Carrix purchases 50% of Western Stevedoring Company Limited ("Western") from Seaboard Shipping Co. Ltd.

SEATTLE - Carrix announced today that it has purchased 50% of Western Stevedoring Company Limited ("Western") from Seaboard Shipping Co. Ltd. Western is the premier conventional cargo stevedore and terminal operator on Vancouver Island and in the metropolitan Vancouver area. Its management team is led by Tim Chapman, Brad Eshleman and Keith Moger.

General Steamship International, Ltd. ["Gen Steam"], has been the other shareholder in Western for over 50 years and will continue its interest in the Company. Carrix and its affiliates have been working and partnering with Gen Steam and its principals for many years in many places.

Western has benefited from its long term relationship with Seaboard Shipping. The experience of handling the millions of tons of their forest products over the years has made Western one of the leading forest products' stevedores in the world. Western will continue to serve Seaboard's cargo in Vancouver.

Western's subsidiaries include Westcan Terminals Ltd., Westcan Stevedoring Ltd., Tidal Harmony Holdings Ltd. and Associated Stevedoring Co. Ltd. Western's affiliates also include Coast 2000 Terminals Ltd and Empire Grain Stevedoring Ltd.

Jon Hemingway, Carrix president and CEO was "pleased to welcome Western as the newest affiliate of Carrix and the broadening of our relationship with General Steamship. We are proud to be associated with both." He believes that "Carrix will complement Western's ability to continue to service its core breakbulk business and enhance its ability to respond to the challenges and opportunities of the future." Hemingway also noted that, "Claude Stritmatter will join me on the board of Western and serve as our primary liaison with its management team."

Carrix (www.carrix.com) is the parent company of SSA Marine, Tideworks Technology and RMS (Rail Management Services) and, as such, the world's largest privately held marine and rail terminal operator.

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