KUWAIT, 16 March 2007 — United Arab Shipping Company (UASC), the international container transportation provider, has announced the incorporation of a joint-venture company together with its present Indian agents, Transworld Shipping Services. United Arab Shipping Agency Company (India) Private Limited (UASAC India) was incorporated on March 5, 2007 and will assume agency duties for India from April 2, 2007. Ken Bloch Sorensen, UASC’s president and CEO, welcomed the development. “We’ve been working with our friends at Transworld toward this end for some time,” he commented. “We at UASC are delighted to have achieved our goal of providing a stable platform on which to build our future growth in India.”