Performance assured

Group Presentation

May 2015

Performance assured

We are the world’s leading independent provider of

marine services to the commercial shipping and

cruise industries, and an increasingly important player

in the energy sector.

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V.Group History:

V.Ships was…

…founded in 1984, via a de-merger from Vlasov, a Monaco based ship owning and investment group,

to offer independent ship management to third party ship owners

V.Ships has grown…

…to become the world’s largest outsourced ship manager and is now part of V.Group, a major

provider of a wide range of marine services which include:

- Technical management and support to over 1,000 Vessels

- Personnel recruitment, management and training

- Marine services and technical support

- Ship supply chain management

- Commercial and financial services

V.Group will…

…continue to develop its core businesses, excelling in outsourced support services to help clients

ensure compliance, control costs and focus on their principle business activities

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Our Values: Partnership

“Safety has always been paramount for us across the V.Ships Group

reflected by our proven track record of HSE and LTI results.”

• Safety: in every situation as Safety always comes first.

• Teamwork: we support and learn from one another as we

give our very best

• Personalized services: our flexible, personalized services

meet our customer’s individual needs

• Creating value: we create value for our customers and in

doing so create attractive returns for our shareholders

• Accountability: we see a job through start to finish

• Transparency: we are always open, honest and clear

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Marine / Offshore

Operations Marine & Offshore

Integrated Support

Services

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Marine / Offshore Operations:

V.Ships is today the world’s largest ship management company.

V.Ships Leisure is a specialised passenger ship management company providing

services to cruise vessels, ferries and large yachts.

V.Ships Offshore delivers Offshore Technical / Operations Management and Repair

services to the Marine & Energy sector.

International Tanker Management is a specialised provider of management services to

tankers.

V.Ships Crew encompasses a broad range of activities including recruitment,

deployment, training and on-going management of officers and ratings.

Baltic Group International is specialised in recruiting from the Baltic States with particular

emphasis on the energy sector.

China International Ship Management is a joint venture with China Shipping Group for

whom it manages large container ships and tankers from Shanghai.

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UMC specialises in delivering global solutions for underwater and afloat inspection,

repair & maintenance services to the maritime industry.

Core-IRM offers an integrated range of inspection, repair and maintenance services with

a particular focus on the energy sector.

Marlins is the leading brand in training and language testing solutions for crew.

V.Delta is specialised in conversions, project management, refurbishments and energy

conservation with particular focus on passenger ships and the energy sector.

V.Ships Agency operates a global agency network from hubs in Singapore and

Rotterdam.

V.Scope Risk Management provides sophisticated insurance solutions to the shipping

industry.

SeaTec is a leading provider of maritime services, including project management,

engineering, inspections, communication, training, repair services & condition monitoring.

Marcas is an association of shipping companies, whose purpose is aggregating

purchasing volume to obtain maximum value for goods and services.

V.Travel is a leader in travel management services to the shipping and energy sector

worldwide.

Oceanic Catering is one of the world’s largest specialist marine catering companies.

Marine / Offshore Integrated Services:

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Americas

- Boston

- Houston

- Ft. Lauderdale

- Montreal

- Rio de

Janeiro

Europe

- Aberdeen

- Arkhangelsk

- Astrakhan

- Batumi

- Burgas

- Constanta

- Copenhagen

- Genoa

- Glasgow

- Gydnia

- Hamburg

- Isle of Man

- Istanbul

- Kaliningrad

- Kherson

- Klaipeda

- Limassol

- London

- Monaco

- Nantes

- Naples

- Novorossiysk

- Odessa

- Oslo

- Piraeus

- Plymouth

- Riga

- Rijeka

- Rotterdam

- Samara

- Southampton

- Split

- St. Petersburgh

- Tallinn

- Tbilisi

Middle East

- Dubai

- Fujairah

Asia / Pacific

- Cebu

- Chandigarh

- Chennai

- Delhi

- Hong Kong

- Jakarta

- Karachi

- Kochi

- Kolkata

- Manila

- Mumbai

- Nakhodka

- Port Moresby

- Shanghai

- Singapore

- Sydney

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1 2

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Worldwide Support Locations:

Strategic Partners

for West Africa

Ivory Coast

Ghana

Gabon

Congo

Angola

9 Performance assured

Cost effective solutions

for efficient

Offshore

Asset Management,

Preservation

and Repairs

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What we do:

• Our expertise is rooted in a rich marine legacy and our global

network ensures we are perfectly poised to manage your

offshore and marine assets all over the world. We provide full

life services to Fixed and Floating assets anywhere you

need us worldwide.

• We support investors, owners and operators as they navigate

the challenges of Offshore Asset Management. We currently

operate a full range of sophisticated vessels including OSVs,

Subsea Construction Vessels, dive support and

accommodation.

• We have extended our services to Preservation, Layup and

Repairs of Offshore assets FPSOs, FSOs & Rigs in situ and in

fully operating conditions with no loss of Operational time.

• The breadth and depth of our business allows you to focus on

what you do best. We’ll handle the rest.

“V.Ships Offshore is a specialized team delivering efficient and cost effective

Operations management and Integrated Repairs to contractors owning assets

on the oil and gas sector.”

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V.Ships Offshore Group Support Services:

Inspections / Under Water work /

Rope Access / Rig Leg Repairs

Engineering Support

We have competent Team that is well acquainted with Offshore Operations

and repairs, having operational Facilities under our Technical management.

The Support Services for more demanding tasks are well complimented by

our internal resources -

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V.Ships Offshore Capabilities:

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Project Management – Conversions

V.Ships Offshore capitalizes on a strong

Maritime foundation to extend our Project

Management to offshore conversions.

Our Project Management Teams are supported

by services that are provided by over 20

different brands or companies which are

grouped into four business units and supported

by a small team of Corporate staff.

“ Our Teams are well acquainted with Project Management covering Vessel

inspections for FSO / FPSO, and attending to conversions in Yards globally”

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Installation/ Lifting Arrangements new Facilities

“We have an experienced Fabrication team capable of multi tasking - that includes

Installation of new systems and Lifting / Access arrangements for the same”

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Life Extension – in situ Steel & Piping Renewal

“Production / Drilling Facilities do not have the luxury of Shut Down for

docking and repairs. Our teams are well equipped to provide alternative

solutions for this.”

Our Offshore Repair Teams have good

experience in Vessel conversions and have

carried out customised repairs offshore, for

clients on the vessels that we currently manage.

This service is extended to other clients that

have facilities coming up for life extension.

Our in-house Companies and

……. provide excellent Engineering support

under one roof.

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V.Ships Offshore has gleaned extensive

experience in maintaining the protective coatings

of vessels that we manage for owners with

excellent results.

The Maintenance regime combines the best of

customised solutions for each facility and

coatings on areas as needed.

The supply of paints through it’s procurement arm

is able to get paint and

consumables at the most competitive rates .

Life Extension – Fabric Maintenance

“Fabric Maintenance is the key to Preventative Life Extension and we have

been involved with these on operating Offshore facilities globally.”

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Life Extension E&I / Elect / Control Systems

“V.Ships Offshore has adequate experience in these Systems Upgrades well

supported by it’s in house companies.”

Our Offshore team has a wealth of experience

from designing , installing and commissioning

E&I systems upgrades for our existing client’s

facilities at great savings and in full compliance

with Class and Flag State requirements for

Offshore Units.

This is particularly interesting for life extensions

and in keeping in compliance with current

mandatory requirements.

our in-house company can assist in

more complex installations.

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Accommodation Upgrades

“V.Ships Offshore and it's partners are well positioned to provide multi tasking

teams to cater to Accommodation Repairs and Upgrades.

With accommodation repairs being a big part of

Life Upgrades, V.Ships Offshore has capitalised

on multi tasking the Steel Renewal teams to

compliment in getting Accommodation repairs

done.

This can result in considerable savings

resulting from multitask teams saving on

mobilisation and intangibles such as a smaller

familiar team working on board, contributing to

a stronger HSE record.

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Overall Capabilities

Assets Catered for:

• Anchor-Handling Vessels

• Platform Supply Vessels

• Offshore-Support Vessels

• Floating Storage and Offloading Vessels (FSOs)

• Floating, Production, Storage and Offloading

vessels

• Cable-Laying Vessels

• Subsea Construction Vessels

• Pipe-Laying Vessels

• Diving Supply Vessel

• Accommodation Work Barges

• Accommodation vessels, Flotels

• Drilling Jack up rigs, Drillships

• Heavy lift and Offshore Construction Vessels

Services Provided:

• Marine operations management

• Manpower for Rigs / FPSOs / FSOs / OSVs / Construction Vessels

• Procurement

• Travel & Logistics

• White collar / Yard / Commissioning manpower

• Asset inspection & acquisition

• Support services for hook-up and Installation

• Sea-going technical / repair squads

• Underwater repair and maintenance

• Security assessments and plan development

• Conversion and asset life extension

• Management systems / safety cases / HAZOPs

• Training solutions

• Catering and hospitality

• Agency and husbandry

• Insurance and loss prevention

• ’End of asset life’ management

“We are the partner of choice for Offshore

Facilities Management & Services….worldwide.”

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Cost Effectiveness

• As owners continue in their attempt to lower costs and balance the books, the popularity to hand

over the crewing and operating management is on the rise.

• But in the current economic climate, only the best ship managers will flourish. This is why

V.Ships’ success story is continuing to thrive.

• The world’s leading company is focused - today and tomorrow – on working with our clients,

wherever they are, to bring solutions to their ship management needs.

• There are various reasons V.Ships has such a strong foothold in the market, including our

significant global presence and the low cost operations we provide thanks to our ability to spread

overheads over 1,100 ships.

21 Performance assured

Project and Operational

Experience for our

Clients on Offshore

Facilities

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Project Experience

PROJECT - FPSO BERENT AI CLIENT – PETROF AC

• Management and active participation of the Marine

Conversion at Keppel yard, Singapore.

• Installation and commissioning of Helideck resized to

Super Puma size.

• Installation and commissioning of various Top side

equipment's including TEG, Oil separator off Gas

compression, Oil and Gas Export metering skids,

• Installation and commissioning of Various Top side utility

systems including HP and LP flare systems, Fuel gas

systems, Chemical Injection systems, Nitrogen

generation systems, Sea water cooling and Electro –

Chlorination systems.

• Installation and commissioning of various Deck

machinery including man riding crane., Installation

and commissioning of various Process control

systems, ESD system and F&G system, Installation

and commissioning of HVAC system.

• Installation and commissioning of and 12 point spread

mooring system

• Crew supervision while take over and Lay up

management

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Project Experience

PROJECT - FSO FEDERAL 1 CLIENT – PT MULTILINE

Yard Marine Supervision during

conversion.

Liaison with the Yard for Marine

Equipment refurbishment and Life

Extension.

Installation and Commissioning of

Metering skid, Man riding crane and

spread mooring system.

Complete re tubing and survey of marine

boiler.

Editing of Marine Manuals

Q&HSE.

Crew selection and recruiting.

Training.

Inspection and reporting.

Dual Class certification

Vessel Technical and Crew Management.

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Project Experience

PROJECT - FSO FEDERAL II CLIENT – FEDERAL OFFSHORE

Ongoing Yard Conversion Supervision at

ASL Shipyard, Batam, Indonesia

Liaison with the Yard for Marine

Equipment refurbishment and Life

Extension

Installation and commissioning of Super

Puma Helideck and Top side equipment's

including Import/ Export Metering Skid, Pig

receiver, API 2C pedestal man riding crane,

Deluge system, Deck oily water separator,

On-board Laboratory, chain stoppers and

spread mooring system

Installation and commissioning of Tri fuel

Boiler, fuel gas skids and Steam turbine

generator.

Revamping of Accommodation to 70 pax

capacity

Vessel Technical and crew management

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Project Experience

PROJECT –FSO MAYUMBA CLIENT - PERENCO

Management of the Marine Conversion at

Keppel yard, Singapore.

Liaison with the Yard for Marine

refurbishment and installation of Top side

equipment's.

Crew supervision during conversion

Shifting of FSO from Keppel yard,

Singapore to lay up location Galang Base

anchorage, Indonesia.

Marine equipment preservation during lay

up management.

Complete crew and technical management.

Re commissioning and shifting of FSO from

lay up location in Indonesia to oil field Gabon,

West Africa.

Active participation in Subsea connections

and commissioning of Top side equipment's.

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Project Experience

PROJECT -FSO BELIDA CLIENT – PT MULTI GROUP

Ongoing supervision of Conversion Design and

conversion supervision

Active supervision of HSE Design Philosophy

describing the performance requirements of

Safety Critical elements

Active participation in FSO design and

installation preparations including Super Puma

size Helideck, FMC Metering Skid, redesign of

Fire philosophy, Turret mooring and on-board

laboratory.

Active participation in design support for

Accommodation revamping to 73 pax,

Active participation in preparation of various

machinery refurbishment including Boiler

refurbishment and re tubing, ME

decommissioning, propeller tail shaft removal/

blanking, installation of new Caterpillar generator.

Preservation and lay up management.

Vessel Technical and crew management.

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Project Experience

CLIENT – SBM

• Lay-up / Project management

Crew Management

• Agency services at Lay-up site Consultancy

and superintendence services Bunkering,

stores and supplies

• On board routine maintenance of Valves,

panels, rotating equipment

• Underwater inspections, Repairs and

Maintenance

• Cargo Tank preservation

Accommodation preservation Engine

room preservation ( boiler’s) Painting

Campaign on deck/modules

Certification of marine equipment

• Topside preservation (subcon directly selected by

owner)

• Monthly technical reports

FPSO FALCON

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Project Experience

CLIENT – OSX

Management of the Marine

Conversion

Liaison with the Yard for Marine

Equipment refurbishment and

Life Extension

Crew supervision during conversion.

Preservation of marine equipment.

Plan approval for class approval

Management of the yard preparation

for towage.

Management of the transit to site

Management of the hook up period

prior to hand over

OSX 4 & OSX 5

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Project Experience

Takeover from shipyard after

completion of Conversion

Liaison with the Yard , Class and

project team for sea trials

Execute sea trials

Shifting of vessel from yard to layup

location

Maintain all records during trial

and operation

Hand over to owner

appointed contractor

OSX 2 CLIENT – OSX

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Project Experience

PROJECT - FSO DUTA PACIFIC CLIENT – PACIFIC RADIANCE

Conversion supervision to FSO in ASL

Shipyard, Batam, Indonesia.

Lay up management, conversion management

and shifting of vessel to oil field.

Dry dock and successful completion of 4th

Special Survey.

Installation and commission of Top

• side equipment's.

Installation and commissioning of vessel

mooring system.

Conversion of fuel tanks to dedicated MGO

tanks.

Major overhaul of critical machinery

• including propulsion and power.

Vessel Technical and crew management.

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Project Experience

PROJECT -FSU JADE PALMS CLIENT – ESSENTIAL CAPITAL

Trading FSU

Underwater inspections, maintenance

and repairs

Vessel crane modification to man

riding crane.

Cargo and ballast tanks Valve

remote hydraulic system

refurbishment and repair

Major overhaul of critical machinery

including propulsion and power.

Installation and commissioning of RO

plant

Attendance and successful completion

of various surveys.

Vessel Technical and Crew Management

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Current Operational Activity

V.Ships Offshore is currently managing the following Offshore Units in various

regions while actively preparing for new FSO and FPSO conversions worldwide.

Vessel Name Location

FSO Duta Pacific Off Terengganu

FSO Federal 1 Jambi Province, Indonesia

FSU Jade Palms Tanjung Pelappas, Malaysia

Tulja Bhavani Warri Nigeria

FSO Balida Galang Batam

FPSO Opportunity Pasir Gudang

FSO Mayumba Gabon, West Africa

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Commendations

V.Ships Offshore has been commended for outstanding work in the following cases -

For Successfully Operating FSO Slug in Libya for 10

years of continuous Operation

Exclusive Marine Operation Supplier

For Successfully Operating the FSO Federal 1

in Indonasia

For the Operation of Banju Urip project in

Indonesia

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Global Network – Local Solutions

Our Global Presence:

Your geographical demands pose no

hurdle. Whether your company’s

ambitions rest in the North Sea, Gulf of

Mexico, Norway, Far East, West of Africa

or Brazil, we have local established

infrastructure to support your business

needs.

“Our teams, located in our offices around world, are equipped to go, wherever your business takes you.”

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Contacts

MONACO :

Alessandro Ciocchi Group Director Offshore Alessandro.Ciocchi@vships.com

SINGAPORE:

Lars Modin – Managing Director lars.modin@vships.com

Sanford D’Souza – Offshore Division Manager sanford.dsouza@vships.com

Shahrukh Ismail – Offshore Fleet Manager ismail.shahrukh@vships.com

Shaikh, Khalid – Offshore Project Manager khalid.shaikh@vships.com

Nadeem Naziri – Offshore Project Engineer nadeem.naziri@vships.com