SUPRAMAX RSA C TRANSPORT MARITIME S.A.M. Headquartered in Monaco - - PowerPoint PPT Presentation

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SUPRAMAX RSA C TRANSPORT MARITIME S.A.M. Headquartered in Monaco - - PowerPoint PPT Presentation

SUPRAMAX RSA C TRANSPORT MARITIME S.A.M. Headquartered in Monaco and founded in 2004 One of the largest shipmanagement companies globally Employs over 85 people from 13 different nationalities Lloyds List Dry Bulk Operator of


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SUPRAMAX RSA

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๏ Headquartered in Monaco and founded in 2004 ๏ One of the largest shipmanagement companies globally ๏ Employs over 85 people from 13 different nationalities ๏ Lloyd’s List ‘Dry Bulk Operator of the Year’ 2017

C TRANSPORT MARITIME S.A.M.

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๏ The Company directly operates over 115 vessels, ranging from

Supramax to Newcastlemax bulk carriers, and over 180 vessels when including Capesize Chartering Ltd. (“CCL”).

๏ Manager of Supramax up to Capesize Revenue Sharing Agreements

(RSAs)

๏Co-manager of CCL (>85 vessels) ๏Technical manager for 40 bulk carriers

C TRANSPORT MARITIME S.A.M.

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๏Commercial (Chartering, S & P, FFA) ๏Operations ๏Technical ๏Risk Management & Research ๏Insurance ๏Logistics

PRINCIPAL ACTIVITIES

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“What we are trying to do here is eliminate fragmentation among the supramax-owning community so we can provide a more efficient service as well as minimise all of our costs” John Michael Radziwill CEO

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OUR POOLS

๏Over 15 years of managing dry cargo pools ๏Today there are about 180 vessels in our

pools*, all of which are operated on the spot market

๏Pool stay ranges from a few months to a few

years depending on each member’s portfolio composition, employment strategy and

  • utlook on the market

๏Accounts are managed by CTM and

externally audited annually (Deloitte)

*including vessels in CCL but not double counting CTM managed ships

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SUPRAMAX RSA

๏The Supramax Revenue Sharing

Agreement was created in 2013 with 5 members and 6 vessels

๏Presently, the RSA counts 17 members

and 65 vessels

๏Our members include: traditional

shipowners, publicly listed companies, commodity traders & financial investment platforms

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5 7 9 14 17 15 18 2013 2014 2015 2016 2017 2018 2019

Number of members in the RSA

6 16 20 31 56 59 65 2013 2014 2015 2016 2017 2018 2019

Number of vessels in the RSA

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J.P. Morgan GMIF

RSA MEMBERS

Bocimar Bulk Trading Carras Ltd Castleton Commodities

CBC DryLog Golden Ocean GoodBulk Ionic Nautical Bulk Holding

S’Hail Shamrock Sonoma

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Chandris

Eastern Pacific Shipping D’Amico Dry

M-Maritime

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HOW THE RSA WORKS

Income generated from the pool vessels are distributed to the members according to the revenue earning capabilities of their vessels

๏ Vessels are assessed on tradability and performances (dwt,

cubic capacity, service and eco speed & consumption, draft, etc) and a Revenue Sharing Key is established

๏ Vessel performances are monitored ๏ Working capital of $400,000 (in bunkers and cash) is required to

cover the day-to-day expenses of the vessel (bunkering, port agent fees etc) and is returned to the member when the vessel exits

Steady income Low fees Global reach Flexibility

Outstanding performance

Risk management

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Delivering great results is at the top of our agenda and our performance is testament to this. Over the past 12 months, the Supramax RSA has outperformed the market by 7%.

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LOW FEES

No daily administration fees - only a 1.25% commission on revenues No hidden fees or other costs No withdrawal fees or penalties Transparent cost structure

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FLEXIBILITY

✓ Entry and exit into the RSA is very easy; only two weeks notice for a vessel to enter and maximum three months notice to exit ✓ No minimum duration ✓ Tailored to owners’ concerns and needs. Charter-party negotiations work off the

  • wner’s charter-party, otherwise the pool’s

charter-party can be used.

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STEADY INCOME

The RSA gives out a fixed income Income is based on a pre-agreed FFA budget set at the beginning of the year. Income is adjusted quarterly to match actual results

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GLOBAL REACH

Our multi-basin strategy ensures our vessels are spread out globally

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RISK MANAGEMENT

✓ Dedicated, highly sophisticated in- house risk management department with an excellent track record ✓ Counterparty assessment prior to fixing a vessel determines whether fixture goes ahead or not ✓ Tailored maritime lien insurance

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The RSA has weekly, monthly and quarterly reporting as well as physical meetings that take place twice a year.

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RSA STRENGTHS IN NUMBERS

425 fixtures concluded 22mn tonnes carried

*All figures are based on calendar year 2018

169 counterparties 2 Years average vessel

duration despite very flexible entry and exit requirements

15% of vessels have been in

for 5 years or more Biggest Supramax pool in the market

35 fixtures concluded per

month in 2018 - 91% on time charter

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RSA STRENGTHS IN NUMBERS

NUMBER OF FIXTURES VOLUMES CARRIED ON RSA VESSELS (MILLION TONNES)

TYPE OF CARGO LOADED ON RSA VESSELS IN 2018

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*’Other’ includes cement, sugar, mineral concentrates, scrap, sand, alumina etc ‘Agricultural products’ include grains and oilseeds.

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THE SUPRAMAX RSA FLEET

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Vessel Name Built Size (dwt) Vessel Name Built Size (dwt) Vessel Name Built Size (dwt)

MSXT Artemis 2019 63,800 Bulk Guatemala 2013 61,446 ST George 2011 57,959 Nautical Georgia 2017 63,800 Bulk Atacama 2014 61,384 Sage Symphony 2012 57,949 Nautical Madison 2018 63,800 CMB Chikako 2014 61,299 Bulk Uruguay 2011 57,937 Nautical Runa 2015 63,577 Loch Ness 2016 61,272 Bulk Ecuador 2011 57,937 Nautical Lucia 2016 63,567 Red Cosmos 2015 61,263 Bulk Colombia 2011 57,937 Nautical Loredana 2015 63,556 Red Azalea 2015 61,229 Bulk Peru 2011 57,937 Nautical Elisabeth 2015 63,536 FJ Star 2016 61,225 Serene Jessica 2010 57,275 Nautical Hilary 2015 63,530 Aquaprosper 2015 61,208 Nautical Amethyst 2011 56,889 Nautical Sif 2015 63,530 Divinegate 2019 61,143 SFL Yukon 2010 56,869 Nautical Marie 2015 63,523 Victoria T 2017 61,000 SFL Sara 2010 56,869 CMB Rubens 2018 63,514 Ionic Unicorn 2016 60,425 CS Sonoma 2010 56,697 Sage Sanaga 2013 63,500 Golden Cathrine 2015 60,263 Sea Star 2014 56,591 Nautical Alice 2016 63,500 Golden Cecilie 2015 60,263 Ionic Spirit 2010 56,119 Nautical Anne 2016 63,500 Red Sakura 2017 60,245 Loch Crinan 2013 56,108 Great Fortune 2015 63,497 Areti.GR 2017 60,243 Bulk Phoenix 2013 56,088 Daimongate 2017 63,496 ST Pinot 2013 59,949 Ionic Storm 2005 56,032 Nautical Jennifer 2015 63,495 Josco Changzhou 2011 58,764 Medi Paestum 2009 55,614 Great Rainbow 2015 63,464 Bulk Costa Rica 2012 58,758 Aquakula 2007 55,300 Bulk Paraguay 2016 63,461 Bulk Patagonia 2012 58,723 Bridgegate 2010 53,477 Bulk Bolivia 2016 63,374 Britain Bay 2012 58,709 Medi Bangkok 2006 53,466 Sage Amazon 2012 63,301 Golden Hawk 2015 58,068 S'Hail Al Doha 2002 52,455 Red Orchid 2015 61,645 ST Paul 2010 57,982 Devongate 2014 61,517 Bulk Honduras 2012 57,959

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7 Rue du Gabian, Gildo Pastor Center 98000 Monaco +377 97 98 59 00 www.ctmmc.com