Lanfranco Benedetti

Economic outlook of theMaritime SectorDevelopments in theGlobal Shipbuilding Market2012 Q1MIBE 2012 – Santiago de Compostela – SpainThis presentation is possiblethanks to SEAEurope Market Monitoring Group

SEAEurope planned deliveries (current orderbook)Data Source: IHS-Fairplay

Data Source: IHS-FairplayCHINA Shipbuilding Activity

Data Source: IHS-FairplayJapan Shipbuilding Activity

Data Source: IHS-FairplayS. KOREA Shipbuilding Activity

Data Source: IHS-FairplayWorld Commercial Shipbuilding Activity

Data Source: IHS-FairplayWorld New orders by Areas Q1

Data Source: IHS-FairplayWorld New Orders by Shiptypes

Data Source: ClarksonsWorld New Orders in values

Asian ECAs&EXIM banks filling the funding gap leftby decreased liquidities in financial marketsKorea Eximbank to provide ship financingtotalling KRW 14.55trn ($13bn) in 2012China Eximbank to provideCosco Group Yuan60bn ($9.5bn)in areas of shipping,shipbuilding, logistics.

Data Source: IHS-FairplayWorld Completions by Shiptypes

Significant increases in World shipping capacitiesOvercapacitiescaused byunprecedentedgrowth of fleettonnage2011: + 8,9%The first time the fleetis exceeding 1bn GTData Source: IHS-Fairplay

Source: Clarkson´s ResearchShip Scrap Sales

Time Charter Rates and Bunker PriceSources: Drewry; Bunkerwold; WorldBank

Societal Needs and TrendsGlobalizationIncrease of the World populationProsperity …..ChallengesMarket Trends- Managing the crisis- Future Increase of Trade Volumes- Resources (Energy, Food,Materials)- Oceans as the new outer spaceChallengesRegulatory Framework- BWC- IGF- EEDI-Noise on Board- …..Technical Developments- Large and Slow?- Safe Transport of Pax and Goods- Energy Efficient Transport-New Products for the outer space- …..RDI Addressing theChallenges

Ship Prices in major shipbuilders’ currenciesData Sources: Clarkson´s Research, www.x-rates.com

Main materials priceAlluminium price $ /tonCopper price $ /tonNickel price $ /ton

+++ Thank you for your attention +++