P&O Nedlloyd announces equity partnership in OceanConnect.com

P&O Nedlloyd has signed a letter of intent to become an equity partner in OceanConnect.com, the global online marketplace for the purchase and sale of marine fuels, products and services.

Rutger Van Slobbe, Director of Fleet Assets & Procurement for P&O Nedlloyd, commented on the Company's new partnership with OceanConnect.com. "P&O Nedlloyd has extensively analysed every e-commerce initiative in the maritime sector. There is no doubt that a global, on-line bunker market will develop to supersede the current fragmented and opaque markets. OceanConnect.com is currently the leader in its class and will develop into the future sole standard in the on-line bunker market. P&O Nedlloyd intends to exclusively use OceanConnect.com when purchasing bunkers online. We are confident that OceanConnect.com will bring about a global, competitive bunker market in addition to great process efficiencies. P&O Nedlloyd expects the efficiencies and cost savings will deliver a compelling competitive advantage."

"P&O Nedlloyd has long been a leader in the marine industry. They are at the forefront of e-commerce developments in the container line industry. Taking a leading role in procurement is a natural step for them," said Tom Reilly, President of OceanConnect.com.