SEXTANT CONSULTANCY LTD

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SEXTANT CONSULTANCY LTD

• Sextant Consultancy was established in 2005
  based in London
• Kevin Harding has 30 years experience in the
  shipping industry both in the container and
  specialised reefer segments
• In co-operation with Drewry Shipping, Sextant
  issues 2 annual reports
• - Reefer/Freezer Fleet Profile published in
  February each year
• - Reefer Shipping Market Review and Forecast
  published in October each year
• For further information, please contact Kevin
  Harding
• Tel [phone]
• E Mail sextant_at_f2s.com
• www.sextant.uk.com

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The Future of the World Specialised Reefer Fleet

• History
• Current Status
• Reefer Container Vessels
• Cargo Flows
• The Future

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Specialised Reefer Fleet DevelopmentJan 1999 to
Jan 2008(100,000 cu. ft. vessels)
Source Sextant Consultancy Ltd
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Specialised Reefer Fleet Today(vessels greater
than 100,000 cu. ft.)

• As at October 2008, there are 774 specialised
  reefer
• (non-freezer) vessels above 100,000 cu. ft.

Source Sextant Consultancy Ltd
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The Container Vessel Fleet

• As at mid 2008 there were in excess of 4,500
  container vessels
• The average size of these container vessels is
  2,500 teu of which approximately 325 teu is
  available for reefer cargo
• The reefer capacity of the existing container
  vessel fleet is equivalent to 1,473 million cubic
  feet
• The current under-deck capacity of the existing
  specialised reefer fleet (vessels above 100,000
  cu. ft.) is 265 million cubic feet

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New Buildings(as at mid 2008)
Source Sextant Consultancy Ltd
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Age Profile Specialised Reefer Fleet(age as at
January 2008)
Source Sextant Consultancy Ltd
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Specialised Reefer Scrapping(vessels greater
than 100,000 cubic feet)
Source Sextant Consultancy Ltd
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Forecast Specialised Reefer fleet(vessels
greater than 100,000 cubic feet)
Source Sextant Consultancy Ltd
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Estimated Seaborne Perishable Reefer Trade 2000
to 2015
Source Sextant Consultancy Ltd
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Modal Split in 2007

• In 2007, the estimated modal split was
• Specialised Reefer 46.0 (35.5 million tonnes)
• Reefer Containers 54.0 (41.7 million tonnes)

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Estimated Future Modal Split

• There is insufficient specialised reefer capacity
  to continue to lift current percentage market
  shares and current cargo volumes
• 2007 Capacity 803 vessels
• Total Cargo 77.2 million tonnes
• Specialised Reefer Cargo 35.5 million tonnes
  46.0
• 2010 Capacity 747 vessels
• Total Cargo 86.5 million tonnes
• Specialised Reefer Cargo 35.0 million tonnes
  40.3
• 2015 Capacity 642 vessels
• Total Cargo 108.8 million tonnes
• Specialised Reefer Cargo 32.0 million tonnes
  29.3

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Forecast Modal SplitSpecialised Reefer versus
Reefer Container
Source Sextant Consultancy Ltd
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SUMMARY

• The specialised reefer industry will be around
  for decades to come BUT
• There will be a reducing number of specialised
  reefer vessels
• Specialised reefer vessels percentage market
  share will continue to reduce
• Specialised reefer vessels cargo tonnage will
  now start to reduce
• Pressure on specialised reefer rates is likely to
  continue to be high and can only be affected by
  matters outside the direct control of the
  specialised reefer industry itself
• Reefer container industry
• Climatic conditions
• Global economy
• Carbon footprint

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SEXTANT CONSULTANCY LTD

• PUBLISHED THIS MONTH
• Reefer Shipping Market Review and Forecast -
  2009
• For further information, please contact Kevin
  Harding
• Tel [phone]
• E Mail sextant_at_f2s.com
• www.sextant.uk.com