The Worldwide Project Consortium has welcomed Sphinx Egypt Ltd. Co to its specialist global logistics network.

WWPC General Manager, Kevin Stephens, based in Queensland, Australia, said today (December 11, 2006) Sphinx Egypt, with offices in Cairo and Alexandria, had more than 20 year’s experience delivering outstanding service along the important transport artery between Egypt and Europe.

Samsung Heavy Industries (SHI) concluded a contract with Hanjin Shipping to build five 10,000 TEU container ships on August 24. The order allowed the shipbuilder to receive an accumulated amount of US$10 billion worth of orders so far this year. In addition, SHI is the first shipbuilder in the industry to reach US$10 billion in the orders received this year. It also marks the highest amount since the Korean shipbuilder was established.

New technology being tested for suitability in global freight transport
Test phase starts with partners in Hong Kong and Hamburg
Port of Hamburg Schenker put into service ten containers equipped with RFID (Radio Frequency Identification) technology. The official commissioning of the new equipment took place in the presence of customers and industrial partners from the Port. This is the first step in a practical test to examine the suitability of new security technology for global freight transport. The new containers will be used in a shuttle service between Hamburg and Hong Kong.

-12-Year Charters Arranged with CSCL Asia
- Company Also has Uncommitted Option for Four Additional 2500 TEU Vessels
Seaspan Corporation announced that it exercised its option to build four 2500 TEU vessels at Jiangsu Yangzijiang Shipbuilding ("YZJ") in China. This option was part of the February transaction with YZJ that included the firm order of four 2500 vessels and options to build eight more at the same price. These new orders will increase the company's total fleet to 33 vessels when the vessels are delivered between May and August 2009. The total delivered cost is expected to be approximately $44.7 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels.

Samsung Heavy Industries held a christening ceremony on June 22 for a 9,600 TEU container ship and handed it over to Chinas CGS, the ship owner. This container ship is the largest ever to be built in the world. SHI had already built the worlds largest container ship in July 2005, and it's been only a year for the shipbuilder to renew this record. SHI was thus able to prove its worlds top technological capability in the construction of large container ship.