This document provides an executive summary of Bourbon's 2015 leadership strategy presented at a strategic conference in Shanghai. The key points are:
- Bourbon will invest $2 billion to grow its fleet, focusing on the deepwater market and renewing its shallow water fleet. This will involve acquiring 30 deepwater and 50 shallow water vessels.
- The strategy aims to increase customer satisfaction through innovative, cost-efficient vessels and recruiting/training 5,000 new employees.
- Bourbon forecasts continued strong growth in the offshore marine services market driven by increasing oil and gas production requirements from emerging economies.
The document summarizes the IMO 2020 regulation which will require ships to use marine fuels with no more than 0.5% sulfur content starting in 2020. This is a significant decrease from the current 3.5% global limit and will require ships to switch to lower sulfur fuels like marine gas oil or install exhaust gas cleaning systems. The transition presents many challenges for shipowners, including worldwide fuel availability and costs, and technical difficulties in cleaning fuel systems and retrofitting exhaust gas cleaning technology. The regulation will greatly impact the shipping industry and is expected to increase industry costs by $60-240 billion as ships upgrade equipment and switch to higher-priced compliant fuels.
IMO 2020: Are you Ready?_TRANSPOREON Group_20190516Vivien Cheong
The Path Forward: Managing the Fuel Component of trans-Pacific 2019-2020 Contracting Cycle
Request a detailed explanation of how your carrier’s trade factors are calculated
Be able to validate the assumptions including ship size, speed and industrial utilization against industry benchmarks
Understand the timing for your carrier’s implementation of the new fuel formula. Will it go into effect in January 2020 or sooner?
Understand the impact for each carriers’ all-in-rate (ocean plus bunker) based on future changes in the fuel prices, both up and down.
Ensure contracts address failure to come to agreement on how future fuel surcharges will be dealt with as well as protection in place for space commitments and price from time of implementation until the end of contract.
Be prepared to offer your own fuel formula to carriers where there is a lack of clarify
Ensure your own formula is fair for both sides
Engage industry experts where needed to provide analytical support for validation and negotiations
Reward carriers that offer clarity and transparency with commitments for cargo
This document provides an overview of Irish Continental Group plc's Ferries and Container Divisions for the first half of 2014. The Ferries Division saw an 8% increase in turnover but a 30% decrease in operating profit. Revenue from passengers, cars, and onboard sales was up 4% while RoRo freight revenue increased 24%. Fuel costs increased 17%. The Container Division had a 3% increase in turnover but operating profit remained the same. Container volumes were up 1.5% while terminal volumes increased 7.3%. Overall group turnover was up 8.1% but operating profit decreased 18.8% and earnings per share decreased 18.8%. Net debt decreased 31.8% to €71.9 million.
Cabot Oil & Gas Marcellus & Eagle Ford Presentation at BOA Merrill Lynch Glob...Marcellus Drilling News
PowerPoint presentation with loads of useful maps and charts that details Cabot's shale drilling program in the northeast Marcellus--in Susquehanna County, PA. Cabot is the lowest price producer MDN is aware of. They estimate in 2014 their breakeven cost to drill--the cost at which they will start turning a profit--is a low, low 80 cents per thousand cubic feet of natural gas ($0.80 Mcf). It is an astonishing number.
Cabot Oil & Gas Slide Presentation at Merrill Lunch Energy ConferenceMarcellus Drilling News
The slide presentation used by Cabot Oil & Gas at the November 2014 Merrill Lynch Energy Conference in Miami, FL. The slides provide an update on Cabot's Marcellus Shale drilling program in Susquehanna County, PA, along with details on their new and growing Eagle Ford drilling program.
The document provides an overview of OSX and its strategic partnerships and projects. Specifically:
- OSX is a Brazilian integrated offshore oil and gas services provider with strategic partnerships with Hyundai for shipbuilding expertise and OGX as its anchor client.
- It is developing an industrial shipbuilding complex in Açu with technology transfer from Hyundai to meet growing demand from Petrobras and OGX for offshore oil and gas equipment over the next decade.
- OSX is also establishing an ITN naval technology institute to train local personnel and develop the domestic supply chain and technological capabilities for the offshore oil and gas industry.
Impact IMO sulphur regulations on Rotterdam, Platts european bunker fuel conf...Ronald Backers
What would be certain and uncertain in the coming years concerning the decision of the IMO to start the new sulphur cap for bunker fuels in 2020? It's about production, storage and demand of fuel oil, blend components, LNG etcetera
Bourbon Corporation is a world leader in offshore marine services. It provides vessels and offshore marine services to oil and gas companies. The presentation discusses Bourbon's history, fleet, activities, clients, and strategy to transform the business. Bourbon has a modern fleet of 500 offshore vessels and aims to grow beyond 2015 through an "asset smart" strategy that includes selling vessels while continuing to operate them through long-term charters. This will reduce debt while maintaining operations.
The document summarizes the IMO 2020 regulation which will require ships to use marine fuels with no more than 0.5% sulfur content starting in 2020. This is a significant decrease from the current 3.5% global limit and will require ships to switch to lower sulfur fuels like marine gas oil or install exhaust gas cleaning systems. The transition presents many challenges for shipowners, including worldwide fuel availability and costs, and technical difficulties in cleaning fuel systems and retrofitting exhaust gas cleaning technology. The regulation will greatly impact the shipping industry and is expected to increase industry costs by $60-240 billion as ships upgrade equipment and switch to higher-priced compliant fuels.
IMO 2020: Are you Ready?_TRANSPOREON Group_20190516Vivien Cheong
The Path Forward: Managing the Fuel Component of trans-Pacific 2019-2020 Contracting Cycle
Request a detailed explanation of how your carrier’s trade factors are calculated
Be able to validate the assumptions including ship size, speed and industrial utilization against industry benchmarks
Understand the timing for your carrier’s implementation of the new fuel formula. Will it go into effect in January 2020 or sooner?
Understand the impact for each carriers’ all-in-rate (ocean plus bunker) based on future changes in the fuel prices, both up and down.
Ensure contracts address failure to come to agreement on how future fuel surcharges will be dealt with as well as protection in place for space commitments and price from time of implementation until the end of contract.
Be prepared to offer your own fuel formula to carriers where there is a lack of clarify
Ensure your own formula is fair for both sides
Engage industry experts where needed to provide analytical support for validation and negotiations
Reward carriers that offer clarity and transparency with commitments for cargo
This document provides an overview of Irish Continental Group plc's Ferries and Container Divisions for the first half of 2014. The Ferries Division saw an 8% increase in turnover but a 30% decrease in operating profit. Revenue from passengers, cars, and onboard sales was up 4% while RoRo freight revenue increased 24%. Fuel costs increased 17%. The Container Division had a 3% increase in turnover but operating profit remained the same. Container volumes were up 1.5% while terminal volumes increased 7.3%. Overall group turnover was up 8.1% but operating profit decreased 18.8% and earnings per share decreased 18.8%. Net debt decreased 31.8% to €71.9 million.
Cabot Oil & Gas Marcellus & Eagle Ford Presentation at BOA Merrill Lynch Glob...Marcellus Drilling News
PowerPoint presentation with loads of useful maps and charts that details Cabot's shale drilling program in the northeast Marcellus--in Susquehanna County, PA. Cabot is the lowest price producer MDN is aware of. They estimate in 2014 their breakeven cost to drill--the cost at which they will start turning a profit--is a low, low 80 cents per thousand cubic feet of natural gas ($0.80 Mcf). It is an astonishing number.
Cabot Oil & Gas Slide Presentation at Merrill Lunch Energy ConferenceMarcellus Drilling News
The slide presentation used by Cabot Oil & Gas at the November 2014 Merrill Lynch Energy Conference in Miami, FL. The slides provide an update on Cabot's Marcellus Shale drilling program in Susquehanna County, PA, along with details on their new and growing Eagle Ford drilling program.
The document provides an overview of OSX and its strategic partnerships and projects. Specifically:
- OSX is a Brazilian integrated offshore oil and gas services provider with strategic partnerships with Hyundai for shipbuilding expertise and OGX as its anchor client.
- It is developing an industrial shipbuilding complex in Açu with technology transfer from Hyundai to meet growing demand from Petrobras and OGX for offshore oil and gas equipment over the next decade.
- OSX is also establishing an ITN naval technology institute to train local personnel and develop the domestic supply chain and technological capabilities for the offshore oil and gas industry.
Impact IMO sulphur regulations on Rotterdam, Platts european bunker fuel conf...Ronald Backers
What would be certain and uncertain in the coming years concerning the decision of the IMO to start the new sulphur cap for bunker fuels in 2020? It's about production, storage and demand of fuel oil, blend components, LNG etcetera
Bourbon Corporation is a world leader in offshore marine services. It provides vessels and offshore marine services to oil and gas companies. The presentation discusses Bourbon's history, fleet, activities, clients, and strategy to transform the business. Bourbon has a modern fleet of 500 offshore vessels and aims to grow beyond 2015 through an "asset smart" strategy that includes selling vessels while continuing to operate them through long-term charters. This will reduce debt while maintaining operations.
- BOURBON reported revenues of €1.3 billion in 2013, up 13.1% at constant exchange rates, with improved profitability.
- The company added 38 vessels to its fleet and disposed of 31 vessels for $770 million through sales and long-term bareboat charters.
- BOURBON generated strong positive free cash flow of €450 million and reduced net debt by €320 million.
- The company is proposing a dividend of €1 per share, a 34% increase from 2012.
An updated PowerPoint from COG presented at the Barclays CEO Energy/Power Conference 2015 in New York City, September 2015. Cabot is one of (perhaps THE) most successful drillers in the Marcellus Shale.
Global Petroleum Corporation is facing challenges including decreased demand and revenues that are squeezing profit margins. To address this, GPC is pursuing cost reduction opportunities across procurement, vessels and shore base support. For vessels, GPC aims to optimize capacity utilization and rationalize vessel numbers. For shore bases, GPC will evaluate outsourcing options and implementing new software. The proposals estimate annual savings of 30% for vessels and 18% for shore bases. Risks include demand variability and supplier reliance, which GPC plans to mitigate through contracts and disaster preparedness.
This document summarizes a presentation made to Bourbon shareholders on September 25, 2015. It discusses how Bourbon is influenced by oil prices, its operational and financial resilience factors, and how it compares to competitors in the current market environment. Bourbon aims to maintain a stable dividend, reduce debt levels, and potentially pursue options to further strengthen dividend growth or allow for share liquidity at a valuation reflecting the company's long-term economic value.
This document provides an overview of Irish Continental Group plc's 2013 results. Key points include:
- ICG has two business units - Ferries and Container divisions. Ferries accounted for 61% of turnover and 83% of operating profit.
- For 2013, ICG saw increases in turnover, EBITDA, and operating profit compared to 2012. Profit per share and net debt declined.
- The Ferries Division saw growth in freight revenue but declines in passenger and car revenue. Fuel costs decreased. The Container Division saw increased container volumes but lower terminal volumes.
1) The document discusses installing an exhaust gas cleaning system called a scrubber on the pilot vessel MV Tarago to comply with sulphur regulations. It will cost $10 million to install and could save $7 million per year in ECA areas by allowing the vessel to continue using cheaper high-sulphur fuel.
2) Key points examined in the pre-study included loss of cargo space, weight and stability impacts, retrofit challenges, power consumption, fresh water usage, and operational impacts. Extensive piping and cabling would be required.
3) Installation of the large scrubber unit, weighing 45 tons, is underway on the vessel. Third-party testing and verification will begin
- The company reported solid results for Q1 2013, with good performance in several regions offset by some planned dry-docking and lower vessel utilization.
- 2013 guidance was re-iterated, with revenue and earnings expected to show progress despite some project delays and seasonal utilization patterns.
- The company has a record backlog above $10 billion and sees growth opportunities across all its markets, though some industry projects have been postponed.
PTI_Edition_66___The_Collector__8217_s_Edition_IIFord_PTI66_4Peter Ford
The document discusses how the increasing size of container ships, from 8,160 TEU in 2006 to 19,224 TEU currently, has impacted port operations. Larger ships have wider beams and taller stacking heights, requiring ports to invest in infrastructure upgrades like deeper berths and channels as well as larger cranes to accommodate the new vessel sizes. These investments come at a high capital cost for ports. Additionally, the upsizing of shipping networks has increased average berth moves per hour required at ports by 33% and peaks in activity levels, straining port capacity and productivity. Shipping lines and ports will need to collaborate more closely to support the large capital investments needed to handle increasingly large container ships.
Nylex Water Solutions is considering outsourcing its freight delivery model to address issues with its aging fleet and driver workforce. While initial implementation would be at the Pakenham site, the new model is intended to eventually roll out to other sites. Potential threats of outsourcing include loss of delivery knowledge, increased safety risks, and financial and cultural adjustment costs. However, opportunities exist to retain knowledge, improve safety controls and financial benefits through fleet and cost efficiencies. Key performance metrics such as tank delivery rates, daily/weekly load values, and completed delivery ratios will be used to monitor the outsourced carrier.
2016 analyst presentation final nbaa templateTextronCorp
Scott Ernest presented at the 2016 Textron Aviation Analyst Meeting. Certain statements in the presentation were forward-looking and subject to risks and uncertainties outlined in SEC filings. The agenda covered an overview, accomplishments in 2016 including the first flight of the Citation Longitude and introduction of the Denali, the market outlook, product updates, defense programs, and operations. Textron Aviation is focusing investment on expanding into new aircraft segments like midsize and large jets with the Longitude and Hemisphere, and single engine turboprops with the Denali.
This document provides a market summary and outlook for the global shipping industry in mid-2015. It discusses trends in key shipping segments including containerships, tankers, bulk carriers and offshore vessels. For containerships, demand is expected to remain high for large vessels above 12,000 TEU due to cost savings. Newbuilding contracting is forecast to reach 1.9 million TEU in 2015 with a focus on vessels over 16,000 TEU. Overall containership fleet growth is projected to be around 7% in 2015 and 5.5% in 2016.
Presentation of the Horizon 2010 strategic plan
In just a few years, BOURBON has developed a unique strategy to strengthen its leadership in a very buoyant maritime modern offshore market, to pass from the position of audacious challenger to leader in modern offshore oil and gas marine services.
Post Recession Offshore - Oil & Gas IndustryAftab Hasan
This document provides an overview and outlook of the global offshore oil and gas industry following the economic recession. It discusses factors influencing the offshore market such as increasing global energy consumption and the cyclic nature of oil prices. The financial implications for the offshore industry are also examined, noting growing investment in deepwater and horizontal drilling while fleet utilization does not yet require additional rigs. The outlook for offshore energy vessels is cautiously optimistic, with demand for rigs and support vessels increasing but the market remaining cautious about new builds. The conclusion is that as onshore reserves deplete, offshore exploration and production will extend into new basins, creating opportunities for industry growth.
The Gold Coast local government sought to develop the marine industry by establishing a marine precinct. Through research and planning, they identified land needs, infrastructure requirements, and that the precinct could generate thousands of jobs and hundreds of millions in exports. The government provided construction of roads, utilities, and marketing assistance, while private developers built facilities. This resulted in the largest marine precinct in the Southern Hemisphere, with over $480 million contributed annually to the local economy and $350 million in exports.
A presentation by Ibrahim Djama, commercial director, port of Djibouti, delivered during African Ports Evolution 2015 in Durban, South Africa.
More like this on www.transportworldafrica.co.za
The revival and transformation of Europe’s largest onshore oilfield; the Pato...Albania Energy Association
Presentation: The revival and transformation of Europe’s largest onshore oilfield; the Patos-Marinza field
Leonidha Çobo, General Manager, Bankers Petroleum Albania Ltd
Atwood Oceanics is an offshore drilling company that owns technologically advanced rigs. The presentation recommends Atwood as a buy with a 12-month price target of $63, representing 36.6% upside. It cites Atwood's premium ultra-deepwater assets, unsurpassed margins, and organic EPS growth driven by investments in new "A-class" drillships as reasons for the positive outlook despite a downward trend in the overall offshore drilling industry. A discounted cash flow valuation ranges from $64.97 to $87.04 per share based on projections of Atwood's contracted backlog and operating margins.
The document provides an overview of Odfjell's second quarter 2013 results. Key points include:
- EBITDA increased to $36 million compared to $27 million in the previous quarter due to better utilization of the chemical tanker fleet.
- Time charter results were up 8% compared to last quarter.
- They took delivery of the Bow Pioneer, the world's largest chemical tanker.
- They finalized agreements with Lindsay Goldberg to expand their partnership to include substantially all tank terminal assets.
This document provides an overview of Bourbon, a leader in offshore oil and gas marine services. It summarizes that in 2013, Bourbon operated a fleet of 485 vessels serving exploration, development and production activities. It also offered subsea services with 18 vessels and underwater robots. For 2014, Bourbon expected demand for offshore vessels to grow by 10% annually and targeted 8-10% revenue growth and a slight improvement in profitability ratios.
A presentation delivered by Cabot Oil & Gas at the Scotia Howard Weil Energy Conference in New Orleans in March 2016. During the presentation we learn Cabot plans to complete 40 wells in the Marcellus in 2016 and grow production slightly--up to 7% in 2016 over 2015.
- BOURBON reported revenues of €1.3 billion in 2013, up 13.1% at constant exchange rates, with improved profitability.
- The company added 38 vessels to its fleet and disposed of 31 vessels for $770 million through sales and long-term bareboat charters.
- BOURBON generated strong positive free cash flow of €450 million and reduced net debt by €320 million.
- The company is proposing a dividend of €1 per share, a 34% increase from 2012.
An updated PowerPoint from COG presented at the Barclays CEO Energy/Power Conference 2015 in New York City, September 2015. Cabot is one of (perhaps THE) most successful drillers in the Marcellus Shale.
Global Petroleum Corporation is facing challenges including decreased demand and revenues that are squeezing profit margins. To address this, GPC is pursuing cost reduction opportunities across procurement, vessels and shore base support. For vessels, GPC aims to optimize capacity utilization and rationalize vessel numbers. For shore bases, GPC will evaluate outsourcing options and implementing new software. The proposals estimate annual savings of 30% for vessels and 18% for shore bases. Risks include demand variability and supplier reliance, which GPC plans to mitigate through contracts and disaster preparedness.
This document summarizes a presentation made to Bourbon shareholders on September 25, 2015. It discusses how Bourbon is influenced by oil prices, its operational and financial resilience factors, and how it compares to competitors in the current market environment. Bourbon aims to maintain a stable dividend, reduce debt levels, and potentially pursue options to further strengthen dividend growth or allow for share liquidity at a valuation reflecting the company's long-term economic value.
This document provides an overview of Irish Continental Group plc's 2013 results. Key points include:
- ICG has two business units - Ferries and Container divisions. Ferries accounted for 61% of turnover and 83% of operating profit.
- For 2013, ICG saw increases in turnover, EBITDA, and operating profit compared to 2012. Profit per share and net debt declined.
- The Ferries Division saw growth in freight revenue but declines in passenger and car revenue. Fuel costs decreased. The Container Division saw increased container volumes but lower terminal volumes.
1) The document discusses installing an exhaust gas cleaning system called a scrubber on the pilot vessel MV Tarago to comply with sulphur regulations. It will cost $10 million to install and could save $7 million per year in ECA areas by allowing the vessel to continue using cheaper high-sulphur fuel.
2) Key points examined in the pre-study included loss of cargo space, weight and stability impacts, retrofit challenges, power consumption, fresh water usage, and operational impacts. Extensive piping and cabling would be required.
3) Installation of the large scrubber unit, weighing 45 tons, is underway on the vessel. Third-party testing and verification will begin
- The company reported solid results for Q1 2013, with good performance in several regions offset by some planned dry-docking and lower vessel utilization.
- 2013 guidance was re-iterated, with revenue and earnings expected to show progress despite some project delays and seasonal utilization patterns.
- The company has a record backlog above $10 billion and sees growth opportunities across all its markets, though some industry projects have been postponed.
PTI_Edition_66___The_Collector__8217_s_Edition_IIFord_PTI66_4Peter Ford
The document discusses how the increasing size of container ships, from 8,160 TEU in 2006 to 19,224 TEU currently, has impacted port operations. Larger ships have wider beams and taller stacking heights, requiring ports to invest in infrastructure upgrades like deeper berths and channels as well as larger cranes to accommodate the new vessel sizes. These investments come at a high capital cost for ports. Additionally, the upsizing of shipping networks has increased average berth moves per hour required at ports by 33% and peaks in activity levels, straining port capacity and productivity. Shipping lines and ports will need to collaborate more closely to support the large capital investments needed to handle increasingly large container ships.
Nylex Water Solutions is considering outsourcing its freight delivery model to address issues with its aging fleet and driver workforce. While initial implementation would be at the Pakenham site, the new model is intended to eventually roll out to other sites. Potential threats of outsourcing include loss of delivery knowledge, increased safety risks, and financial and cultural adjustment costs. However, opportunities exist to retain knowledge, improve safety controls and financial benefits through fleet and cost efficiencies. Key performance metrics such as tank delivery rates, daily/weekly load values, and completed delivery ratios will be used to monitor the outsourced carrier.
2016 analyst presentation final nbaa templateTextronCorp
Scott Ernest presented at the 2016 Textron Aviation Analyst Meeting. Certain statements in the presentation were forward-looking and subject to risks and uncertainties outlined in SEC filings. The agenda covered an overview, accomplishments in 2016 including the first flight of the Citation Longitude and introduction of the Denali, the market outlook, product updates, defense programs, and operations. Textron Aviation is focusing investment on expanding into new aircraft segments like midsize and large jets with the Longitude and Hemisphere, and single engine turboprops with the Denali.
This document provides a market summary and outlook for the global shipping industry in mid-2015. It discusses trends in key shipping segments including containerships, tankers, bulk carriers and offshore vessels. For containerships, demand is expected to remain high for large vessels above 12,000 TEU due to cost savings. Newbuilding contracting is forecast to reach 1.9 million TEU in 2015 with a focus on vessels over 16,000 TEU. Overall containership fleet growth is projected to be around 7% in 2015 and 5.5% in 2016.
Presentation of the Horizon 2010 strategic plan
In just a few years, BOURBON has developed a unique strategy to strengthen its leadership in a very buoyant maritime modern offshore market, to pass from the position of audacious challenger to leader in modern offshore oil and gas marine services.
Post Recession Offshore - Oil & Gas IndustryAftab Hasan
This document provides an overview and outlook of the global offshore oil and gas industry following the economic recession. It discusses factors influencing the offshore market such as increasing global energy consumption and the cyclic nature of oil prices. The financial implications for the offshore industry are also examined, noting growing investment in deepwater and horizontal drilling while fleet utilization does not yet require additional rigs. The outlook for offshore energy vessels is cautiously optimistic, with demand for rigs and support vessels increasing but the market remaining cautious about new builds. The conclusion is that as onshore reserves deplete, offshore exploration and production will extend into new basins, creating opportunities for industry growth.
The Gold Coast local government sought to develop the marine industry by establishing a marine precinct. Through research and planning, they identified land needs, infrastructure requirements, and that the precinct could generate thousands of jobs and hundreds of millions in exports. The government provided construction of roads, utilities, and marketing assistance, while private developers built facilities. This resulted in the largest marine precinct in the Southern Hemisphere, with over $480 million contributed annually to the local economy and $350 million in exports.
A presentation by Ibrahim Djama, commercial director, port of Djibouti, delivered during African Ports Evolution 2015 in Durban, South Africa.
More like this on www.transportworldafrica.co.za
The revival and transformation of Europe’s largest onshore oilfield; the Pato...Albania Energy Association
Presentation: The revival and transformation of Europe’s largest onshore oilfield; the Patos-Marinza field
Leonidha Çobo, General Manager, Bankers Petroleum Albania Ltd
Atwood Oceanics is an offshore drilling company that owns technologically advanced rigs. The presentation recommends Atwood as a buy with a 12-month price target of $63, representing 36.6% upside. It cites Atwood's premium ultra-deepwater assets, unsurpassed margins, and organic EPS growth driven by investments in new "A-class" drillships as reasons for the positive outlook despite a downward trend in the overall offshore drilling industry. A discounted cash flow valuation ranges from $64.97 to $87.04 per share based on projections of Atwood's contracted backlog and operating margins.
The document provides an overview of Odfjell's second quarter 2013 results. Key points include:
- EBITDA increased to $36 million compared to $27 million in the previous quarter due to better utilization of the chemical tanker fleet.
- Time charter results were up 8% compared to last quarter.
- They took delivery of the Bow Pioneer, the world's largest chemical tanker.
- They finalized agreements with Lindsay Goldberg to expand their partnership to include substantially all tank terminal assets.
This document provides an overview of Bourbon, a leader in offshore oil and gas marine services. It summarizes that in 2013, Bourbon operated a fleet of 485 vessels serving exploration, development and production activities. It also offered subsea services with 18 vessels and underwater robots. For 2014, Bourbon expected demand for offshore vessels to grow by 10% annually and targeted 8-10% revenue growth and a slight improvement in profitability ratios.
A presentation delivered by Cabot Oil & Gas at the Scotia Howard Weil Energy Conference in New Orleans in March 2016. During the presentation we learn Cabot plans to complete 40 wells in the Marcellus in 2016 and grow production slightly--up to 7% in 2016 over 2015.
Oceanteam Shipping ASA is an Oslo Stock Exchange listed shipping company that operates a fleet of large construction support vessels and provides engineering services. The company's CEO is Haico Halbesma and CFO is Torbjørn Skulstad. Oceanteam presented at the Pareto Conference in Oslo on September 4, 2013, providing an overview of the company, its finance structure, recent financial performance, and positive market outlook for large deep-water vessels.
Parex resources corporate_presentation september 5 2014PaceGrp
The document provides an overview of Parex Resources and its operations. It summarizes that in the second quarter of 2014, Parex had an operating netback of US$61.65/bbl and production of around 25,250 bopd. Parex has a significant land base in Colombia and a diversified production portfolio, with plans to continue growing and diversifying production. The company also discusses exploring new plays and expanding in existing areas through partnerships and acquisitions to provide sustainable growth.
Current situation in the shipbuilding industry innovationoecd
- The shipbuilding industry has experienced periods of high and low volume over the past 50 years, recently suffering due to the 2008 financial crisis.
- Current challenges for creating value in shipbuilding include developing engineering capabilities, adapting to new technologies, and ensuring regulations are implemented in a way that enables new technologies.
- The SAJ2015 forecast models future seaborne trade and ship replacement needs to estimate newbuilding requirements through 2035. It assumes moderate global GDP growth and forecasts growing demand for gas carriers and container ships.
- The forecast estimates an average newbuilding requirement of 63.4 million gross tons between 2014-2035, with about half derived from replacing older ships and half from growth in seaborne trade.
PowerPoint slide deck from Cabot Oil & Gas updating investors on the company's recent history and future plans. Cabot is the premier Marcellus Shale gas producer in the "dry gas" area of northeastern Pennsylvania (Susquehanna County). This update highlights a new 10-well pad producing over 200 million cubic feet of natural gas per day--simply astonishing. A lot of other great information in this presentation.
Deep Sea Supply Investordagen KristiansandNordnet Norge
Deep Sea Supply owns and operates a fleet of 40 offshore supply vessels worldwide. It is a public company listed on the Oslo Stock Exchange with a market capitalization of approximately $390 million. Hemen Holding Limited is the largest shareholder, owning 35.1% of shares. Deep Sea Supply has expanded its fleet through newbuild orders and acquisitions, growing from 6 vessels in 2005 to 40 vessels currently. It aims to create shareholder value through dividend payments and opportunistic acquisitions and sales of vessels.
Deutsche Bank Leveraged Finance Conference October 2013Company Spotlight
Genesis Energy provides integrated midstream energy services including pipeline transportation, refinery services, and supply and logistics. The presentation discusses Genesis' acquisition of Hornbeck Offshore's tug and barge business to complement its existing marine transportation operations. It also announces a $264 million equity offering to fund the acquisition and maintain a pro forma leverage ratio of 2.87x following the transaction. The acquisition and equity raise position Genesis to further integrate across the crude oil supply chain from production to refining.
The document discusses China's shipbuilding industry and efforts to reduce CO2 emissions from ships. It finds that overcapacity since 2008 has depressed orderbooks in China, resulting in South Korea recently surpassing China in ship deliveries measured by compensated gross tons. The enclosures provide details on China's marine fuel specifications, composition of domestic fuels, sulfur limits for emissions control, and plans to implement new emissions standards for new and in-use vessels through 2020. Trends show China's inland fleet is growing in deadweight tonnage and size while decreasing in numbers of ships as older vessels are decommissioned. Electrical propulsion is being adopted but data on Chinese adoptions was limited.
This document outlines a presentation on imbalances in the shipbuilding industry, including:
1. The magnitude of excess shipyard capacity and vessel supply, with revised forecasts showing lower future requirements than capacity.
2. Characteristics of the concentrated and cyclical shipbuilding market that contribute to imbalances, such as structural overcapacity and the influence of shipping market cycles.
3. Potential policy measures to address imbalances, like temporary capacity reductions, but imbalances are expected to persist without strong actions or positive economic developments.
Tethys Oil is an oil and gas exploration and production company with interests in oil producing licenses in Oman and Lithuania. In the third quarter of 2013, Tethys Oil achieved revenue growth of 22.4% and EBITDA growth of 24.7% compared to the same period in 2012. The company's average daily production was approximately 4,700 barrels of oil. In Oman, Tethys is focused on appraisal drilling on the B4EW4 structure and exploring new prospects identified through seismic programs. In Lithuania, the company is evaluating conventional and unconventional assets and drilling exploration wells. Tethys aims to increase production and reserves through its ongoing development and exploration activities.
Global dynamics are changing the landscape of cargo flows due to two factors: growth in demand and changes in the nature of demand. Demand growth is slowing while volatility is increasing. Ship sizes are rapidly increasing, with ultra large container vessels dominating new orders and trade routes. This is changing cargo flows and challenging terminal operators with greater peaks and troughs in volumes and an increased need for transhipment capabilities. Terminals must improve performance to accommodate larger vessels while maintaining reliability, productivity and efficiency.
Parex Resources Corporate Presentation May 9 2014ParexResources
Parex Resources is an oil and gas exploration and production company operating in Colombia. In 2014, the company expects to produce between 17,500-18,500 barrels of oil per day, a 15% increase over 2013. Parex has a significant land base and diversified production and exploration assets in Colombia. The presentation provides details on Parex's 2014 capital program, production guidance, reserve estimates, and new play concepts being explored.
Similar to BOURBON 2015 Leadership Strategy slideshow (20)
BOURBON Presentation to shareholders September 4, 2014BOURBON
This document contains charts and graphs showing trends in manpower and fleet size from 1980-2015. The charts show that the percentage of manpower working in their own region decreased from 89% to 35% from 1980-2015, with most workers coming from Europe, Asia, and Africa. The number of people employed increased from 1,300 in 2002 to over 11,000 in 2013. Additional charts show the total number of deliveries, crew members, and ships in the fleet grew steadily from 2003-2013.
BOURBON offers a wide range of Marine and Subsea services for the most demanding clients: super majors, national companies, independents, contractors. Fully aligned on OCIMF standards, the Group relies on strong local partnerships, training and support to ensure the highest quality of service worldwide.
The complete presentation “First half 2011 results”BOURBON
Bourbon reported its financial results for the first half of 2011, showing increases in revenue, operating income, and fleet size compared to the same period last year. The number of owned vessels grew 9% to 424 ships. Revenue increased 18.8% to 482.7 million euros, while operating income rose 19.9% to 43.1 million euros. However, net income was impacted by foreign exchange losses from the weakening euro. Bourbon's marine and subsea services divisions all saw revenue and profitability improvements.
Webnews Deepwater Asia Congress 2011 PresentationBOURBON
This document discusses the types of offshore support vessels needed for different types of offshore structures and operations. It notes that deeper water offshore operations require larger, more powerful dynamically positioned vessels. Shallow water operations can be supported by smaller tug supply vessels and platform supply vessels under 1,000 tons, while deepwater operations require larger platform supply vessels over 4,000 tons with dynamic positioning, specialized equipment and storage capacities. As operations move to ultra deepwater, an emerging trend is for even larger vessels like very large platform supply vessels over 5,000 tons and anchor handling tug supply vessels with bollard pulls over 250 tons. Safety and competent crew are important for reliable deepwater operations.
Webnews The assistance and salvage tugs draw crowdsBOURBON
The assistance and salvage tugs Les Abeilles hosted over 5,000 visitors in open days over the summer to raise money for charities that support victims of maritime disasters and cystic fibrosis research. Visitors could tour the bridge, engine rooms, and aft deck of Abeille Bourbon and Abeille Liberté, including the 200 ton winch that aids in rescue operations. In August, the support vessel Argonaute opened for tours in Brest, with Abeille Bourbon following in September, continuing the tugs' tradition of public outreach and fundraising for coastal protection missions.
Webnews Focus on Bourbon Alexandre's attackBOURBON
Three crew members of the vessel Bourbon Alexandre, which was contracted by Addax off the Nigerian coast, were kidnapped during an attack by multiple speedboats in the night of September 21-22, 2010. The other 13 crew members remained on board without injury. Bourbon confirmed the kidnapping and is working closely with French and Nigerian authorities on a rapid liberation while maintaining the safety of the kidnapped crew. No group has claimed responsibility so far.
Why Psychological Safety Matters for Software Teams - ACE 2024 - Ben Linders.pdfBen Linders
Psychological safety in teams is important; team members must feel safe and able to communicate and collaborate effectively to deliver value. It’s also necessary to build long-lasting teams since things will happen and relationships will be strained.
But, how safe is a team? How can we determine if there are any factors that make the team unsafe or have an impact on the team’s culture?
In this mini-workshop, we’ll play games for psychological safety and team culture utilizing a deck of coaching cards, The Psychological Safety Cards. We will learn how to use gamification to gain a better understanding of what’s going on in teams. Individuals share what they have learned from working in teams, what has impacted the team’s safety and culture, and what has led to positive change.
Different game formats will be played in groups in parallel. Examples are an ice-breaker to get people talking about psychological safety, a constellation where people take positions about aspects of psychological safety in their team or organization, and collaborative card games where people work together to create an environment that fosters psychological safety.
Carrer goals.pptx and their importance in real lifeartemacademy2
Career goals serve as a roadmap for individuals, guiding them toward achieving long-term professional aspirations and personal fulfillment. Establishing clear career goals enables professionals to focus their efforts on developing specific skills, gaining relevant experience, and making strategic decisions that align with their desired career trajectory. By setting both short-term and long-term objectives, individuals can systematically track their progress, make necessary adjustments, and stay motivated. Short-term goals often include acquiring new qualifications, mastering particular competencies, or securing a specific role, while long-term goals might encompass reaching executive positions, becoming industry experts, or launching entrepreneurial ventures.
Moreover, having well-defined career goals fosters a sense of purpose and direction, enhancing job satisfaction and overall productivity. It encourages continuous learning and adaptation, as professionals remain attuned to industry trends and evolving job market demands. Career goals also facilitate better time management and resource allocation, as individuals prioritize tasks and opportunities that advance their professional growth. In addition, articulating career goals can aid in networking and mentorship, as it allows individuals to communicate their aspirations clearly to potential mentors, colleagues, and employers, thereby opening doors to valuable guidance and support. Ultimately, career goals are integral to personal and professional development, driving individuals toward sustained success and fulfillment in their chosen fields.
This presentation by OECD, OECD Secretariat, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
The importance of sustainable and efficient computational practices in artificial intelligence (AI) and deep learning has become increasingly critical. This webinar focuses on the intersection of sustainability and AI, highlighting the significance of energy-efficient deep learning, innovative randomization techniques in neural networks, the potential of reservoir computing, and the cutting-edge realm of neuromorphic computing. This webinar aims to connect theoretical knowledge with practical applications and provide insights into how these innovative approaches can lead to more robust, efficient, and environmentally conscious AI systems.
Webinar Speaker: Prof. Claudio Gallicchio, Assistant Professor, University of Pisa
Claudio Gallicchio is an Assistant Professor at the Department of Computer Science of the University of Pisa, Italy. His research involves merging concepts from Deep Learning, Dynamical Systems, and Randomized Neural Systems, and he has co-authored over 100 scientific publications on the subject. He is the founder of the IEEE CIS Task Force on Reservoir Computing, and the co-founder and chair of the IEEE Task Force on Randomization-based Neural Networks and Learning Systems. He is an associate editor of IEEE Transactions on Neural Networks and Learning Systems (TNNLS).
This presentation by Thibault Schrepel, Associate Professor of Law at Vrije Universiteit Amsterdam University, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
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This presentation by OECD, OECD Secretariat, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
This presentation by OECD, OECD Secretariat, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
This presentation by Professor Giuseppe Colangelo, Jean Monnet Professor of European Innovation Policy, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
This presentation by Nathaniel Lane, Associate Professor in Economics at Oxford University, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
This presentation by OECD, OECD Secretariat, was made during the discussion “Competition and Regulation in Professions and Occupations” held at the 77th meeting of the OECD Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found at oe.cd/crps.
This presentation was uploaded with the author’s consent.
1.) Introduction
Our Movement is not new; it is the same as it was for Freedom, Justice, and Equality since we were labeled as slaves. However, this movement at its core must entail economics.
2.) Historical Context
This is the same movement because none of the previous movements, such as boycotts, were ever completed. For some, maybe, but for the most part, it’s just a place to keep your stable until you’re ready to assimilate them into your system. The rest of the crabs are left in the world’s worst parts, begging for scraps.
3.) Economic Empowerment
Our Movement aims to show that it is indeed possible for the less fortunate to establish their economic system. Everyone else – Caucasian, Asian, Mexican, Israeli, Jews, etc. – has their systems, and they all set up and usurp money from the less fortunate. So, the less fortunate buy from every one of them, yet none of them buy from the less fortunate. Moreover, the less fortunate really don’t have anything to sell.
4.) Collaboration with Organizations
Our Movement will demonstrate how organizations such as the National Association for the Advancement of Colored People, National Urban League, Black Lives Matter, and others can assist in creating a much more indestructible Black Wall Street.
5.) Vision for the Future
Our Movement will not settle for less than those who came before us and stopped before the rights were equal. The economy, jobs, healthcare, education, housing, incarceration – everything is unfair, and what isn’t is rigged for the less fortunate to fail, as evidenced in society.
6.) Call to Action
Our movement has started and implemented everything needed for the advancement of the economic system. There are positions for only those who understand the importance of this movement, as failure to address it will continue the degradation of the people deemed less fortunate.
No, this isn’t Noah’s Ark, nor am I a Prophet. I’m just a man who wrote a couple of books, created a magnificent website: http://www.thearkproject.llc, and who truly hopes to try and initiate a truly sustainable economic system for deprived people. We may not all have the same beliefs, but if our methods are tried, tested, and proven, we can come together and help others. My website: http://www.thearkproject.llc is very informative and considerably controversial. Please check it out, and if you are afraid, leave immediately; it’s no place for cowards. The last Prophet said: “Whoever among you sees an evil action, then let him change it with his hand [by taking action]; if he cannot, then with his tongue [by speaking out]; and if he cannot, then, with his heart – and that is the weakest of faith.” [Sahih Muslim] If we all, or even some of us, did this, there would be significant change. We are able to witness it on small and grand scales, for example, from climate control to business partnerships. I encourage, invite, and challenge you all to support me by visiting my website.
This presentation by Yong Lim, Professor of Economic Law at Seoul National University School of Law, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
XP 2024 presentation: A New Look to Leadershipsamililja
Presentation slides from XP2024 conference, Bolzano IT. The slides describe a new view to leadership and combines it with anthro-complexity (aka cynefin).
This presentation by Katharine Kemp, Associate Professor at the Faculty of Law & Justice at UNSW Sydney, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
4. BOURBON 2015 leadership strategy
Focus on Marine Services to offshore industry
Invest $ 2 billion in growing deepwater market and into renewal of
shallow water old and obsolete fleet
• Deepwater (AHTS-PSV-IMR) 30 vessels 900 M$
• Shallow water (AHTS-PSV) 50 vessels 850 M$
• Crew Boats 64 vessels 250 M$
TOTAL 144 vessels 2 000 M$
Leverage on innovative and cost efficient vessels to increase
customers satisfaction
Recruit and train 5 000 new employees to BOURBON safety and
operations’ standards
4
5. BOURBON 2015 leadership strategy
5
BOURBON
2015
Horizon
2012
Offshore average yearly revenue growth 17% 21%
Offshore EBITDA /revenues (in 2015) 45% 41%
EBITDA/Capital employed (in 2015) 20% 18%
Fleet availability rate > 95% -
Running cost index at constant rate (in 2015) - 4% -
Existing fleet
12.31.2009
On order
Horizon 2012
BOURBON 2015
New buildings
TOTAL number
of vessels
Deepwater 82 22 30 134
Shallow water 52 44 50 146
TOTAL supply vessels 134 66 80 280
Crew boats 223 33 64 320
TOTAL FLEET 357 99 144 600
6. BOURBON 2015 leadership strategy
6
Financing strategy
500 million euros of assets disposal mainly in 2010,
New building capex paid 75% at delivery
China Exim Bank 400 M$ long term loan
Dividend pay-out target of 40% of consolidated profit
o Gearing 2015 : ≤ 0.5
o Net debt to EBITDA ratio: ≤ 2
8. Need for energy and GDP growth of emerging countries
will strongly increase oil and gas production
requirements
Marine Services growth driven by Oil Companies’
spending and fleet renewal
BOURBON 2015 focus investments on deepwater
market growth and shallow water replacement market
BOURBON 2015 means increasing customers’
satisfaction and BOURBON cost efficiency
Introduction
8
9. 9
Energy demand growth driven by emerging markets
Source: NASA
World energy consumption: who will turn the light off …?
10. 10
Energy demand growth driven by emerging markets
Source:, IMF, IEA, DB Global Research, Deutsche Bank, April 2010
Oil consumption and Wealth
11. Oil supply challenge
11
Energy demand growth driven by emerging markets
Source: CSIS, EIA, September 2009
Millions barrels/day
2009 2012 2015 2018 2021 2024 2027 2030
120
100
80
60
40
20
0
12. 12
Marine Services growth driven by oil companies’
spending and fleet renewal
Source: Energyfiles/Douglas Westwood, January 2010
Drivers: Exploration & Production spending
13. 13
Marine Services growth driven by oil companies’
spending and fleet renewal
Drivers: Subsea spending
$0
$5,000
$10,000
$15,000
$20,000
$25,000
2004 2005 2006 2007 2008 2009 2010e 2011e 2012e 2013e 2014e 2015e
Startup Year
SubseaCAPEX(US$MM)
N. America S. America North Sea Africa/Med. Asia Pacific
US$27.9bn
US$68.2bn
144% Increase
$0
$5,000
$10,000
$15,000
$20,000
$25,000
2004 2005 2006 2007 2008 2009 2010e 2011e 2012e 2013e 2014e 2015e
Startup Year
SubseaCAPEX(US$MM)
Source : Quest Offshore Resources 2010
$0
$5,000
$10,000
$15,000
$20,000
$25,000
2004 2005 2006 2007 2008 2009 2010e 2011e 2012e 2013e 2014e 2015e
Startup Year
SubseaCAPEX(US$MM)
N. America S. America North Sea Africa/Med. Asia Pacific
14. 14
Marine Services growth driven by oil companies’
spending and fleet renewal
Existing : 688
Shallow: 459
Deep: 229
Newbuilding: 118
Shallow: 47
Deep: 71
Operating : 3 884
To be installed : 1 703
Operating : 326
Newbuilding : 113
Source: ODS Petrodata, Infield March 2010
Market drivers: demand
DRILL RIGS STORAGE PRODUCTION
SUBSEA WELL &
COMPLETION
15. 15
OSV market: Supply and demand
Total number of vessels
= 1 365
Sources : ODS Petrodata/BOURBON, March 2010
320
on order
1 045 existing
vessels
Of which 11%
> 25 yrs old
Total number of vessels
= 1 712
188
on order
1 524 existing
vessels
Of which 50%
> 25 ans
D
E
E
P
S
H
A
L
L
O
W
0
20
40
60
80
100
120
H1
2010
H2
2010
H1
2011
H2
2011
H1
2012
H2
2012
H1
2013
H2
2013
0
20
40
60
80
100
120
H1
2010
H2
2010
H1
2011
H2
2011
H1
2012
H2
2012
H1
2013
H2
2013
Newbuilding deliveries
Newbuilding deliveries
16. DEEP WATER
PSV
Annual growth forecast:
6%
16
DEEP WATER
AHTS
Annual growth forecast:
5%
0
100
200
300
400
500
600
700
800
900
2009 2010 2011 2012 2013 2014 2015
vessels > 25 years
vessels < 25 years
Demand
Source : ODS Petrodata/BOURBON, 2010
0
100
200
300
400
500
600
700
800
900
2009 2010 2011 2012 2013 2014 2015
vessels > 25 years
vessels < 25 years
Demand
OSV market: Supply and demand
17. SHALLOW WATER
PSV*
Annual growth forecast:
2%
17
SHALLOW WATER
AHTS
Annual growth forecast:
1%
0
200
400
600
800
1000
1200
2009 2010 2011 2012 2013 2014 2015
vessels > 25 years
vessels < 25 years
Demand
Source : Estin & Co, 2009
0
200
400
600
800
1000
1200
2009 2010 2011 2012 2013 2014 2015
vessels > 25 years
vessels < 25 years
Demand
Vessels ≥ 30 years old not shown , as considered not competitive to modern vessels.
*Excluding utility vessels under 800 tons and barges
OSV market: Supply and demand
18. 18
North America
South America
West Africa
NW Europe
Asia
MMI
Source: ODS Petrodata March,2010
PSV and AHTS only
Vsls > 25
yrs old
2010 Total Shallow Fleet: 1 524
Vessels > 25 yrs Old: 766
Average Age of the Total Fleet : 20
2010
Total
vsls
nbr/area
49
190
240
99
101
301
2003
Total
vsls
nbr/area
277513
2646
85145
123194
98203
157423
Shallow water segment
OSV market: Supply and demand
19. 0
100
200
300
400
500
600
0-999 1-1 750 2-4 000 + 4 000
New building 0-25 yrs > 25 yrs
PSV fleet spectrum
19
Small PSV Medium PSV Large PSVUtility Boats
Source: ODS Petrodata, BOURBON, March 2010
SHALLOW DEEP
Nb of
vessels
Deadweight
(in metric tons)
New
OSV market: Supply and demand
20. 0
200
400
600
800
1000
1200
1400
0-3 999 4 000-10 000 10 000-15 000 15 000-22 000 + 22 000
New building 0-25 yrs > 25 yrs
20
Small AHTS Medium AHTS MLarge AHTSUtility Boats
SHALLOW DEEPNb of
vessels
Large AHTS
Power
(in BHP)
AHTS fleet spectrum
New
Source: ODS Petrodata, BOURBON, March 2010
OSV market: Supply and demand
21. 21
North America
South America
West Africa
NW Europe
Asia
MMI
Source: ODS Petrodata , BOURBON, March,2010
Vsls > 25
yrs old
Avr fleet
age/area
Total fleet: 333
Vessels > 25 yrs old: 226
Average Age of the Total Fleet : 26
Total
vsls
nbr/area
75
25
104
4
29
4
29
27
37
58
25
94
28
28
33
32
23
61
Utility boats market
Utiliy boats
PSV 0-999 t DWT
AHTS 0-3 999 BHP
OSV market: Supply and demand
22. 22
BOURBON invests for deepwater growth
and shallow water substitution
Continental Deep sea
Exploration/
Development
Production/
Maintenance
Life cycle
Technical
skills
$ 850m
50 vessels
$ 900m
30 vessels
$ 250m 64 vessels
AHTS + PSV
AHTS + PSV + IMR
Crew Boats
23. Number of vessels
Deep
Shallow
Crew boats
23
BOURBON invests for deepwater growth
and shallow water substitution
BOURBON’ S fleet growth
77 223 320
28 52 146
27 82 134
AHTS + PSV + IMR
AHTS + PSV
2002 2009 2015
600
vessels
24. 24
Invest for Deepwater growth
DPII AHTS 200T BP Hybrid propulsion
DPII AHTS 130T BP Oil rec
TUG 80T BP Offshore oil terminal
Combined PSV/IMR vessels 3600T dwt
– Clean design/clean class/diesel electric/DPII/Fifi I
– 1500 m3 (x barrels) liquid mud capacity
– 760 m2 deck space
– 50 berths
– Optional 40 ton subsea crane
25. 25
Focus on Shallow water
Liberty AHTS 200 300 series (54 + 20 units)
– 1800T dwt
– 80T BP
– 400 m2 deck space
– 690 m3 liquid mud
– DP II
– Diesel electric
Liberty PSV 100 100L (22 + 10 units)
– 1700T dwt
– 400 m2 deck space
– 660 m3 liquid mud
– DP II
– Diesel electric
26. 26
Focus on Shallow water
PSV Liberty 010 Maxi Utility (20 units)
1000T dwt
Liquid Mud
Bulk
DP II
Diesel electric
NEW
27. 27
Increase customer satisfaction and BOURBON cost efficiency
Independents
Contractors
Super Majors
NOCs
Safest Operations
- People: no injury
- Assets: no damage
Availability for operations
- Crew competence
- Vessel integrity
More cost optimization
- Fleet cost
- Fuel cost
Customers top
expectations
28. • Management commitment
• Efficient QHSE system
• Crew competence management
• Training on simulator
• Individual behaviour focus
28
Increase customer satisfaction and BOURBON cost efficiency
2010
Key Performance Indicator
Objectives:
LTIR: 0.00
TRIR: 1.50
2006 2007 2008 2009 Q1 2010
TRIR
LTIR
4.42
4.56
2.24
1.29
1.72
0.52
2.28
0.44
0.14
5 year HSE performance chart
Year 2010 – Q1
TRIR: Total Recordable Incident per million hours worked, based on 12 hours/day
LTIR: Total Lost Time Incident Rate per million hours worked, based on 12 hours/day
SAFETY is BOURBON’s absolute priority
0.00
29. Growth/modern fleet
Attract people
Development of professional key
skills / career management
Engagement and retention
High safety culture
Responsibility
March 2010 2015
Seamen
Shore personnel
29
Increase customer satisfaction and BOURBON cost efficiency
Leadership strategy relies on our Team
5 000 people to recruit
7 000
12 000
> 60
nationalities
30. Crew competences and training
30
Increase customer satisfaction and BOURBON cost efficiency
Surfer simulator
PSV & AHTS simulator
ROV simulator
DP Centre
More than USD 20 Million
yearly investment
Singapore
Manille Marseilles Ravena
Nigeria, Cameroun, Gabon, Congo,
Angola, Indonesia, Brasil, France
Marseilles
31. Vessel integrity equals more availability for operations
Vessel availability target: ≥ 95%
31
Increase customer satisfaction and BOURBON cost efficiency
Availability
rate %
Utilization
rate %
Workable
days
Breakdown
Drydocks
(including transit)
Idle days
(no clients)
Transit days
not paid
32. More cost optimization: fuel cost
32
Increase customer satisfaction and BOURBON cost efficiency
Time
FuelConsumption
Fuel consumption
Diesel electric
Vessel
design
Vessel
management
Customer-supplier
Joint management
Fuel Efficiency
Management
System
Improved
culture
« New tech »
vessels
New
vessels
Traditional
vessels
>25 years
vessels
New
vessels
Costs
Fuel
Costs
Costs
Fuel
Fuel
33. More cost optimization: fleet costs
Increase customer satisfaction and BOURBON cost efficiency
33
Quality & Competitive shipyard
Bourbon Liberty 200
Bourbon Liberty 100
Bourbon Liberty: 76
GPA 670: 18
Strong Partnership
Yard team of more
than 50 dedicated
people from
Bourbon
BOURBON / SINOPACIFIC: 91 vessels* delivered since 2003
P/PX 105: 8
GPA 696: 10
BL 200
GPA 670
* As per June 25, 2010
34. Drivers for reduction
Worldwide network (10 Ship Managers)
Local crews
Crew changes efficiency
Training
Spare equipment availability
Technical response team
Supplier frame agreeement
Regional market share
Running costs breakdown
34
Take advantage of large series of vessels
Others
Maintenance
Drydock
Crew costs
35. Performance indicators available each semester
Safety lost time incident and recordable incident rates
Commercial average day rates, average utilization rates
Operations fleet availability rate
Costs running cost index compared with 100 base (in 2010)
Towards leadership under the flag of excellence
35
New
New
36. Performance targets
Safety LTIR = 0 TRIR ≤ 1.5
Operations vessels availability rate ≥ 95%
Costs index reduced by 4 percents (at constant rate) by 2015
o Increasing 1% vessel availability + €22m EBITDA in 2015
o Decreasing 1% running cost + €8m EBITDA in 2015
Towards leadership under the flag of excellence
36
New
New
37. Focus on Deepwater growth and Shallow water
replacement
Invest $ 2 billion into innovative and cost efficient
vessels
Provide a full range of vessels to be a global marine
logistics services provider
Increase customer satisfaction: safe operations, high
fleet availability and customer cost reduction
Increase BOURBON efficiency and reduce costs of
operations
37
Conclusion
47. 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
EBITDA-CAPEX Disposals Net after disposals
New financing strategy
47
In million of euros
2003-2009 2011-2015
Positive cash-flows
48. China Exim Bank 400 M$ loan
Post delivery financing
60% vessel cost
12 years
48
New financing strategy
0
0,2
0,4
0,6
0,8
1
1,2
1,4
1,6
1,8
2
gearing
Financing diversification Reducing gearing from 2011 onwards
o Gearing 2015 ≤ 0.5
o Net debt / EBITDA ≤ 2
49. BOURBON 2015
49
Use of funds Source of funds
Capital expenditures 1 850 Assets disposal (**)
30
Decrease in net debt 360 Cash flows from Operations 2 740
Dividends* 560
TOTAL 2 770 2 770
2011-2015
**Assets disposal mainly in 2010
*Including minorities
50. Market risk
50
Offshore market risk
Emerging markets’ growth and economic recovery to drive oil demand
Discovery and new production rely mainly on offshore
Demand for vessels
Gulf of Mexico incident’s impact still to be evaluated
Deepwater marine services and subsea activity set to grow in the coming
years, oversupply mainly in large AHTS
Shallow water replacement market is a low risk / high growth segment
because of age profile and increased technical requirements
This new building program does not create a new threat of
oversupply
51. Market risk
51
North America
South America
West Africa
NW
Europe
Asia
MMI
Source: ODS Petrodata March,2010
Supply vessels on operation in 2010
194
170
46
244
513
125
423
171
203
140
145
195
Total supply vessels + existing orderbook + BOURBON new orders
Shallow
Deep
Deep
Shallow 1 762
BOURBON 2015 fleet‘s
share of the total
worldwide fleet
51
9%
8%
1 395
53. Financial risk
53
Low risk from shipbuilders:
75% at delivery and refund guarantee on deposit
Orders to reputable and financially strong yards
Cash flow from operations based on average utilization
rates and day rates reflecting fleet quality, market
recovery and more balanced supply demand of vessels
Disposal of assets (500 M€) and post delivery financing
(400 M$) well secured
BOURBON 2015 is based on 1 € = 1.30 $,
in 2015 +/- 1 cent of $ per € = +/- €10 m of EBITDA
54. Execution risk
54
Safety performance improved regularly for the last 5 years
98 new supply vessels successfully deployed and
operated for the last 7 years
Manpower increased 7 times to 7 000 people since 2002
while achieving high standards of operations
BOURBON benefits from proven track record and
commitment to continuous improvements
55. 475
1 610475
1750
End 2002 End 2009
55
Creating value
950
3,360
x3.4
x3.5
In millions of euros
Enterprise value
Net debt
Market capitalization
BOURBON Competitor #1
share repurchase
dividends
market cap growth
BOURBON value creation
(2002/2009)
Total Shareholders’ return
(2003-2009)
280%
M€
56. Creating value
56
BOURBON 2015 « EQUITY STORY »
Offshore revenue growth 17% yearly average
Return on Capital Employed Gross return in 2015 = 20%
Strategic positioning 600 owned vessels
Young and modern fleet
Full range of marine services
Strong regional footprint
Diversified financing and Increased yield for shareholders
positive cash flow from 2013
57. 475
1 610475
1750
End 2002 End 2009 End 2015
Creating value
57
Hypothesis
Entreprise value : EBITDA multiple 6/8
Market capitalisation : PER 12/14
> x3.5
> x2
3,360
Enterprise value
Net debt
Market capitalization
58. Conclusion
58
BOURBON 2015 provides :
17% Offshore revenue growth on average per year, improved
return on capital employed and reduced debt level by 2015
Financing of a 2 billion $ investment program benefits from
500 M€ assets disposal, payments of 75% at delivery and
China Exim Bank M$ 400 long term loan
Risks are well mitigated through potential increase of oil
companies investments, investments in innovative and cost
efficient vessels and proven execution capabilities
BOURBON 2015 value creation prospects are high
60. BOURBON 2015
60
OUR COMMITMENT SAFETY AND RELIABILITY
OUR TEAM Qualified, engaged and working as a
team worldwide
OUR TOOLS 600 modern and cost effective vessels
OUR REWARDS Customers’ satisfaction
Personnel’ satisfaction
Shareholders’ satisfaction
« Towards leadership under the flag of excellence »
62. 62
BOURBON 2015 fleet profile*
Existing fleet
12.31.2009
On order
Horizon 2012
BOURBON 2015
New buildings
TOTAL number
of vessels
Marine Services
Deep vessels 63 9 24 96
Continental vessels 52 44 50 146
Salvage Tugs 5 - - 5
TOTAL supply vessels 120 53 74 247
Crew boats 223 33 64 320
TOTAL Marine Services 343 86 138 567
Subsea Services
IMR vessels 14 13 6 33
TOTAL OFFSHORE VESSELS 357 99 144 600
*Data excluding sales/scrapping of vessels
63. Disclaimer
63
This document may contain information other than historical
information, which constitutes estimated, provisional data
concerning the financial position, results and strategy of
BOURBON. These projections are based on assumptions that may
prove to be incorrect and depend on risk factors including, but not
limited to: foreign exchange fluctuations, fluctuations in oil and
natural gas prices, changes in oil companies investment policies in
the exploration and production sector, the growth in competing
fleets, which saturates the market, the impossibility of predicting
specific client demands, political instability in certain activity zones,
ecological considerations and general economic conditions.
BOURBON assumes no liability for updating the provisional
information based on new information in light of future events or
any other reason.