PRESS RELEASE

Russian forwarder signs up to trial of essDOCS CargoDocs to cover exports of crude and refined products

VALETTA, MALTA, 17 December 2010: essDOCS, the leading shipping eDocs provider is pleased to announce that Balt-Forward LLC has agreed to trial its CargoDocs eBill of lading service for Russian Export Blend Crude Oil (REBCO) crude and refined product shipments ex-Primorsk.

essDOCS CargoDocs Services enable forwarders, shippers, carriers, surveyors and agents to replace all paper shipping documents such as the Bill of Lading, Certificates of Quality, Certificates of Quantity, Timesheet, Ullage Report, with original electronic documents.  These eDocs are originated, reviewed, signed, endorsed and produced back to the carrier online through the essDOCS eDocs Exchange.

Primorsk Oil Terminal and Primorsk Petroleum Product Terminal, are together the largest hubs for exports of REBCO and Russian petroleum products.  In 2009, Primorsk reported throughput in excess of 79m tonnes of crude oil and products servicing 935 vessel calls.

Alex Goulandris, Chief Executive of essDOCS said:

“This trial of CargoDocs is our first within the Russian oil export market and we are excited to be working with Balt-Forward at one of the world’s most important oil export ports. We think all parties will learn from this trial and we look forward to full adoption and CargoDocs going live with the wider trading community at Primorsk.”

Andrey Tereshchenko, First Deputy General Director, Primorsk Oil Terminal said:

“We learned about essDOCS and electronic Bills of Lading from our colleagues during an OCIMF meeting. Recognizing the opportunities this new technology could bring us, we had no doubts that our port users would benefit from this innovation.”

North West Customs Point for Energy Cargoes, which services Primorsk, has officially informed Balt-Forward that it has no objections to accept CargoDocs-originated Bills of Lading and Cargo Manifest for customs purposes.

Lolita Savchenko, Operations Director of Balt-Forward said:

“We are very enthusiastic about CargoDocs.  We estimate that using eDocs will eliminate up to six hours per voyage which are currently wasted on printing, signing, stamping and distributing paper originals.”

Balt-Forward and essDOCS have already commenced discussions with several leading REBCO shippers and traders and plan to begin a limited rollout ex-Primorsk in the first half of 2011.

CargoDocs have been live since the start of 2010 at the INEOS Finnart Terminal in the UK. essDOCS is now rolling out the service at crude and gas terminals across the North, Black, Baltic, Norwegian and Mediterranean Seas.  Users include some of the biggest names in tanker shipping and trade - for a full list of the companies already live on the CargoDocs, click here.

essDOCS in Russian mass media:
http://portnews.ru/news/60460/

-ENDS-

About Balt-Forward

Balt-Forward LLC was founded in 2002 as an independent freight forwarding company based in Russian Federation. Since Primorsk Oil Terminal became operational, Balt-Forward LCC has established a strong presence at the port. In the last five years Balt-Forward has serviced more than 100m tonnes of crude and refined oil products and evolved as a shipping agency. Today Balt-Forward LLC acts on behalf of more than 20 crude and refined products shippers, including some of the largest Russian and international oil companies.