Exhibit 10.46
  FIRST AMENDMENT
TO LETTER OF CREDIT AGREEMENT
 THIS FIRST AMENDMENT TO LETTER OF CREDIT AGREEMENT Amendment Company Performance-Based LC Issuing Bank Financial LC Issuing
Bank Issuing Banks LETTER OF CREDIT AGREEMENT Letter of Credit Agreement
 RECITALS
 WHEREAS,
 WHEREAS,
 NOW, THEREFORE
 SECTION I. AMENDMENT TO LETTER OF CREDIT AGREEMENT
   SECTION II. CONDITIONS TO EFFECTIVENESS
 First Amendment Effective Date
 A. Execution




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B. Fees
 C. Necessary Consents.
 D. Concurrent Amendments.
 E. Other Documents.
 SECTION III. REPRESENTATIONS AND WARRANTIES
  A. Organization; Power and Authority. Amended Agreement
 B. Authorization, Etc.
 C. No Conflict.
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D. Governmental Authorizations, Etc.
 E. Insolvency.
    F. Incorporation of Representations and Warranties from Letter of Credit Agreement.
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G. Absence of Default.
 SECTION IV. ACKNOWLEDGMENT AND CONSENT
   SECTION V. MISCELLANEOUS
 A. Reference to and Effect on the Letter of Credit Agreement and the Other Financing
Agreements.
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B. Headings.
 C. APPLICABLE LAW. THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE
RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING
CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF
A JURISDICTION OTHER THAN SUCH STATE.
 D. Jurisdiction.
 E. Counterparts.
 Remainder of this page intentionally left blank.
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IN WITNESS WHEREOF
 COMPANY:
    UTi WORLDWIDE INC.By:
    /s/ Craig BraunAuthorized Signatory




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SUBSIDIARY GUARANTORS:
    
    UTI (AUST) PTY LIMITED, ABN 48 006 734 747By:
    
    /s/ Craig BraunAuthorized SignatoryUTI AFRICA SERVICES LIMITEDBy
    
    /s/ Craig BraunAuthorized SignatoryUNIGISTIX INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI, CANADA, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI CANADA HOLDINGS, INC.By
    
    /s/ Craig BraunAuthorized SignatorySPAN MANUFACTURING LIMITEDBy
    
    /s/ Craig BraunAuthorized SignatoryUTI DEUTSCHLAND GMBHBy
    
    /s/ Craig BraunAuthorized Signatory




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UTI (HK) LTD.By
    
    /s/ Craig BraunAuthorized SignatoryUTI NEDERLAND B.V.By
    
    /s/ Craig BraunAuthorized SignatorySERVICIOS LOGISTICOS INTEGRADOS SLI, S.A.By
    
    /s/ Craig BraunAuthorized SignatoryUNIóN DE SERVICIOS LOGíSTICOS INTEGRADOS, S.A.By
    
    /s/ Craig BraunAuthorized SignatoryUTI SPAIN S.A.By
    
    /s/ Craig BraunAuthorized SignatoryUTI (TAIWAN) LIMITEDBy
    
    /s/ Craig BraunAuthorized Signatory




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UTI LOGISTICS (TAIWAN) LTD.By
    
    /s/ Craig BraunAuthorized SignatoryUTI WORLDWIDE (UK) LIMITEDBy
    
    /s/ Craig BraunAuthorized SignatoryUTI, (U.S.) HOLDINGS, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI, UNITED STATES, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI, SERVICES, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI BROKERAGE, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI LOGISTICS, INC.By
    
    /s/ Craig BraunAuthorized Signatory




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VANGUARD CARGO SYSTEMS, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI INTEGRATED LOGISTICS, INC.By
    
    /s/ Craig BraunAuthorized SignatoryMARKET INDUSTRIES, LTD.By
    
    /s/ Craig BraunAuthorized SignatoryMARKET TRANSPORT, LTDBy
    
    /s/ Craig BraunAuthorized SignatoryTRIPLE EXPRESS, INC.By
    
    /s/ Craig BraunAuthorized SignatoryINTRANSIT, INC.By
    
    /s/ Craig BraunAuthorized SignatoryMARKET LOGISTICS SERVICES, LTD.By
    
    /s/ Craig BraunAuthorized Signatory




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MARKET LOGISTICS BROKERAGE, LTD.By
    
    /s/ Craig BraunAuthorized SignatorySAMMONS TRANSPORTATION, INC.By
    
    /s/ Craig BraunAuthorized SignatoryLAKE STATES TRUCKING, INC.By
    
    /s/ Craig BraunAuthorized SignatoryCONCENTREK, INC.By
    
    /s/ Craig BraunAuthorized SignatoryUNITED EXPRESS, LTD.By
    
    /s/ Craig BraunAuthorized SignatoryAFRICAN INVESTMENTS B.V.By
    
    /s/ Craig BraunAuthorized Signatory




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UTI ASIA PACIFIC LIMITEDBy
    
    /s/ Craig BraunAuthorized SignatoryGODDARD COMPANY LIMITEDBy
    
    /s/ Craig BraunAuthorized SignatoryUTI INTERNATIONAL INC.By
    
    /s/ Craig BraunAuthorized SignatoryUTI (N.A.) HOLDINGS N.V.By
    
    /s/ Craig BraunAuthorized SignatoryUTI (NETHERLANDS) HOLDINGS B.V.By
    
    /s/ Craig BraunAuthorized SignatoryPYRAMID FREIGHT (PROPRIETARY)
LIMITEDBy
    
    /s/ Craig BraunAuthorized SignatoryUTI LOGISTICS N.V.By
    
    /s/ Craig BraunAuthorized Signatory




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UTI NEW ZEALAND LTD.By

    /s/ Craig BraunAuthorized SignatoryUTI IRELAND LIMITEDSigned, Sealed and Delivered by/s/ Craig BraunCraig Braun,
duly appointed attorney
for and on behalf of
UTi IRELAND LIMITED
in the presence of:Witness:
    
    /s/ Lisa RobertsName:
    
    Lisa RobertsAddress:
    
    100 Oceangate, Ste 1500Long Beach CA, 90802Occupation:

    Executive Assistant, Global FinanceUTI WORLDWIDE (SINGAPORE) PTE LTD.By

    /s/ Craig BraunAuthorized Signatory




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The Royal Bank of Scotland N.V. f/k/a
ABN AMRO BANK N.V., as Performance-Based 
LC Issuing BankBy:
    
    /s/ Michiel van SchaardenburgName:
    
    Michiel van SchaardenburgTitle:
    
    Managing DirectorBy:
    
    /s/ Colin MonaghanName:
    
    Colin MonaghanTitle:
    
    Vice President




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THE ROYAL BANK OF SCOTLAND PLC, as Financial LC Issuing BankBy:
    
    /s/ L. Peter YetmanName:
    
    L. Peter YetmanTitle:
    
    SVP