Pace International Corp. was formed about five years ago in New York and was recently succeeded by Pace Trading L.L.C. In 1993, Pace became the general agents for the Port of Poti, primarily performing fiduciary functions but also assisting in the technical operation of the port. The intention was to build services to compete with other transit ports in the former Soviet Union. Working toward this end, Pace began offering discharge supervision and inland forwarding. With a scarcity of reliable service in the area, Pace was quickly able to secure the majority of bulk inland contracts, which were then routed through Poti.

During 1994, Pace provided the expertise to import light oil products through Poti by direct discharge from vessel to rail wagons and provided desperately needed diesel oil for the United Armenian Fund. Since its inception, Pace has handled more than 4,000,000 MT of cargo either destined for or originated from Georgia, Armenia and the Southern Republics of the former Soviet Union and has pioneered the transportation of frozen and other specialty cargo to the region.

Currently, Pace handles nearly all American flag and many foreign flag vessels laden with grain for the Trans-Caucasus region as a contractor or sub-contractor.

In 1995, Pace concluded two contracts to supply in excess of 100,000 MT of fuel oil for the U.S. Department of State and for the Fund for Democracy and Development. Afterward, Pace transported 60,000 MT of kerosene for the Fund for Democracy and Development through Batumi to various destinations in Armenia. References can be provided by USAID, USDA, the U.S. Department of State, the United Nations High Commissioner for Refugees, and several American non-profit organizations that are shipping to the Trans-Caucasus region.

During 1996, Pace developed several commercial connections and contracts have been successfully performed for Soya Hellas S.A. in Greece (Nidera), Papp GmbH & Co. in Germany, and Trans World Metals in London. In addition to its regular business in the area, the USAID awarded Pace $30 million, $15 million and $5 million contracts to supply and transport natural gas to Armenia and Georgia. The company also was recently awarded a $3 million and a $2 million dollar contract to supply heating kerosene to Armenia.

Pace maintains representative offices in Moscow, Tbilisi, Yerevan and Baku and provides competent ground personnel for every port operation and inland movement. Pace utilizes Saybolt for inspection and tally services both at ports and at final destination. Pace is a reputable, financially secure company able to provide reliable service for highly sensitive cargo to any destination within the former Soviet Union. Pace also handles shipments for export from the former Soviet Union and is able to accept cargo at factory facilities or DAF any border within the CIS.