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Lysaker, 27 October 2005 Ingar Skaug Group chief executive officer.

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Presentation on theme: "Lysaker, 27 October 2005 Ingar Skaug Group chief executive officer."— Presentation transcript:

1 Lysaker, 27 October 2005 Ingar Skaug Group chief executive officer

2 WW ASA Company Structure MARITIME SERVICES Wilhelmsen Maritime Services Car, ro-ro and project cargo Other shipping Express Offshore Transport Sea Launch Logistics LOGISTIC SERVICES Terminals Baltimore (50%) Zeebrugge (50%) Southampton (50%) Pyongtaek (40%) Kotka Euro Terminal Wallenius Wilhelmsen Lines (50%) EUKOR Car Carriers, Korea (40%) ARC (American Roll-on/Roll-off Carrier (50%) Wilhelmsen Lines Wilhelmsen Lines Ship owning EUKOR Car Carriers, Singapore (40%) SHIPPING SERVICES WW Solutions (50%) Compagnie dAffrètement et de Transport (CAT) (20%) Distribution and Auto Service (DAS) (25%) American Auto Logistics (AAL) (50%) American Logistics Network (ALN) (50%) Richard Lawson 50% GLOVIS Korea (25%) Dockwise (21%) Wilhelmsen Offshore & Chartering Mark I Shipping, Singapore (50 %) Wilhelmsen Lines Car Carrier (UK) Fidelio Ltd. Partnership USA (50%) Vehicle processing centre PVP (50%) US Pacific AVP (50%) US Atlantic OVP (50%) Australia Ag – Ready (50%) Ships equipmentShips service network Ship management Ships service products Maritime solutions and financial services

3 WWL Continuingly high ocean revenues, but as usual a seasonal slowdown in Q3 Continuingly strong High & Heavy and non containerized cargo volumes Still high marginal costs, due to historically high bunker prices and a tight charter market

4 EUKOR Continues to deliver revenue and results above expectations Strike in Korea in September lead to decrease in car volumes, negatively influencing the result Even though the strike had a limited duration, it resulted in uplanned idle fleet time HMC and KIA exports have increased 18 % first eight months of the year, compared to same period last year

5 American Roll-on Roll-off carrier (ARC) Have increased the fleet from five to eight vessels during Q3 One vessel transferred from WW ASA and two from Walleniusrederierna ARC has expanded its Middle-East Service The ARC expansion is part of WW ASAs strategy to grow its US based activity

6 Fleet renewal To secure tonnage-capacity, and an optimized fleet – there is an extensive new- building programme in place for EUKOR and WWL 25 ships on order, 14 for EUKOR and 11 for WWL We are pleased with the timing of the contracts, in view of yard price developments New-building prices have peaked, we are are currently observing price development Source: Clarkson

7 Fleet renewal New-building programme, and a less tight tonnage market will enable us to: optimize fleet utlilization, sailing schedules replace older vessels with newer and more efficient ones A somewhat softer market holds opportunities and upside for WW ASA

8 Historically high bunker prices

9 Bunkers Historically high bunker prices, direct bottom line effect and a challenge for dispositions forward WWL is to a large extent covered through bunker adjustment factors in contracts, EUKOR through bunker hedging instruments Clearly an area of continued focus for our operating companies

10 Logistics Companies perform well, apart from CAT WWL DAS (US based) Richard Lawson Continent Wallenius Wilhelmsen Solutions Terminals oCAT: restructuring measures under way Glovis US companies American Auto logistics American Logistics Network Vehicle processing centres

11 Storage Transport Packaging Loading/unloading Glovis IPO GLOVIS Co Ltd 25 % owned by WW ASA Plan IPO at Korean Stock Exchange at the end of the year IPO to enable GLOVIS to keep up with HMC/KIA investment growth Share issue will comprise 20 % of share capital after IPO WW ASA positive to IPO, as it: –will increase liquidity of shareholding –will support further profitable growth Our shareholding will be 20% after the IPO

12 Australia: CNH, Peugeot, Porsche, Iveco, John Deere NZ, BMW, Nissan Trucks USA: DaimlerChrysler, Ford, BMW, CNH, Nissan, Buehler, Van Hool Europe: BMW 2wLogistics, Thailand: BMW, GMT, Honda, Toyota, Isuzu, Porsche, Jaguar, Ford, Nissan, Komatsu Wallenius Wilhelmsen Solutions Integrated Logistics from vision to reality – current logistics contract counterparts

13 Unitor compliments the WMS service offering and increases the customer base substantially 30 MUSD annual cost savings - full effect in 2007 –Joint management –Joint location –Shared back-office functions and systems 28,1 MUSD in one-off restructuring charges (Q3 2005) In addition we are reducing our combined capacity cost by 10% Wilhelmsen Maritime Services is moving towards the vision of becoming the shaper of the maritime services industry

14 Wilhelmsen Maritime Services – key facts and figures Key figures WMS annual turnover approx 550 MUSD Approx port calls Around deliveries to some vessels per year Service and delivery to more than ports and 145 shipyards Approx 300 ships on management Approx full time employees Approx seafarers available through our crewing network

15 WMS geographical scope and presence Present in 72 countries and operations in approx 380 sites WMS prior to Unitor acquisition Unitor Agent Unitor Office Northern Europe & UK (Oslo) Central Europe (Rotterdam) Southern Europe & North Africa (Genoa) Eastern Mediterranean (Piraeus) Middle East & Black Sea (Dubai) South East Asia (Singapore) North East Asia & Oceania (Shanghai) Americas (Houston) The world of WMS is organised in 8 regions

16 WMS product and service offerings comprise... New building services Dry docking servicesPort operation and cargo services Ship management


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