Maritime developments in Morocco Marco Rensma MEYS Emerging Markets Research November 15, 2013

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1 Maritime developments in Morocco Marco Rensma MEYS Emerging Markets Research November 15,

2 Index Company profile Modernising fishing fleet Maritime developments Morocco Dutch maritime sector in Morocco Expansion program navy Morocco

3 Company profile Performing market research in emerging markets of Europe, Africa and Asia: Hungary Morocco (office) Romania West Africa Turkey (partner office) Vietnam Market research for B2B and B2C: Desk research Business environment (macro, meso, micro) Potential market demand Competitor analysis Public tenders Finding potential clients Market entry strategy Marketing strategy (marketing mix) Field research (local): Face-to-face/ Group interviews Online surveys Telephone surveys Partner Turkey Desk (Fenedex) and Handelshuis Nederland - Marokko

4 Examples assignments Market research construction & real estate Morocco Market research maritime sector Turkey Market study West Africa Market research metal sector China Guest lectures Vietnam Guest speaker Romania

5 Large public and private investments Modernising fishing fleet 5

6 Plan Halieutis Large contribution fishery sector to Moroccan economy: Market size fishery: 5.2 billion dirham in 2012 (estimate MEYS %) 50% export turnover agricultural sector 10% total export turnover Morocco One of the largest fishery sectors in Africa, but aged vessels and port facilities Main targets plan Halieutis: Triple contribution fishery sector to GDP by 2020 (+1.3 billion euro) Double direct employment to persons (indirect approx. 0.5 million persons) Triple export volume fishery products 50% increase in production fishery sector 6

7 Modernising fishing fleet Size fishing fleet (2010): 450 sea going vessels coastal vessels canoes Ibhar 1: billion dirham (450 million euro) investments of which 20% by the State (subsidies), 60% bank loans and 20% private investments Slow progress of the program due to lack of enough (financial) support by the Moroccan government, specifically for small local fishermen Ibhar 2: billion dirham (450 million euro) investments of which 20% by the State (subsidies), 60% bank loans and 20% private investments Modernising small fishing vessels (10.600) program Mawarid -> financial contribution 50-80% of the investment Modernising larger ( 1.270) fishing vessels for high seas -> two programs Anbar and Bahara Replacement 389 older fishing vessels; wooden structures program Safarin (max. 20% investment contribution), and steel/polyester structures program Tajhiz (max. 30% investment contribution) Strong involvement local maritime chambers Status Ibhar 2 October 2013: 17 vessels, 10 million dirham investment subsidies 7

8 Competitors Dutch maritime sector «Une délégation de la CNPC (Confédération Nationale de la Pêche Côtière) en visite en Turquie pour étudier la modernisation de la flotte de la pêche côtière» Source: Maritime News Maroc, July 3rd 2013 Morocco Turkey France* United Kingdom Spain* Russia * Already involved in an initiative for the development of the fishery setor in the region Tan Tan (Océanopôle Tan Tan) 8

9 Main actors Moroccan fishery sector Ministry of Agriculture and Fishery Ministry of Finance Office National des Pêches (ONP) Chambre des pêches maritimes 9

10 Shipbuilding larger vessels outside Morrocco Maritime developments Morocco 10

11 p Demand mainly for tug boats Strong growth cargo throughput due to port expansion is main demand stimulus for new tugs Deliveries newly built vessels Morocco by type Cargo throughput ports Morocco (x tons) % % 19% 11% 59% Tugs Container Tanker Passenger Other Source: Clarkson; compiled by MEYS Note (p) prognosis MEYS Source Ministry Transport & Logistics 11

12 Main Moroccan clients new vessels Merchant fleet Morocco by owner (number of vessels)* ODEP (port authorities) Societé Cherifienne (chemical) IMTC (liner)** DRAPOR (dredging) Offshore Maroc SA (transport) COMANAV (liner) Somagec (port development) Other Note: (*) excl. marine; ** IMTC in big financial trouble Source Clarkson; compiled by MEYS 12

13 Shipyards in Morocco Main focus on building & repairing fishing vessels Chantier Naval de l Afrique (Tan Tan): Founded in 1984 Part of Groupe Ominum Marocain de Pêche (OMP) Building primarily fishing vessels for OMP Chantiers et Ateliers du Maroc (Casablanca): Founded in 1944 Surface shipyard m2 (7.000 m2 workshops) Yard capacity for vessels up to tonnes Primarily repair & maintenance (fishing) vessels Chantier Naval Agadir Founty (Agadir): Founded in 2002 Building and repairing mainly fishing vessels 13

14 Development new shipyard in port of Casablanca Not enough local production capacity for realizing Ibhar 2 At the site of former shipyard Chantier Naval de l'atlantique Port authority ANP has initiated an international tender (July 2013) New shipyard will focus on repair/maintenance of smaller vessels (a.o. cargo, fishery) Other plans for development local shipbuilding industry: Total investment budget million dirham (approx. 7 million euro) Upgrading shipyards ports of Kenitra, Agadir, El Jadida, Essasouria (43 million dirham) Expansion shipyards ports of Safi and M diq (35 million dirham) Feasibility studies through tenders of ANP Upgrading shipyard Expansion shipyard 14

15 DUTCH MARITIME SECTOR IN MOROCCO

16 Netherlands Vietnam Germany Spain Turkey Others The Netherlands main builder country Deliveries by builder country * (number of deliveries) Note: (*) untill August 2013 Source: Clarkson; compiled by MEYS

17 Dutch deliveries mainly tugs Builder Type of vessel Number Client Year Damen Shipyards Tug boat 2 Offshore Maroc SA 2013 Damen Shipyards Marine frigate 3 Marokkaanse marine 2012 Damen Shipyards Tug boat 2 Fedala Tug, J.L.Tug 2012 Damen Shipyards Tug boat 3 Boluda Tanger Med 2007 IHC Beaver Dredgers Dredger 1 DRAPOR 2003 Damen Shipyards Tug boat 1 Societe Cherifienne

18 Growing demand new navy vessels Expansion program navy Morocco 18

19 Current size navy Morocco: 2 frigates, 1 corvette and 21 patrol and other navy vessels Due to her strategic location in Northern Africa, increasing demand for new navy vessels a.o. submarine and fast patrol vessels and upgrading/modernising existing navy vessels Expansion navy Morocco Type Number Builder Country Year Order (euro) Patrol boat 5 Raidco Marine France Refit Offshore patrol vessel 4 Raidco Marine France ? -- Frigate 3 Damen Shipyards Netherlands million Frigate 1 DCNS France million Submarine 1 Rosoboronexport Russia???? 19

20 Thank you for your attention Marco Rensma Mob.: +31 (0) Website: 20