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Terminal Operator Vopak Terminal Bahamas has announced the appointment of a new Managing Director following the resignation of Thijs Jan Huizer.

Raymond L. Jones, formerly Chief Operating Officer of Freeport Container Port, Freeport Harbour and the Grand Bahama Airport Company has been chosen to replace Huizer.

Jones will join the company on September 1, 2009 and after a handover period, will formally take over the responsibilities as Managing Director on October 1, 2009.

Jones, a native of Grand Bahamian has been with the Hutchison Whampoa Companies in Freeport for the past 13 years.

He has held a number of key positions and returned to The Bahamas in late 2006 after holding the position of Projects Manager of Finance and Business Development for Hutchison Ports Management in Hong Kong and assigned to Mexico.

The Board also announced that Dick Richelle, who served as Managing Director of Vopak Oil Rotterdam, as of May 1, 2009, has been appointed Division President of Vopak North America, replacing Pieter Bakker.

He will be part of the Board and will play an active role in the management of BOR-CO/Vopak Terminal Bahamas. Richelle will report to John Paul Broeders, Chairman of the Executive Board of Royal Vopak.

"We are extremely pleased with the additions to the management team and Board of Directors of BORCO," Tom Sikorski of First Reserve stated.

"Raymond brings a unique set of experience and skills to the Company and we look forward to his contribution. Pieter and Dick are experienced terminal managers and operators and should add depth and breadth to our Board. All three additions should continue to position BORCO to expand and grow." Bakker started his career at Vopak as Managing Director of Van Ommeren Tank Terminal Mercosur in Brazil. During his career he successfully developed the regional terminal network as Division President Latin America. Richelle worked in various management positions in Vopak where he started his career 14 years ago. He worked extensively with Bakker in Latin America and views his new assignment as a grand adventure in these interesting and exciting times.

"We are excited about the opportunities that we see at Vopak Terminal Bahamas and are committed to the development of this facility into a world class terminal," said Richelle.

Vopak Terminal Bahamas is a Joint Venture of First Reserve Corporation and Royal Vopak NV. BORCO/Vopak Terminal Bahamas is an independent storage facility with a capacity of three-million cubic metres, or 20 million barrels, with the possibility of expansion up to five million cubic metres for the storage and handling of crude oil, fuel oil and clean petroleum products from its terminal located just 80 miles of the coast of Florida, and is the largest storage terminal in the Caribbean. Its deepwater jetties can berth the largest-sized vessels. In addition, Vopak Terminal Bahamas offers blending, transshipment and bunkering services.