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Updates about the stoppage by stevedores at Santos port.

The stoppage of Stevedores at Santos port continue.

As a consequence, some Ships/terminals keep suffering delays on their cargo operations resulting from such stoppage of Stevedores.

In accordance with our previous information, such stoppage arisen due to imposition of Public Attorneys that no longer stevedore can work in double shifts i.e. restricting their journey/duty to a single shift composed of 6 hours and a minimum rest time of 11hours to be fulfilled in accordance with Brazilian Labor Laws.

FYI, there has been a meeting today among parties concerned but unfortunately, no agreement has been reached.

As announced, there will be an assembly tomorrow in a further attempt to sort this matter out and thus, ensure normalization of works/operations at Santos harbor.

Williams (Serviços Marítimos)