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PRESS RELEASE

For Immediate Release: 03 Feb 2005



OceanConnect and Starsupply expand Derivative Broking Alliance to Singapore


Expansion to Singapore provides customers with global coverage in derivatives and physical markets.

WHITE PLAINS, NY, February 3, 2005 - OceanConnect President Thomas K. Reilly announced today that OceanConnect and Starsupply have expanded their derivative broking alliance in Singapore. "OceanConnect and Starsupply bring global experience in the fuel oil and other derivatives markets," Reilly said.

The alliance with Starsupply, the leading derivative broker, has been in operation from OceanConnect's headquarters office in NY for nearly three years. Clients include major oil companies, trading companies and leading financial institutions. "I am pleased that the alliance continues to add value for our worldwide client base. This expansion to Singapore provides our customers with global coverage on a 24/7 basis, a strategic goal of OceanConnect." noted Reilly.

OceanConnect's service has consistently proven its value to the marine industry in both physical and derivatives markets. Rob Ryneveld, President of Starsupply, strongly supported the expansion of the alliance to Singapore. "We believe the strength of the alliance between Starsupply and OceanConnect serves the industry well and we look forward to continued growth and success in the coming years," said Ryneveld. He continued to say, "We are dedicated to helping companies bridge the physical fundamentals with financial know-how."

For more information on price management, please contact Suzanne Fong (+914 285 7100) for the Americas/Europe and Kok Ming Lim (+65 6535 7302) for the Far East.

New York
Suzanne Fong
Gerry Bushey
Paul Lyne

Singapore
Kok Ming Lim - General Manager
Amanda Koh
Choy Peng Hoong
Daniel Ong
Loy Wah Chia
Luanna Javsa Goh
Sharon Chua

About Starsupply

Starsupply ranked top oil broker for 2004. As a leader in the market it brokers, Starsupply ranked first-place in six Energy Risk Management awards and five other positions in oil categories. With over 20 years experience, Starsupply has offices in New York, Houston, Rotterdam, Bermuda, London, Singapore and Oslo.


In the financial derivatives markets, Starsupply brokers a wide range of oil products including swaps and options on crude oils and petroleum products. In the physical oil markets, Starsupply brokers a full range of products from unfinished oils, like crude oil and refinery intermediates, to finished products like gasoline, jet fuel, heating oil, fuel oil, and petrochemicals. Starsupply has a large market share in international cargo transactions and in US domestic and intra-European barge movements.

About OceanConnect

OceanConnect has rapidly emerged as one of the world's largest and most innovative marine fuel brokers, combining classic broker services and powerful technology to help find the best available deal. OceanConnect succeeds by creating value for the marine industry with personnel in New York, London, Korea, Singapore, Seattle, Dubai, Greece and Copenhagen.

Purchasing Services - Suppliers compete in live, transparent auctions to win a buyer's business. Buyers and suppliers see the real market while finding the best possible deal.

Traditional Broker Support - A worldwide team of fuel experts is available 24/7 to offer traditional broker service including market indications, advice on when and where to buy, and post-fixture support.

Market Information - Daily bunker pricing, is available on www.oceanconnect.com and by email. Daily fuel oil derivatives reports are available online. Gerry Bushey publishes the Market Commentary twice daily and accepts requests for topics of upcoming Market Commentaries or for other oil industry research.

Bunker Intelligence - Customers can receive personalized analyses of fuel spending and market conditions that highlight opportunities for saving money.

OceanConnect is the global online marketplace for the marine industry offering marine fuels, products and services to all buyers and sellers. Investors include Argos Group NL; Booz Allen Hamilton; BP International; Chemoil Corporation; ChevronTexaco Fuel and Marine Marketing; Clarksons; DS Norden AS; Eletson Ventures Inc.; Keystone Shipping Company; Lazard Brothers & Co. Ltd; Marubeni International Petroleum (Singapore) Pte Ltd.; Nippon Mitsubishi Oil Corp (NMOC); P&O Nedlloyd; Shell; Stena Bulk AB. Except for historical information, the matters discussed in this news release contain forward-looking statements. For more information about OceanConnect contact Bob Welsh at +1 (914) 285 7100.


  CONTACT

Annette Bandy,
OceanConnect

Bob Welsh,
OceanConnect

Telephone

+1 914-285-7100

+1 914-285-7100

E-mail

abandy@oceanconnect.com

rwelsh@OceanConnect.com

Web

www.OceanConnect.com

www.OceanConnect.com

Address

OceanConnect.com - Americas
44 South Broadway 6th Floor
White Plains, NY 10601
USA


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