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News Release

June 17, 2011

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Change at the top at Rickmers-Linie in North America

News Release Rickmers-Linie GmbH & CIE. KG (Head Office) June 17, 2011
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<DIV><SPAN style="FONT-FAMILY: FagoOT; COLOR: black">After eight years at the
helm of Rickmers in the United States, Jerry Nagel has been appointed Chairman
of the Board of Rickmers-Linie (America) Inc. In this position he&nbsp;will
continue to participate and contribute with his experience to the activities of
Rickmers Group in North America. Mr Nagel joined Rickmers in 2004 from Foster
Wheeler Corp </SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">USA</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">, where he had been the company's
traffic manager. </SPAN>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black"></SPAN>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">Jan B Steffens, President &amp; CEO of
Rickmers-Linie GmbH &amp; Cie. KG in </SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">Hamburg</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">, thanked Mr Nagel for his commitment
to the company: "As President &amp; CEO of Rickmers-Linie (</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">America</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">) Inc, Jerry has truly established and
developed a powerful organization&nbsp;in </SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">America</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black"> and has contributed significantly to
the image of our company in the </SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">United States</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">."<BR><BR>Mr Nagel's former position
as President &amp; CEO of Rickmers-Linie (</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">America</SPAN><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">) Inc has been assumed by Sean Carney,
effective </SPAN><SPAN style="FONT-FAMILY: FagoOT; COLOR: black">June 1,
2011</SPAN><SPAN style="FONT-FAMILY: FagoOT; COLOR: black">. Mr Carney joined
the Rickmers-Linie team in Houston&nbsp;in December 2010 as Vice President and
Chief Operating Officer (COO).&nbsp;&nbsp;&nbsp; </SPAN></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black"></SPAN>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black">Like Mr Nagel, Mr Carney joined
Rickmers from a leading shipper, in this case GE Energy, where he had been
directing all project logistics and trade service operations for its Power &amp;
Water business. Prior roles at GE included working in the project management
department in Energy and with financial services at GE Capital. </SPAN></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: FagoOT; COLOR: black"></SPAN>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: FagoOT">Sean Carney is a graduate in Business Finance from
Utica College of Syracuse University and has also been an officer with the
United States Army for&nbsp;five years, spending significant time in logistics
and operational roles.</SPAN></P>
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style="FONT-FAMILY: FagoOT"></SPAN>&nbsp;</P></DIV></BODY></HTML>