Veson Nautical Wraps up a Highly Successful 2006

BOSTON, MA ??" (February 5, 2007): Veson Nautical, the US-based maritime software developer that delivers outstanding chartering, operations and accounting solutions for cargo transportation, today disclosed some key growth results for 2006. Although privately held, the company announced that it had more than doubled its revenues from January to December; secured 30 new customers (more than a dozen of which are high profile companies); doubled its staff; and opened a new office in Europe. Veson is preparing for additional expansion in 2007 with plans to launch a range of new products, training initiatives and services designed to increase efficiency for charterers and ship owners.

“2006 has been our most successful year to date,” said John Veson, President of Veson Nautical. “Our flagship system, IMOS, has entered the mainstream. In addition to adding industry leading clients such as Tesoro Corporation, Stolt-Nielsen and Neste Oil, we also welcomed the world’s leading agricultural processor, the world’s second largest producer of aluminum, and one of the world’s largest container companies. Combined with our recently expanded staff and our own move to a new custom-designed corporate headquarters in Boston, we are very pleased with our results for this past year.”

Veson’s customer base currently encompasses approximately 1,500 companies leveraging products ranging from Distance Tables & Voyage Estimating to the company’s flagship Integrated Maritime Operations System (IMOS).
Veson Nautical’s IMOS for Chartering, Operations and Accounting is a modular front-end software suite that can work independently or connect together to form a powerful distributed system. Veson’s solutions enable managers of cargo transportation to streamline their daily voyage operations while increasing interactivity to provide seamless links to accounting systems and to enhance their profitability.

“Veson plans to continue its focus on IMOS,” stated John Veson. “Although many charterers and ship owners continue to utilize tools such as an individual voyage estimators, laytime calculators or even just extensive Excel spreadsheets, the trend is moving towards an integrated solution that eliminates these ‘islands of information.’ We are targeting prospects that realize the value of combining their related databases into an integrated solution that allows them to accurately forecast future trends and analyze the full picture of their historical commercial activities.”

• Product and Customer Care Plans for the Future

Veson Nautical is in the final development stages of its latest version of IMOS, which is scheduled for release in March. Veson is already investing in several new product offerings which will be announced in Q3 and Q4 of this year. The company also is implementing a new installation and training plan for its customers. The new products, revamped offerings and enhanced training systems will make it easier for customers to purchase and install IMOS.

• About Veson Nautical

Founded in 1979, Veson Nautical is a US-based maritime software developer whose user friendly, visual approach is based on best practices developed over its 27-year history.
The company was an early pioneer in developing industry software solutions, and was the first to automate port-to-port Distance Tables for use in early Voyage Estimating applications. Today, the company’s flagship Integrated Maritime Operations System (IMOS) optimizes profits by streamlining workflow and consolidating information across chartering, operations and accounting departments. From London to Houston and Singapore, marine transportation customers in the shipping, energy and defense sectors use Veson’s flexible, easy-to-use and graphically outstanding solutions. The company may be reached via the web at http://www.veson.com or in their Boston, MA headquarters at (617)723-2727.