NAYLAMP SHIPPING COMPANY S.A.A. BUSINESS PLAN

Transcription

1 PROPOSAL FOR RELAUNCH OF THE PERUVIAN MARITIME ACTIVITY LAWS S.D MTC NAYLAMP SHIPPING COMPANY S.A.A. BUSINESS PLAN Presentation for: ALPHA & OMEGA STATIONS FUND Free translation C.P.A. Hernán Eyzaguirre Valdez - MBA naylampnavy2015@gmail.com August 2017

2 1. INTRODUCTION MARITIME TRANSPORT GENERAL CARGOES - CONTAINERS 38% LIQUID CARGOES - OIL 13% CARGAS ESPECIALES QUÍMICOS CABOTAGE RO-RO 4% NON PAKING CARGOES - BULKCARRIERS 45%

3 1.1. MAIN TARGET BULK CARGO MT / Year Bulkcarrierrs Handies or Panamax

4 1.2. BACKGROUND Merchant Peruvian, was made up of 60 ships from various specialties: Bulkcarriers, general cargo, container ships, gas, oil, chemicals, etc. Complementing its cargo demand, with the rental of ships in the form of "bareboat", allowing him to assume Peruvian crew, a large range of costs in managing the sea crossing. Today, all that power is gone and around 1,500 million Dollars a year in bulkcarriers freights, leaving the country, destined to pay to foreign companies, which makes us dependent and results in a significant capital flight, weakening our Balance of Payments, and consequently our economy.

5 1.3. STRATEGIC LOCATION La ruta más corta - Conc. de Minerales - Harina de pescado - Alimentos a granel Bolivia* Brasil* Tm Tm

6 1.4. GENERAL OBJECTIVES Laws N 28583, y D.S MTC. Private company: Relaunch of the Peruvian merchant maritime activity. Foreign shareholders capacity at maximun 49%. Tax free: Reinvested profits 80%, no IR, IGV, ISC, Customs and others. Legal condition: Capital paid 15% of Vessels value. CEO, Managers, Officers and crew, must be Peruvians. There is no cargo reserve, it is a free spot market. Fiscal benefits for Peruvian cargo users. State participation: Positive impact in the International Balance of Payments. Peruvian flag merchant fleet. Thousands of jobs.

7 2. MARKET STUDY 2.1. Peruvian cargo statistics 2.2. Draft and Vessels size 2.3. Number of Vessels 2.4. Steel and Vessel prices 2.5. Exit cargoes 2.6. Entry cargos 2.7. International freight rates 2.8. Illegal management of freight rates

8 2.1.a. PERUVIAN CARGOES +76% +79%

9 2.1.b. CARGOES STATISTICS

10 2.2. DRAFT AND SIZE Paita 13 m Salaverry 10 m Chimbote 10 m Callao 16 m San Juan 10 m Matarani 18 m Ilo 11 m Arica * 9 m

11 2.3. NUMBER OF VESSELS Total Peruvian cargoes MT, 7 voyages per year (25,000 MT each) Freights Grains food 16 2 Mt US$ 745 millions Freights fishmeal 0.8 Mt US$ 58 millions US$ 1,527 millions per year Freights minerals 19 7 Mt US$ 724 millions Hernán Eyzaguirre Valdez 209 Vessels required

12 2.4.a. STEEL AND VESSEL PRICES

13 2.4.b. NEW BUILD VESSEL PRICES

14 2.5.a. EXIT CARGOES MINERALS Total: 60 Voyages / Year

15 2.5.b. EXIT CARGOES FISHMEAL 20 Voyages / Year

16 2.6.a. ENTRY CARGOES WHEAT Total: 60 Voyages / Year

17 2.6.b. ENTRY CARGOES KORN Total: 56 Voyages / Year

18 2.6.c. ENTRY CARGOES SOJA Total: 19 Voyages / Year

19 2.6.d. ENTRY CARGOES RICE Total: 12 Voyages / Year

20 2.6.e. OTHER CARGOES Barite in bulk Iron ore in bulk Bolivian cargoes in bulk Brazilian cargoes in bulk

21 2.7. INTERNATIONAL FREIGHT RATES

22 2.8. ILLEGAL MANAGEMENT OF FREIGHT RATES

23 3. ECONOMIC AND FINANCIAL EVALUATION 4, 8 or 10, and up to 50 new Vessels

24 3. FINANCIAL INDEX 3.1. Budgeting assumptions 3.2. Capital Stock and Shareholders 3.3. Commercial Simulator 3.4. Breakeven Point in number of Vessels 3.5. Profit and Loss Statement 3.6. Cash Flow Statement 3.7. Highlights 3.8. Daily running cost 3.9. Long term debt Use of funds

25 3.1. BUDGETING ASSUMPTIONS Financing: Loan US$ 1,500 million, 5 steps; first US$ 200 million. Financial conditions: 8 years; 2 grace period and 6 repayment, 12 semestral quotas. Interest rate 3% annualy. Vessels: Newbrand Bulkcarriers between 40,000/80,000 Dwt. Vessels replacement: Each 8 or 10 years. Freights generation: 7 voyages per year. Freight rate: US$ 2 less the actual market. Cargoes: Exit with minerals and fishmeal, balast voyage and return with food grains. OPEX: Competitive DRC, lower than international market. Brokerage commision: 1.25% from freights. Pessimistic Projection: No recovery in freights neither costs.

26 3.2. CAPITAL STOCK AND SHAREHOLDERS

27 3.3. COMMERCIAL SIMULATOR

28 Buques nuevos 3.4. BREAKEVEN POINT

29 3.5. PROFIT AND LOSS STATEMENT

30 3.6. PROJECTED CASH FLOW

31 3.7. HIGHLIGHTS 25%

32 3.8. DAILY RUNNING COST - D.R.C. 25%

33 3.9. LONG TERM DEBT

34 3.10. USE OF FUNDS

35 4. GRANTS OFFERED First Naval Mortgage of Vessels. Endorsement of Insurance Policy, marine hull and machinary. 60% of Shares and Peruvian Bonds. 5 from 8 Directors, and the Chairman. Holding bank contract for 5% of each freight generated, to form a fund to guarantee the repayment of the Long Term Debt and interests. Other guarantees required.

36 5. CONCLUSIONS a) Economic and Financial viable Project. b) Peruvian cargo, ready to be transported. c) No Peruvian fleet. d) Sensitivity to number of ships, minimum 4. e) Low prices in actual market: low cost of goods, minerals, freights, costs of ships, and cost of money. Best time to buy ships.

37 GENERAL MANAGER Author and leader of the project Mr. Hernán Eyzaguirre, was: Administrative and financial manager in Naviera Humboldt S.A. Marine Management Systems for shipping companies, expouner in PH s Van Ommeren Rotterdam Holland. Evaluator for the purchase of three bulkcarriers in Citicorp, New York USA. Member of negotiation team of long term debt in Paris, with Banque de Indochine et de Suez France. Estrategic and planning manager: Peruvian glass containers factory. General manager: Benites, Mercado y Ugaz - Lawyers Bufete in Lima. General manager: Chamber of Commerce, Tacna Perú. General manager: Gobierno Regional de Tacna Perú. General accountant and external auditor of several companies. Business relaunch designer - INDECOPI Senior Project evaluator, UNOPS LIMA. Public accountant - MBA, Profesor in Peruvian Universities.

38 THANK YOU FOR YOUR ATTENTION END Hernán Eyzaguirre Valdez