Dual Fuel Container Feeder

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1 Dual Fuel Container Feeder Europe s first dual fuel short-sea container ships PKF maritime, Hamburg 22. Januar 2014 Dr. Rowil Ponta, Managing Director Nordic Hamburg

2 I. Introduction Executive Summary Container Shipping 2015 Project Concept Joint cooperation for realising TEU ultra-modern dual-fuel container project Collaborative conception and optimisation of vessel s design LNG operated vessels to substitute existing tonnage in Emission Control Areas (ECAs) by 2015/2016 Motivation For Containerships Oy: Securing the vessel needed for future cost effective trading in Europe Participation in the newbuild project at an early stage high influence on vessels features For GNS / Nordic: Long term employment of a new building project Diversification of the existing fleet by developing a business sector with sizeable growth potential For Bank & Investors New project with secured and predictable cash flows through long-term employment Moderate Leverage Interesting upside potential (historically low asset prices for ultra modern vessels) Growth potential through diversification within LNG shipping sector In the global world of container shipping it remains essential to understand the requirements of each market segment. 2

3 I. Introduction ECA Zones are New Market Segments SOx NOx MARPOL Annex VI, Reg %S in ECA applicable from Jan-01, 2015 MARPOL Annex VI, Reg. 13 Tier III in ECA applicable from Jan-01, 2016 CO2 MARPOL Annex VI, CH. E (Res. MEPC. 203(62)) EEDI applicable since January 1, 2012 Various other environmental regulations in force and / or under discussion. 3

4 II. Business Case - The ECA in the Baltic and North Sea is a game changer for ship owners and charterers - The ECA results in a significant cost increase for seaborne transport creating a push for alternatives to the traditional HFO - LNG is the alternative to liquid fuel for marine transport The engine technology and the LNG are available Significant reduction of bunker costs Lowest possible emissions Reduced costs in ports and other ancilliary benefits Tier III compliance No residuals, no disposal requirements GNS / Nordic together with Containerships OY, Finland leading the drive to shift the Baltic container trades to LNG driven vessels. 4

5 II. Business Case Typical Operating Profile Assumptions: Speed: 17kts / 7kts on Elbe & Kiel Canal Total NM: nm Price MDO: 530 USD per mt Price LNG: 421 USD per mt Duration: 12,5 days (incl. port stays) 5

6 II. Business Case Fuel costs per round voyage LNG vs. MGO TEU - old design- Δ abt USD per voyage (12,5 days) TEU - LNG design ,5 days round voyage TEU old design TEU LNG design LNG Consumption (mt) - 159,3 MGO Consumption (mt) 241,4 3,7 Bunker Costs (USD) , ,07 Price MGO: 530 USD/mt; Price LNG: 421 USD/mt 6

7 III. The Vessel Anmination 7

8 II. The Vessel Main Particulars Type Length OA Breadth Design / Scantling draft Nominal container intake Container intake (14 t. hom.) TEU Dual-Fuel Containervessel 169,95 m 26,70 m 8,50 m / 9,25 m pcs pcs. 45 Container intake 631 pcs. Reefer plugs Deadweight 372 pcs tdw Shipyard/delivery Guoyu Shipyard, China / 2016/17 8

9 III. The Vessel Key Features Eco design, high efficiency due to slow-speed two-stroke engine Capable of burning HFO, MDO and Liquified Natural Gas (LNG) Equipped with bow- and stern-thruster for excellent maneuverability without tugs Hydraulic hatch covers High cargo intake compared to other feeder tonnage Outstanding flexibility - 20, 30, 40 and 45 intake in all holds 9

10 Aktuelle LNG Projekte

11 IV. LNG as a Marine Fuel Challenges & Opportunities LNG infrastructure (terminals, bunker facilities) LNG engine technology (low pressure vs. high pressure concept) LNG handling and operations (regulations and procedures) Political factor of LNG supply LNG pricing and price development Cooperation between makers, shipyards, owners, operators required Investment model Conversion of substantial parts of maritime trade to LNG propulsion! 11

12 Thank you very much for your attention! Dr. Rowil Ponta Nordic Hamburg GNS Shipping Cremon Hamburg - Germany Tel Fax

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