Business Opportunities Maritime sector & Offshore industry Angola

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1 CONFERENCE: Doing Business in Angola and Brazil 24 th October Head Office KPMG Amstelveen Business Opportunities Maritime sector & Offshore industry Angola Marco Rensma Director-owner MEYS Emerging Markets Research

2 f 2013f 2014f 2015f 2016f 2017f % Thousand barrels per day High economic growth rates Strong increase oil production paved the way ,0 GDP per capita, 2011 (USD) Gabon ,0 Angola ,0 Ghana Africa ,0 Nigeria Cameroon ,0 Zambia Senegal ,0 Cote D'Ivoire Oil production (R-axis) Economic growth rate (L-axis) Source: IMF, OPEC Source: African Development Bank

3 Million USD Offshore industry key sector to Angola Oil dominate trade and economy GDP by economic sector, 2011 (%) Agriculture Industry (excl. oil) Oil Construction Trade, transport Other services Source: Alfandegas, IMF Imports Oil exports Non-oil exports Source: BNA

4 Angola large proven crude oil reserves Potential danger of Dutch disease Proven crude oil reserves, 2011 (million barrels) Libya* Nigeria* Algeria* Angola* Sudan Egypt Gabon Note: (*) OPEC-member Source: OPEC

5 Ports essential to foreign trade Strong position Port of Luanda Total throughput main ports (excl. cabotage, tonnes) Luanda Lobito Namibe 95 per cent foreign trade is seaborne trade Cabinda Soyo Source: Ministry of Transport Angola

6 Short sea shipping is limited Less than 15 per cent of total maritime trade Total volume short sea shipping by main ports (tonnes) Lobito Cabinda Namibe Amboim Soyo Lobito connected to railtrack Caminho de- Ferro de Benguela Luanda Source: Ministry of Transport Angola

7 Slow port handling Angola High costs cross border trading Ports and terminal handling, 2012 (days) Angola Cote d'ivoire Nigeria Cameroon Ghana Senegal the Netherlands Imports Exports Source: World Bank

8 Port developments Expanding capacity, meeting international standards New satellite port Barra do Dande Expansion port of Lobito Modernising port of Namibe New deep-water port Caio Port

9 Market opportunities for dredging Port developments and inland waterways Deepening of ports and channels Creating new land for port expansion Total length of rivers Angola: km Navigable length: 400 km

10 Maritime sector Angola almost non-existent Merchant fleet Angola only 10 (Sonaship)vessels Sonaship

11 Revitalising local shipping Re-activate public shipping company Sécil Marítima Dorment for 20 years Reduce local maritime transport costs Alternative to inland road, rail and air transport Focus on long haul (oceangoing) cargo transport Goal Government: 15 per cent market share in 2015 Market share Sécil in oceangoing cargo transport 2010: 0,05 per cent

12 Shipbuilding Angola in infant stage Focus on offshore industry Sonamet Lobito shipyard Petromar shipyards (3) Porto Amboim new shipyard SONANGOL

13 SWOT-analysis Maritime sector & Offshore industry Angola Strengths Large proven oil reserves Growing economy Investments in port infrastructure Strategic geographical location Angola Weaknesses Economic dependance of oil exports ( Dutch disease ) Large non-oil trade deficit No domestic maritime infrastructure High costs cross border trading Unskilled labour (deficit between supplydemand Opportunities Growing seaborne trade Large investments by offshore industry New port developments and hinterland connections Low labour costs Dredging of rivers and ports Short sea shipping Local shipbuilding (OSVs, tugs, cargo, ferries) Threats Continuation economic crisis Europe & US Lower oil prices Political instability & social unrest Corruption & red tape No clear government strategy for maritime sector Lack of sufficient finance for maritime infrastructure

14 THANKYOU FORYOUR ATTENTION Marco Rensma Mob.: +31 (0) Website: