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For Immediate Release: 13 Nov 2000


Market Leader in Fuel Conservation and Underwater Ship Maintenance Adds Another Dimension of Maritime Industry Experience to the Marine E-Commerce Marketplace

WHITE PLAINS, NY, Nov 13th - Inc. announced today that Scamp Underwater Services Worldwide Network, the world leader in fuel conservation for the shipping industry through its underwater hull cleaning/propeller polishing technology, has signed a letter of intent to become an equity partner in, the global marine e-commerce marketplace for the purchase and sale of marine fuels and other marine products and services. President Tom Reilly commented by saying, "We are thrilled to add Scamp as our newest equity partner, as it reflects our ongoing commitment to developing an online marketplace that is truly for the maritime industry, by the maritime industry. Scamp brings to a breadth of experience and valuable insight in servicing some of the largest fleets of the world with its underwater hull cleaning/propeller polishing technology. The addition of Scamp brings us one step closer to our vision of being the all-inclusive e-Marketplace for the exchange of marine products, services and information." Scamp joins nine other shipping companies, marine fuels suppliers, traders and brokers in the ownership of

Scamp Underwater Services Worldwide Network Chairman John J. Bassadone declared, "We are very pleased by's invitation to join their online marine marketplace. We feel this is a natural extension of our business, as Scamp's fuel conservation technology is an intricate part of ship fuel management. We forecast the potential for our company to work closely with and their online exchange platform to provide greater value to our customers as more and more of the industry turns to online business transactions. Our underwater hull cleaning/propeller polishing technology has been proven in improving ships' performance in the conservation of fuel. In this respect, we believe that our services would add another benefit to the ship owners who use's online marine fuels auctions."

Scamp operates a global network of underwater hull cleaning/propeller polishing, in-water surveys and hull maintenance companies, providing these services at over 260 key locations worldwide. Scamp has been a pioneer and world leader in underwater hull services for over 30 years. In 1984 the Gibunco Group, owned by John Bassadone, purchased the Scamp business line from Butterworth, an Exxon subsidiary, which initially developed the Scamp underwater hull cleaning technology as part of a fuel conservation program for the former Exxon fleet.

Since its launch in July 2000, has quickly become one of the industry's leading online marine fuels exchanges. It has opened for business in key ports such as Rotterdam/ARA, Gothenburg, Singapore, New Orleans, and Houston. According to President Tom Reilly, "We plan to aggressively open both the ports of Gibraltar and Fujairah before year end as well as move strategically to other ports in early 2001." is a global Internet e-commerce site that enables users - buyers, sellers, brokers, traders - to buy and sell bunker fuels using online transaction models ranging from simple Request For Quote (RFQ) format to real time, reverse auctions. In addition to its services as an online marine marketplace, offers users real time market news and commentary from its strategic partners, Sempra Trading and Petroleum Argus and from's own maritime industry commentator, Michael J. Marco of McQuilling Brokerage Partners, Inc. is the global Internet marketplace for the marine industry offering marine fuels, products and services. Operating as an open, transparent and independent e-commerce marketplace, it is open to all buyers and sellers. Investors include BP International (a wholly owned division of BP Amoco Plc.); Eletson Corporation; Keystone Shipping Company; Shell Internet Ventures (a wholly owned subsidiary of the Royal Dutch/Shell Group of Companies); Clarksons; Stena Bulk AB; Fuel and Marine Marketing LLC (a joint venture between Texaco and Chevron in the marine fuels and lubricants business); Nippon Mitsubishi Oil Corp; and MIPCO (a subsidiary of Marubeni Corporation of Japan).

Except for historical information, the matters discussed in this news release contain forward-looking statements. For more information about contact Annette Manna at + 1 914 253 7991, or call toll free in the U.S. at +1 877 778 0065.


Kelly Herzog,

Ansi Vallens,
Shandwick International


1 877-778-0065

1 212-591-9769



Address - Americas
2000 Westchester Avenue
White Plains, NY 10650

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