3rd October 2012

Reefer base rates to increase USD 1,500 per FFE

effective 1st January 2013

Dear Safmarine Customer,

With effect from 1

equivalent unit (FFE) across the globe. This substantial increase is directly connected to our efforts to

continue covering your service requirements, and as such this increase will apply to all our valued Reefer

customers.

Transporting refrigerated cargo is an important business for Safmarine and we would like to assist with

the successful transportation of your cargo and help you ship your produce quickly and efficiently.

Today, refrigerated containers are almost four times as costly to build as dry containers and associated

expenses such as plugs, bunker cost and R& D put pressure on costs. We would like to continue investing

in reefer equipment, but the current rates do not make it financially sustainable for us to do so. Given this

scenario, we have already decided to no longer invest in reefers in 2013. This increase is vital to ensure

that Safmarine can continue investing in reefers in 2014 and beyond.

We understand the significance of this increase and the impact to you as a valued customer, but this will

enable us to further invest in the growing demands of the segment so that you can experience the benefits

of a reliable reefer service.

We thank you for your business and look forward to serving your future transportation needs.

Should you have further queries, please feel free to contact your local Safmarine Sales & Customer

Service team.

Thank you.

Yours faithfully,st January 2013, Safmarine will increase all reefer base rates by USD 1,500 per forty

for Safmarine Container Lines

____________________________________________________________

3rd October 2012

Reefer base rates to increase USD 1,500 per FFE

effective 1st January 2013

Dear Safmarine Customer,

With effect from 1

equivalent unit (FFE) across the globe. This substantial increase is directly connected to our efforts to

continue covering your service requirements, and as such this increase will apply to all our valued Reefer

customers.

Transporting refrigerated cargo is an important business for Safmarine and we would like to assist with

the successful transportation of your cargo and help you ship your produce quickly and efficiently.

Today, refrigerated containers are almost four times as costly to build as dry containers and associated

expenses such as plugs, bunker cost and R& D put pressure on costs. We would like to continue investing

in reefer equipment, but the current rates do not make it financially sustainable for us to do so. Given this

scenario, we have already decided to no longer invest in reefers in 2013. This increase is vital to ensure

that Safmarine can continue investing in reefers in 2014 and beyond.

We understand the significance of this increase and the impact to you as a valued customer, but this will

enable us to further invest in the growing demands of the segment so that you can experience the benefits

of a reliable reefer service.

We thank you for your business and look forward to serving your future transportation needs.

Should you have further queries, please feel free to contact your local Safmarine Sales & Customer

Service team.

Thank you.

Yours faithfully,st January 2013, Safmarine will increase all reefer base rates by USD 1,500 per forty

for Safmarine Container Lines

____________________________________________________________