Baltic Shipping and Seatrade Start ‘Reefer Alliance’

Baltic Reefer Group Ltd. and the Seatrade group of companies are pleased to announce the establishment of a new joint venture that will operate under the name of “Reefer Alliance”. “Reefer Alliance” will start operating as of the 1st January 2013 and will bring together the marketing and sales of both Baltic Shipping and Seatrade Reefer Chartering NV in specific trade lanes by combining both fleets of the two specialised reefer companies.

The purpose of “Reefer Alliance” is to achieve improved flexibility, improved service levels and increased efficiency by joint operation of the combined fleet of about 96 specialised reefer ships in the range of 350,000 to 626,000 cubic feet in three core trades:

South Africa to St. Petersburg

Chile to St. Petersburg

Morocco to St. Petersburg

This will maintain the parties’ ability to provide competitive and commercially attractive specialised reefer services in response to the competition of the container lines.

The parties will continue to operate their fleets in their present structure, and through optimized scheduling achieve the efficiencies looked for. The marketing of the new venture will be taken care of by Baltic Shipping in St. Petersburg.

Baltic Shipping will be represented by:

Anlin Shipping (PTY) Ltd. of Cape Town in South Africa

Beagle Navigation S.A. trading as Seatrade Chile of Santiago in Chile

Maritime Ship Services of Casablanca in Morocco

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Seatrade, December 31, 2012