Euronav and Capital Markets - a successful partnership Paddy Rodgers, CEO Marine Money Wednesday June 17th 2015 All illustrations are the property of Euronav not to be reproduced without permission
Shipping hasnt changedalways been capital intensive Picture property of Euronav not to be reproduced without permission 2
it remains cyclical.. 3
like a rollercoaster.. 4
How life used to be for a publicly quoted shipowner 5
How life used to be for private shipowner 6
How life used to be capital intensive but funding was easier 7
but the financial crisis changed everything 8
Bank lending to Shipping before the financial crisislarge 9
Bank lending to Shipping today a different story 10
Mind the (Funding) Gap Source: Clarksons Marine Money, Hamburg 2014 (* 2014 Year to November) 11
So what do we need to do and what has Euronav done 12
1 Groundhog day DO NOT ORDER new ships 13
2 Capital markets MUST be rewarded 14
3 Focus on ABSOLUTE returns 15
4 Transparency 16
5 Attention to detail 17
6 Liquidity 18
7 Pooling or commercial consolidation - benefits of Pooling 19
8 Consolidation any consolidation must be disciplined 20
Euronav and Capital markets a marriage so good we did it twice 21