COMPANY PRESENTATION
COMPANY INTRODUCTION ▪ Newport Shipping UK LLP (“Newport” or the “Company”) was established in the UK in 2011 with vessel management, design, construction and repair experience dating back to the 1960s ▪ The Company provides dry-docking, retrofit and financing services with a low carbon focus in 12 yards with 28 docks capable of handling approximately 2,100 repairs annually of all vessel classes and sizes ▪ Dry-docking business has a steady flow given all vessels require ongoing maintenance every 2.5 years and 5 years in addition to adhoc repairs required to sail ▪ Retrofitting business is benefiting and will continue to do so from the IMO ambition for a zero-emissions shipping industry as all existing and ordered vessels need to comply with stricter environmental regulations 2
COMPANY TIMELINE 2019 Additional cooperation 2016 agreements signed with 2011 scrubber manufacturer; Clean Marine and Middle East Global expansion of ship repair Newport Shipping UK shipyards. and conversion businesses LLP established additional offices opened in Deal pipeline grew significantly main shipping hubs as IMO 2020 looms 2013 2018 1971 Established subsidiary Ecoships Global offices in Istanbul, Athens, Newport founding members’ Gemi Isletmeciligi AS which London, New York, Singapore, Shanghai establishment of the initial managed 4 bulkers and 4 small & Oslo. Corporate agreements with 8 shipyard chemical tankers shipyards in China, Singapore & Indonesia signed, as well as cooperation Full technical and commercial agreements with market leading management of shipyard in Turkey engineering company Goltens with more than 600 repair and conversion projects delivered 3
GLOBAL OFFICES LONDON FINANCE RISK MANAGEMENT MARKETING & SALES INVESTOR RELATIONS ATHENS ISTANBUL NEW YORK OSLO SHANGHAI SINGAPORE MARKETING & SALES SHIPYARD MARKETING MARKETING & SALES MARKETING & SALES MARKETING & SALES INVESTOR RELATIONS TECHNICAL ENGINEERING TECHNICAL ENGINEERING TECHNICAL & ENGINEERNG TECHNICAL & ENGINEERING INVESTOR RELATIONS SHIPYARDS SHIPYARDS INVESTOR RELATIONS 4
BUSINESS OVERVIEW EXTENDED REPAYMENT DRYDOCKING RETROFIT TERMS • 12 shipyards with 28 docks capable of • • Turnkey solutions for conversion and 'Pay as you Earn' payment scheme that handling 2,100 repairs annually retrofitting of EGCS/BWTS/LNG/ESS minimizes cash outlay for shipowners • 40+ years experience handling vessel • • Comprehensive works: equipment 'All in One' invoicing to include cost for design, construction and repair procurement, 3D scanning, class and equipment, spare parts, painting, etc. detailed engineering and retrofit works at • Strategically positioned within the lower cost • Up to 60% of total expense deferred over up shipyard or with riding squad regions in the Atlantic and Pacific zones to 5-7 years after vessel redelivery • Guaranteed retrofit slot availability at partner • State-of-the-art yards capable of handling all • Immediate earnings uplift for shipowners shipyards at the Atlantic and the Pacific vessel classes and sizes through subsequent vessel operations • Favourable equipment lead time for owners • No requirement for collateral or mortgage from order to delivery at the shipyard which frees up working capital for owners 5
DRYDOCKING PROCEDURE RECEIPT OF TECHNICAL REPAIR With our qualified team globally, we can work on the specifications with quick SPECIFICATION BY THE SHIPOWNERS response time. Contract will be signed with the shipowners according to their technical AGREEMENT WITH THE CLIENT specifications. A preliminary booking can be made for securing the estimated docking space PRELIMINARY BOOKING CONFIRMATION and date. If the position of the vessel changes we can offer slots through other shipyards within our network with identical contract terms. All technical parts can be ordered and delivered to the shipyard before the TECHNICAL PARTS ORDERS vessel’s arrival. Priority will be given at all our partner shipyards. After arrival, the ship repair VESSEL’S ARRIVAL TO THE SHIPYARD plan will be submitted and vessel will be delivered per contract time. Vessel redelivery will take place upon signing of the Payment Guarantee VESSEL DELIVERY Letter. 6
IMO AMBITION FOR ZERO EMISSIONS FROM THE SHIPPING INDUSTRY The International Maritime Organization (IMO), through its marine pollution protocol (MARPOL), is seeking convergence to zero emissions. This has been adopted by member states to address pollution in the oceans but is increasingly being used as an expanding regulation to encompass emissions reduction measures to the atmosphere. MARPOL Annex VI also requires reductions in NOx (nitrogen oxide) emissions worldwide. Limits vary according to engine size, type and power. Current limits worldwide are based on a tiered system which has been tightening limits since 2011 and follows closely the direction taken by the land transport industry. 2020 Sulphur cap Long-term measures to reduce carbon Up to 20% reduction in intensity of the fleet by at least 70% carbon intensity of the ship ZERO EMISSIONS ASAP WITHIN THIS CENTURY 2020-2030 2030-2050 2050-2100 Mid-term measures to reduce carbon At least 50% reduction of total annual intensity of the fleet by at least 40% GHG emissions (requires approximately 85% CO2 reduction per ship) 7
NEWPORT EXECUTION FOR RETROFIT PROJECT • Turnkey solutions : equipment procurement, 3D scanning, class and detailed EXTENDED PAYMENT TERMS FREES UP WORKING CAPITAL engineering and retrofitting WITHOUT THE NEED FOR • Guaranteed shipyard slot within N ewport’s network of shipyards in the Atlantic and COLLATERAL, the Pacific BANK GUARANTEE, • Competitive lead-time upon receipt of the contractual down-payment LETTER OF CREDIT or PERSONAL GUARANTEE • In-house on-site engineering & commercial team with reputable service partners • All contracts based on English Law POST-DELIVERY WARRANTY REDELIVERY OF VESSEL DELIVERY OF CLASS APPROVAL RETROFIT SYSTEM OF DESIGN SUBMISSION OF DRAWING DESIGN DRAWING CONTRACT TO CLASS SOCIETY EFFECTIVE 8
YARD NETWORK YARD NETWORK • Newport has secured cooperation agreements with individual shipyards to form a global network of strategically positioned shipyard facilities 1. CICEK SHIPYARD, TURKEY 4. CSIC TIANJIN XINGANG, CHINA • 12 yards with 28 docks capable of 2. ASRY (Arab Shipbuilding & Repair Yard), BAHRAIN 5. CSSC GUANGZHOU WENCHONG, CHINA 3. OMAN DRYDOCKS COMPANY, OMAN 6. ZHOUSHAN LONGSHAN SHIPYARD, CHINA handling approximately 2,100 repairs 7. ZHOUSHAN HUAFENG SHIPYARD, CHINA annually for all vessel classes and 8. FUJIAN HUADONG SHIPYARD, CHINA 9. PAXOCEAN ZHOUSHAN, CHINA sizes 10. PAXOCEAN SINGAPORE 11. PAXOCEAN PERTAMA, INDONESIA 12. YEOSU OCEAN SHIP REPAIR DOCKYARD, KOREA 9
YARD FACILITIES Yard Name Dock Size Wharfage Total CICEK SHIPYARD Drydock 215m x 37.5m x 5.75m 410m Floating Dock #1 122m x 22.8m PAXOCEAN SINGAPORE Floating Dock #2 195m x 34.7m 900m Floating Dock #3 187m x 36.5m Floating Dock #1 186m x 36.4m PAXOCEAN PERTAMA Floating Dock #2 235m x 40m 2,400m Floating Dock #3 300m x 59m Drydock #1 400m x 106m x 13.7m PAXOCEAN ZHOUSHAN 576m Drydock #2 380m x 80m x 13.7m Drydock #1 520m x 120m x 13.3m CSIC TIANJIN XINGANG 3,200m Drydock #2 440m x 80m x 13.3m Drydock #1 360m x 65m x 13.3m CSSC WENCHONG 2,000m Drydock #2 431m x 74m x 13.3m Drydock #1 295m x 50m x 14.4m FUJIAN HUADONG Drydock #2 375m x 72m x 14.9m 1,300m Drydock #3 245m x 42m x 13.9m Drydock #1 235m x 40m x 6.5m ZHOUSHAN LONGSHAN 900m Drydock #2 310m x 55m x 8.5m Drydock #1 425m x 68m x 14.5m HUAFENG SHIPYARD 1,520m Drydock #2 275m x 45m x 13.5m Drydock #1 375m x 75m x 8.5m ASRY (Arab Shipbuilding & Repair Yard) Floating Dock #1 252m x 44m 1,380m Floating Dock #2 227m x 40m Drydock #1 410m x 95m x 14.5m OMAN DRYDOCK COMPANY 2,800m Drydock #2 410m x 80m x 14.5m Floating Dock #1 230m x 48m x 9m 350m YEOSU OCEAN SHIP REPAIR DOCKYARD Floating Dock #2 155m x 25m x 7.5m Floating Dock #3 129.4m x 23m x 6m 10
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