1) The document discusses the market for offshore support vessels (OSVs) in Asia, noting unprecedented high utilization rates and tight shipyard supply through 2010. 2) It analyzes the size and age of fleets for various OSV classes (PSVs, AHTS) and the large number of newbuilds on order, questioning if some markets like the PSV market are being overbuilt. 3) Several major owners and new entrants in the Asian OSV market are profiled, along with their fleet sizes and newbuild strategies.

1. Marine Pte. Ltd. Ride on a sea of creative solutions Asian Shipping and Workboat Exhibition Suntec, Singapore OSV Forum Tuesday February 6 th 2007

9. Marine Pte. Ltd. Consolidated OSV Market 285 9 20 56 83 117 285 1101 Total 98 2 10 30 31 25 11 98 213 12,000 BHP+ Large AHTS 108 7 10 17 34 40 22 108 357 7,000 to 12,000 BHP Medium AHTS 79 9 18 52 26 79 531 4,000 to 7,000 BHP Small AHTS 165 1 19 69 76 165 812 Total: 49 1 7 15 26 5 49 115 >4000T DWT Large PSV 104 12 51 41 10 104 395 1,500 to 4,000T DWT Medium PSV 12 3 9 24 12 302 1,000 to 1,500T DWT Small PSV Total 2011 2010 2009 2008 2007 Ave Age To Be Delivered No. In Serv. Size Vessel Type

10. Marine Pte. Ltd. TDW – Extensive Global Fleet, Fleet replacement lags need, newbuild programme does not meet demand. Poised to take on newbuilds from ‘strugglers’ if (when?) market craters CKH – Global Player and Trader, a slight refocus on OSV sector post Seabulk merger with a conservative build programme with ‘healthy’ disposal of older assets. Traditional Owners

11. Marine Pte. Ltd. Gulf – Major NSea PSV player with aged Asian Fleet, poised for sizable growth in Asia as enters into Medium AHTS market with newbuilds SPO – Dominates the ‘Quality’ end over most sectors of the AHTS (below 12240 BHP). Now a minor PSV player. Well thought out newbuild strategy. Maersk – Charges along at over 16,000 BHP AHTS’s with a smattering of PSV’s. The ‘Anchor handler’ of Choice in Asia – availability tight Traditional Owners…..(cont)

12. Marine Pte. Ltd. Traditional Owners ….(cont) Bourbon – all aghast at the size and scale of their newbuild investment. Across the board, a self confessed growth plan by 2010 that will see; Farstad – Transitioned the P&O acquisition well. Huge growth in Australia with specific client focus

13. Marine Pte. Ltd. Traditional Owners ….(cont) Chuan Hup – Corporate high jinx with structure. Building a ruck of high end equipment in Japan. Not afraid to sell or enter new markets (Australia). Smit – has arisen from the ashes with high end newbuilds plus acquisition of Hadi newbuilds. Nomis – Solid, steady growth in Asia with newbuilds now a part of the mix. PRM – Owner / operator now Nav Arch and Builder

14. Marine Pte. Ltd. The new kids on the block….. Ezra – Has to be top of the list. Phenomenal across the board growth, quality, young and diverse fleet. Young aggressive management. NOR – In Partnership with Solstad offering a Niche service of high end new vessels tailored more to the ‘added value’ sector. PACC – Havila – The Norwegians making their mark with strong regional business powerhouse – one to watch.

15. Marine Pte. Ltd. The new kids on the block….. Sanko – In collaboration with Robert Knudsen. Sanko have decided ‘this time around’ they wish to be an operator. Expect to see up to 40 vessels by 2010. Deep Sea Supply – Big Norwegian powerhouse…the first ships are here. And….. Eastern Navigation, Miclyn, Strato, Swiber, Swissco, ASL and Sealink are all becoming players in the OSV sector

16. Marine Pte. Ltd. Finally….. … .We have all seen the Pzzaz surrounding the ‘X’ Bow, Attached in action.

17. Marine Pte. Ltd.