Presentation - Investor Relations - Tanker

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Outlook: SupplyMedium Range 1 Product Tanker Deliveries/Scrappingm.dwt14.012.010.08.06.04.02.00.0m.dwt14.012.010.08.06.04.02.00.01.06.312.011.84.69.80.1 0.4As at Dec‟080.3 0.5Net forward growth declining. Insignificant new ordersplaced in 20095.95.4As at Dec‟092010 2011 2012Phase outOrderbookNet Fleet GrowthPhase OutOrderbookNet Fleet Growth2009 2010 2011 20121.01.0• Not all ships orderedfor 2009 have in factbeen delivered. In thisrespect is significantthe question whetheror not financing hasbeen secured forforward deliveries!•April 2010 is thedeadline for the IMOphase out of theremaining single hullvessels from theinternational trade.There is speculationthat some ships will beable to avoid thisdeadline since theycould be used fortrading, coastwise orfor storage. This is apossibility however webelieve the figure willbe not meaningful• Scrapping of Tankersin 2009 and year todate has now overtakentotal for 2008 byalmost fifty percentaccording to RS Platou23 1. MR product tankers ranging from 25,000 to 55,000 dwt. Source: Clarkson Research Services
Outlook: SupplyMedium Range 1 Product Tanker DeliveriesOrderbook vs deliveries MR Tankers - 2008250200150100500Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecOrdered DeliveredOrderbook vs deliveries MR Tankers - 2009300250200150100500Jan Feb Mar Apr May June July Aug Sep Oct Nov DecOrdered Delivered24 1. MR product tankers ranging from 25,000 to 55,000 dwt. Source: Clarkson Research Services• A number of shipswhich were scheduled tobe delivered in 2009,considered one of thebiggest delivery years inrecent history, did notoccurred and furthermore and from will not bedelivered not even in2010 . This happeneddue to the fact that theyhave been deferred,delayed, cancelled orconverted into a differentship type/size• The number of Ships inthe 25-55,000deadweight segment thatwere “not Delivered” in2009 according to SSY,Clarkson‟s, and ICAPShipbrokers runs between25 and 30 percent• However with such arelatively largepercentage we believe itis safe to assume acertain amount of thesedeliveries have in factbeen cancelled, theoptions never declared orwrongly reported in firstplace
Page 3: AgendaHighlightsMarco FioriProduct
Page 7: GLENDA JV: STREAMLINING OF THE KEYP
Page 12 and 13: FY and Q4 2009 Financial Results•
Page 14 and 15: Key Operating MeasuresKey Operating
Page 16 and 17: Net Debt and Cash Evolution in FY
Page 18 and 19: Financial ratiosGearing (%)48.5%Ind
Page 20 and 21: AgendaHighlightsProduct tanker mark
Page 22 and 23: Capex PlanCapital Commitments(US$ t
Page 26 and 27: Outlook: DemandGlobal Oil Demand (2
Page 28 and 29: Vegetable Palm Oil Business80706050
Page 30 and 31: DIS‟s response for 2010• 2009 p
Page 32 and 33: 31Appendix
Page 34 and 35: d‟Amico‟s Group StructureHoldin
Page 36 and 37: DIS‟ Current Fleet Overview (cont

Presentation - Investor Relations - Tanker

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