OSLO, Norway, June 13, 2001 (PRIMEZONE) -- Against the swing in Maritime e-Commerce, MarineProvider AS is the first start-up maritime e-procurement Company to publish an Annual Report, to be released this week. The extensive Annual Report, which reveals all finances in detail, highlights MarineProvider's philosophy of total transparency.
"Unlike other marketplaces in our industry, MarineProvider is totally transparent when it comes to its accounts and backing," said Collin Lewis, CEO of MarineProvider. "Our customers, both buyers and suppliers, are at any time given insight into our accounts and will therefore not be taken by surprise on any subject."
The accounts show a credible first year revenue of $4.2 million for the year ended Dec. 31, 2000. Revenues have continued upwards, showing impressive growth into 2001 with the launch of the MarineProvider Exchange.
MarineProvider, which has been traded on the OTC list in Oslo since the second quarter of 2000, has seen its share price doubled in value over the last three months of this year, reflecting unusual and extraordinary market confidence in a company in this sector.
"The year 2000 was an exciting and productive year in many aspects," Lewis said in conjunction with the release of the company's Annual Report. "MarineProvider has secured backing from high-profile industry members and successfully raised significant capital and commitment. We have partnered with Oracle as our main technology provider and Oracle also counts as one of many on an impressive list of shareholders. Partnership agreements were established with, among others, OceanConnect for bunker trading, as well as SpecTec and ShipNet for seamless integration into back-office and PMS systems.
"In addition, MarineProvider has introduced a stable name and branding in the maritime industry over the past year, reflecting the depth of this start-up with substance," Lewis said.
MarineProvider is strongly positioned to become the maritime industry's leading Web-based exchange for the procurement of bunkers, spare parts, equipment, provisions and other related services.
MarineProvider, headquartered in Oslo, is a highly secure and neutral Internet-based e-procurement marketplace for the maritime industry. MarineProvider has offices in the United States, the Netherlands, and Hong Kong, and has partnership agreements with third-party supply-chain, credit and insurance companies, as well as other complementary marketplaces worldwide.
For other news please visit our Website: www.marineprovider.com.