Available in March 2007, IAS' automated VCY will accelerate cost saving, reduce emissions and congestion by identifying thousands of “street turn” opportunities daily

Fort Lauderdale, Florida — November 13, 2006 - Further building on its proven web-based asset management solutions for the container transport industry, International Asset Systems (IAS) announced at the IANA Intermodal Expo today that it has initiated development of the next generation of its Virtual Container Yard (VCY) system to be deployed nationwide as of March 2007.

The VCY describes the method by which empty containers are transitioned from import to export & domestic moves without first being returned to a terminal, rail ramp or container yard.

“Since launching an early VCY project in the Midwest several years ago, and then more recently awarded a contract* to provide a VCY system for the Ports of Los Angeles, Long Beach and the Alameda Corridor Transportation Authority, we have been conducting workshops with carriers to determine the best design structure for an enhanced, automated and integrated VCY operation” said Paul Crinks, IAS Chief Executive Officer. “Carriers are looking to streamline and automate cost saving programs. IAS is committed to meeting these customer requirements — and through this latest VCY release — to allow the wider community to access very significant environmental benefits.”

Why VCYs are Emerging

Cost savings for ocean carriers and motor carriers are not the sole drivers moving VCYs onto the
front burner, according to Crinks. Public agencies mandated to improve air quality and reduce public infrastructure spending, as well as environmental and community groups advocating for energy conservation, improvements in public health, safety and general quality of life, are also factors.

What To Expect with the Enhanced VCY

Taking all beneficiaries' needs into account, IAS' newly designed VCY service will provide:

• Integration with ocean carriers' equipment systems that would automatically update the VCY system with information about the availability of empty containers.

• Business rules that filter information seen by each trucker; the rules would ensure that only designated truckers could view an ocean carrier's containers.
• An automated, business rule-driven process for obtaining an ocean carrier's approval to execute equipment transactions.

• Filters that distinguish carrier-owned containers from leased equipment or units targeted for sale; carriers will be able to communicate lease off-hire or sale destination instructions to motor carriers.

• Tie-ins with mobile technology, such as GPS-enabled cell phones, which truckers can use to update the system after pickups and deliveries; the GPS function would automatically show the trucker's location.

• Automation to minimize manual keying and ensure ease of use for the motor carrier community.

• Rules to ensure that container postings are matched in real time with off-dock equipment needs to cover genuine export bookings.

Benefits from the Enhanced VCY Service

“Though actual savings may vary from carrier to carrier, savings are generally projected to be approximately $200 per street turn or ‘re-use' transaction when considering gate transaction costs, grounding, storage, equipment costs” noted Paul Larking, IAS' Director of Logistics.

And according to IAS, there may be as many as thousands of street turn opportunities identified by the system on a daily basis once VCY methods are broadly adopted in a given region.

*Contract was jointly awarded with eModal.com of Irvine, CA who was responsible for trucker outreach.

About IAS

Founded in 1998, International Asset Systems provides the global container shipping industry with innovative asset management applications and Web-based services. By developing solutions that increase equipment visibility and facilitate the seamless flow of information between trading partners in the container transport chain, IAS enables its customers to reduce asset management costs, increase operational efficiencies and provide enhanced service to their customers. IAS has built a management team with extensive experience in the container transportation industry. IAS' operational headquarters are in Oakland, California and has offices in Chicago, Hong Kong, Aarhus, Jaipur, Nice and London.

Jennifer Bronson, Bronson Communications, 415-458-2874 (office) 415-602-1146 (mobile) jennifer@bronsoncommunications.com

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