Dubai/Hamburg, September24, 2014: United Arab Shipping Company (UASC) and Hamburg Sd, two of the leading container shipping lines, announced today that they have signed a global cooperation agreement.

The agreement came after a series of discussions focused on the companies respective customers business needs, key growth areas, and operational requirements. The need to address logistical imbalances was also a key driver behind the agreement.

As a customer-focused and emerging global operator, UASC is committed to continuously delivering new and enhanced service patterns.This cooperation with Hamburg Sdenables access to the South America trades and illustrates our ambitious approach to enhance geographic coverage said Jrn Hinge, President and Chief Executive Officer of UASC. In todays challenging marketplace our customers deserve more opportunities, better services and improved efficiencies. Through partnerships with leading operators such asHamburg Sd,and investment in some of the largest and most eco-efficient container vessels ever built, UASC ensures that customer service remains at the very heart of our operations. he remarked.

Referring to the agreement, Dr. Ottmar Gast, Chairman of the Executive Board of Hamburg Sd, said, This cooperation will enableHamburg Sd and UASC to complement each others core services and networks, offering both lines customers a more comprehensive global reach and reliable services without incremental investment in new tonnage. Hamburg Sd and UASC customers will benefit from the companies deployments featuring highly efficient and environmentally friendly vessels, he added.

Initially, Hamburg Sd and UASC have agreed to cooperate on several of their respective core trades. Hamburg Sd will enter the Asia - North Europe and Asia - US trades in December 2014 and January 2015, respectively, while UASC will enter the Europe - South America East Coast and Asia - South America East Coast tradeseffective from mid-2015. Initially, the cooperation will be in the form of slot exchanges; vessel deployment opportunities will be explored in due course. Further geographic scope for cooperation is currently under discussion.Both carriers also intend to explore other areas of cooperation going forward.

Detailed service announcements will be provided by Hamburg Sd and by UASC shortly.