Analyst Meeting Singapore November 2007 Professionals in liquid bulk logistics www.vopak.com 1
Paul Govaart Division President Asia 2
Agenda overview: Paul Govaart 1. Vopak Asia Introduction 2. Singapore 3. China 4. Asia 5. Summary of projects 3
Vopak s presence in Asia: a unique network covering most major ports Number 1 in Asia: 20 terminals in 10 countries Employees: 1,281 Occupancy rate 1H 2007: 97% Revenues Asia FY06: EUR 121.4 mln EBIT Asia FY06: EUR 74.9 mln 4
Vopak s footprint in Asia Australia Sydney, Darwin Indonesia Tanjung Priok Singapore Banyan, Sakra, Penjuru, Sebarok Malaysia Kertih Thailand MapTaPhut Vietnam Ho ChiMinh Pakistan Karachi China Tianjin, Caojing, Zhangjiagang, Ningbo, Xiamen, Lanshan Japan Yokohama, Kobe, Kawasaki Korea Ulsan 5
Occupancy rates and capacity Occupancy rates Asia 100% 95% 96% 96% 95% 96% 98% 97% 90% 2002 2003 2004 2005 2006 1H 2007 Storage capacity Asia (mln cbm) 2008 2007 2006 2005 2004 2003 2002 0 1 2 3 4 5 6 6
Good results in Asia 150 125 100 75 50 25 0 Revenues Asia, (mln Euro) 2003 2004 2005 2006 100 EBIT Asia, mln Euro 75 50 25 0 2003 2004 2005 2006 7
Agenda overview: Paul Govaart 1. Vopak Asia Introduction 2. Singapore 3. China 4. Asia 5. Summary of projects 8
Singapore independent storage scene 6 1 3 Penjuru 2 9 11 16 Banyan 13 10 15 14 7 5 12 X 1,000,000 cbm 10 9 8 7 6 5 4 3 2 1 0 Singapore s 3rd party capacities 2005 2006 2007 2008 2009 4 8 9
Vopak Singapore Terminals Penjuru Banyan Sebarok Sakra 10
Singapore remains the petroleum HUB for Asia & Australia Forecast product balances predict continuing west to east movement, with growing role for Singapore in blending and logistic hub location Singapore largest bunkerport in the world ( 30 M ts) Singapore big refinery centre and to grow Legislative & physical environment supports trading community 11
New petrochemical complexes @ Jurong Forecast product balances predict continuing west to east movement, with growing role for Singapore in blending and logistic hub location ExxonMobil to build 1 m. C2 cracker in Singapore (US$ 4 billion) Shell s US$ 3b. petrochemical complex firmly on track Jurong Aromatics to construct US$ 2 billion refinery & Aromatics complex New downstream industries emerging 12
Expansion of Banyan Terminal Vopak Singapore Banyan Terminal 371.800 cbm 165.000 cbm 320.000 cbm 397.500 cbm 2006 2007 2008 2009 1.25 M 13
Agenda overview: Paul Govaart 1. Vopak Asia Introduction 2. Singapore 3. China 4. Asia 5. Summary of projects 14
Vopak in China Vopak present in China in the 1950 s with its former trading division In 1979 Vopak and Cosco created the first Sino-Foreign JV outside China since the Cultural Revolution Vopak was one of the first foreign companies in freight forwarding in the 1980 s in China Vopak is the first and largest international tank terminal operator in China: Tianjin Lanshan Ningbo Terminal in 1993 Xiamen Terminal in 1994 Lanshan Terminal in 2000 (acquisition) Tianjin Terminal in 2003 (acquisition) Caojing Terminal in 2004 Zhangjiagang Terminal in 2007 Nanjing Zhangjiagang Guangzhou Xiamen Shanghai Caojing Ningbo Vopak and the Vopak Joint Ventures employs 600 people and handles 6 millions MTPA with a capacity of 880,000 cubic meter in China 15
China s Oil Million barrels per day 9 8 7 6 5 4 3 2 1 0 1994 1996 1998 2000 2002 2004 2006 Consumption 2012 95.8m barrels/day World production 84m bpd (2005) Production Source: Energy Information Administration 16
Shanghai Chemical Industry Park 17
Vopak established in Chemical storage Division: Asia - Zhangjiagang Start of operations: Q2 2008 Capacity expansion: 72,400 cbm Products: methanol, PO, others Vopak China Zhangjiagang Terminal 18
Agenda overview: Paul Govaart 1. Vopak Asia Introduction 2. Singapore 3. China 4. Asia 5. Summary of projects 19
Indonesia Sumatra Kalimantan Java 20
Vopak terminal serve Jakarta area Merak Tanjung Priok 21
Vopak Jakarta Terminal Jetty Undersea pipelines Tankfarm Artist impression of Vopak Jakarta Terminal 22
Thailand China India THAILAND Vietnam Malaysia Indonesia 23
MapTaPhut Industrial Estate New DOW PTT CH I-4 Dow TOL PTT CH I-1 Oil Refinery HMC TPAC BPE ATC Bayer RRC Tank Farm Buffer tank farm Coal Power Plant Solid Bulk Port Thai Tank MTT Tank Terminal Thai Tank
Thai Tank Terminal Phase #2: 80,850 m2 Phase #3: 16,000 m2 Phase #4 : 64,000 m2 Phase #1: 125,700 m2 Pipe corridor: 63,727 m2 Jetty #1: 43,500 DWT Jetty #3 : 10,000 DWT Jetty #2: 80,000 DWT 25
Vietnam China India THAILAND VIETNAM Malaysia Indonesia 26
Vietnam s growing economy drives demand for chemical products Vietnam Real GDP (growth, y/y) 8.8 8.7 1,000 Vietnam Chemicals Imports Percentage, % 8.6 8.4 8.2 8 8.4 8 8.2 8.2 8.5 8.5 900 800 7.8 7.6 7.7 2004 2005 2006e 2007f 2008f 2009f 2010f 2011f Year 700 ' 000 mta 600 500 400 300 200 100 0 2001 2002 2003 2004 2005 2006 Year Source: Vietnam Chamber of Commerce and Industry 27
Vopak terminal in HoChiMinh, Vietnam Division: Asia - Vietnam Start of operations: Q4 2006 Capacity expansion: 40,000 cbm Products: xylene, toulene, IPA 28
India 29
India has experienced steady growth in recent years Source: Country paper from India India Chemicals & Petrochemicals Manufacturer s Association 30
India: Trade Pattern of Oil Products 600 400 200 - (200) (400) (600) (800) (1,000) (1,200) (1,400) (1,600) (1,800) Source: FACTS Net Imports Net Exports LPG Naphtha Gasoline Kero/jet Diesel Fuel Oil Other 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2010 2012 (kb/d) 31
Australia 32
Sydney - Botany Growing fuel import volume Terminal is connected to major pipelines 33
Darwin Fastest growing region in Australia Driven by mining boom 34
Agenda overview: Paul Govaart 1. Vopak Asia Introduction 2. Singapore 3. China 4. Asia 5. Summary of projects 35
Summary of projects Value of projects: Euro 363.5 million S.Korea BASF / PO- 5,000 cbm Pakistan Karachi Ethylene 10,000 cbm ZhangJiaGang Methanex / MEOH 72k cbm Lyondell / PO 11k cbm Caojing Bayer / Benzene 40k cbm Under construction Recently commissioned Announced Thailand Biodiesel 54,000 cbm Phenol 10,000 cbm Vietnam / HoChiMinh Chemicals 40,000 cbm Singapore Banyan; Phase 3 320k cbm Shell 7.5k cbm Phase 4 390k cbm Penjuru; Phase 1 22k cbm Sebarok; 216k cbm Indonesia / Jakarta Phase 1 250,000 cbm Australia Darwin 11k cbm Sydney site B 83k cbm 36
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