms of its focus and its culture," said Gary C. Faber, Foss President & COO. "Foss is committed to safely solving our customers' toughest marine transportation and logistical challenges in some of the most extreme environments in the world, and ACT shares this commitment. The addition of their experienced employees to our team, as well as their dedication to safety and high quality service will allow us to extend and expand our operations globally in a way that will provide the highest level of service to our customers."

Joe Sanders, ACT President, said, "This acquisition will allow us to realize our full potential. Combining Foss' strong operations knowledge with our international experience will result in improved, higher levels of customer service."

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