At Your Service Managing Risk For 30 Years

Transcription

1 At Your Service Managing Risk For 30 Years

2 The Heidmar Ethos Performance Integrity Transparency Dedicated to Protecting Pool Members Assets and Interests

3 Heidmar: Protecting Pool Members Assets and Interests a history of managing risk Heidmar: 30 Years of Tanker Trading 79 Pool Members 537 Ships 386 Charterers 18,623 Voyages 469,519 Trading Days 1 Counter Party Default (partial demurrage/bankrupt charterer)

4 Heidmar: Protecting Pool Members Assets and Interests a 30-year history of On-time charter hire payments to pool members First class vendor payment history and reputation Working with pool members to improve consumption and vetting performance Off-hires for repairs and drydocking only Working with pool members to minimize pre/postdrydock positioning costs Comprehensive bunker quality program/system Comprehensive piracy area management system with dedicated staff

5 The Heidmar Advantage Protecting Pool Members Assets and Interests Managing Counter Party Risk: All charterers approved and regularly reviewed by Heidmar executive All brokers approved and regularly reviewed by Heidmar executive Commercial Group s eyes and ears on the market 24/7/365 checking for/reporting back on potential risk issues with charterers Strict adherence to approved charterers only policy through IT voyage systems controls and regular policy announcements from Heidmar executive

6 The Heidmar Advantage Protecting Pool Members Assets and Interests Managing Operational Risk: All elements and participants in voyages reviewed, vetted and approved: Ports, berths, terminals, port agents, tug and towing companies, bunker suppliers and bunker quality Ship Vetting Support: Pre-vetting inspections to prepare ships for upcoming sire inspections. In-house team with strong relationships with major oil company vetting managers and independent vetting companies assist pool members in keeping ships approved Earnings Maximized Weather, sea and port conditions constantly monitored/reported/acted upon

7 The Heidmar Advantage Protecting Pool Members Assets and Interests Cost Control/Economies of Scale: Bunker Purchasing: In 2013, Heidmar purchased 911,529 mt of bunkers in 1,493 transactions globally. Advantageous pricing negotiated through volume, particularly in high traffic ports Port Costs, Agents Fees, Tug Costs, Canal Fees: In 2013, Heidmar pool ships made 3,814 port calls and 114 canal transits. Advantageous pricing negotiated through volume and contracts

8 The Heidmar Advantage Absolute Focus on Providing Service Excellence to Pool Members 100% Dedicated to Protecting Pool Members Assets and Interests by Managing Risk Nothing else matters It s who we are and why we exist

9 The Heidmar Pooling Advantage Exclusive: Only Quality Tonnage and Owners/Operators need apply Inclusive: Pool members deeply engaged and direct pool structure Democratic: No single pool member dominates a pool majority vote decides pool structure, rules and performance measurement Accessible: 24/7/365 access to pool performance via Industry-leading and Heidmarexclusive Efleetwatch.com Empathetic: Recognizes and responds to pool members critical need for cash flow via on-time charter hire Driven: Heidmar Projects in the air and on the road around the world throughout the year talking to existing and prospective partners

10 The Heidmar Commercial Advantage Heidmar Has The Experience Heidmar Chartering and Operations have long and deep experience trading tankers in bulk liquids globally and in all market conditions Heidmar Has The Tools Heidmar has developed in-house IT solutions which fast track the dissemination of global market intelligence within its commercial team, optimize the team s trading decisions and make the results immediately available to pool members

11 The Heidmar Difference Your Ship, Your Choice and you have choices but how to compare? It s all about Earnings (US$/Day) At Heidmar, Earnings means Distributions Distributions = Monthly hire payments derived from Voyage Revenues less ALL Voyage Expenses and ALL Fees and Commissions No hidden fees or fee leakage No hidden idle days or excluded special voyages The Heidmar Way has been called Triple Net (Total Transparency) The Heidmar Triple Net Way is not what you will commonly see Time-Charter Equivalent (TCE(US$/Day) a Non-GAAP measure) is the industry standard

12 The Heidmar Triple Net Difference Heidmar Monthly Distributions are net of ALL voyage costs with no hidden fees, no hidden trading days and no hidden voyages; True Voyage Costs Heidmar Competitors Commissions and Fees? Armed/Unarmed Guards? Loss of Hire Insurance? Kidnap and Ransom Insurance? War Risk Insurance? COFR/OPA? Tank Cleaning? Hull Inspections? Hull Cleaning? Propeller Polishing? Weather Routing Service? Slops Disposal? Pilotage? Bunker Surveys?

13 TCE But which one? Net TCE: TCE earnings after deducting agency or pool commission and management or admin fee. Rarely used. Gross TCE: TCE earnings before deducting agency or pool commission and management or admin fee. Most commonly used. Super Gross TCE: TCE earnings before deducting agency or pool commission and management or admin fee AND before certain rebillables to pool members (e.g. piracy costs). Used by some private entities. Mega Gross TCE: TCE earnings of highest earning ship before deducting agency or pool commission and management or admin fee AND before certain rebillables to pool members. Hard sell method.

14 One final thing It has been said that Heidmar is all about fees and commissions with no interest in pushing the spot market We beg to differ Heidmar is all about the pool members And when it comes to pushing market? Well, let s give you an example

15 Seawolf Pushing The Market Seawolf is responsible for this high market and should be thanked by all tanker owners. Seawolf did a very high rate for a Petrobras cargo and this was the catalyst for all the VLCC owners to push the market up. Mr. Sanjay Gupta Head of Chartering Reliance Industries Limited January 9, 2014

16 Seawolf Pushing The Market Caribs/East VLCC Fixtures October 2013 Freight (US$ Lumpsum) $5,800,000 $5,700,000 $5,600,000 $5,500,000 $5,400,000 $5,300,000 $5,200,000 $5,100,000 $5,000,000 $4,900,000 $4,800,000 $4,700,000 $4,600,000 $4,500,000 $4,400,000 $4,300,000 $4,200,000 $4,100,000 $4,000,000 $4,700,000 $4,700,000 $4,650,000 Aries Star Eagle Vancouver Abqaiq $4,925,000 Maersk Sonia $5,670,000 SOLANA ON SUBS $5,025,000 $5,070,500 $4,950,000 Athenian Victory Maria A. Angelicou Izki $5,670,000 SOLANA FULLY FIXED $5,150,000 $5,150,000 $5,150,000 BW Lion Leo Star TI Topaz 11 Oct 15 Oct 18 Oct 18 Oct 18 Oct 21 Oct 21 Oct 23 Oct 24 Oct 25 Oct 25 Oct 29 Oct

17 Supra Bulk Pool Chem 1 Pool Large Newbuilding Book Chem 3 Pool Bunker Brokerage Handy Bulk Pool Chem 2 Pool Technical Management Chem 4 Pool BunkerTankers Pan Bulk Pool Chem 5 Pool Pool Members Heidmar Pure Tanker Pools Commercial Management Risk Management Bunker Purchasing Port/Agency Costs

18 History Expertise Integrity Delivering Maximized Minimized Asset Returns Risk