GESMAR GROUP. History

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1 GESMAR

2 Mission The Group s main activity is the supply of towage services and safety cover including escort tug, fire fighting, salvage and marine pollution control. Its mission in this sector has always been to create a flexible organisation capable of promptly fulfilling requests for these services, with a low unit cost. The Group provides towage services for more than 30 port and offshore terminals including container terminals, oil, gas and chemical terminals, grain and bulk cargo terminals and FSO s (Floating Storage and Offloading). Even in situations where it holds an exclusive towage concession of medium-long term duration (as is customary in the sector) the Group has always succeeded in maintaining an organisation that can offer the best services at the most competitive prices.

3 GESMAR History The Gesmar Group was founded by Neapolitan ship owner Eduardo Vitiello who went into towage in the early 1980 s with the takeover of S.E.R.S. Srl which was then supplying tug services in the port of Ravenna. In 2005 Gesmar signed an important agreement with Setramar, a group controlled by the Poggiali family. Today the Group is owned by two family-controlled companies with interests in shipping, trading of raw materials and Port Terminals (together they are the biggest conglomerate of Bulk Cargo Terminals in the Mediterranean Sea). The main office is located in Ravenna. Gesmar Group provides towage and related services, including Harbour towage, Offshore terminal towage, Ocean Towage, Salvage, Marine pollution control, Escort tugs. The Group, through a number of group companies, provides towage services in ten Italian ports, towage services and safety cover including tanker escorting and firefighting at four off-shore terminals in Italy. It also provides salvage services throughout the Adriatic sea and marine pollution control alone or together with the Castalia Consortium - along the entire Italian coastline (islands included). Today, the Gesmar Group is by far the largest towage operator in the Adriatic Sea and, despite remaining a family-controlled company, is characterised by a dynamism which rivals and even surpasses that of the major international players in the sector. The current objectives of the Group include gaining a leadership position in Mediterranean towage, whilst continuing to drive forward expansion into South and Central America and the Middle East.

4 F i e l d s o f Harbour Towage Services The predominant activity of the Group is the provision of harbour and offshore terminal towage services. The Group provides towage services in 10 ports, to all types of terminals including Container Terminals (Trieste Marine Terminal, Ravenna Container Terminal, Ancona Merci Container Terminal), Oil Terminals (API Refinery Ancona), Gas and Chemical Terminals (Gruppo P.I.R. Ravenna), Grain and Bulk Cargo Terminal (Setramar, Lloyds Ravenna, Docks Cereali Ravenna, Enel Carbon Terminal Ancona) just to give a few examples in the Adriatic Sea. The mission of the Group in the harbour towage sector has always been to create a flexible organisation, able to fulfil requests for towage services promptly and with a low unit cost. Harbour towage at Ravenna Grain Terminal

5 A c t i v i t y Offshore terminal Towage services GESMAR The Group provides towage services and safety cover, including firefighting, oil pollution control and tanker escorting to various offshore terminals and refineries: Falconara SPM, offshore terminal I.V.F. (Isola Vecchia Falconara) and API oil terminal Offshore Single Point Mooring ad offshore terminals operated for the refinery of API SpA. Operation commenced in 1984 Tanker size up to 180,000 dwt Towage service ad assistance to oil tankers at SIOT terminal (TRIESTE) Trieste offshore oil terminal. Operated by S.I.O.T. (Società Italiana per l Oleodotto Transalpino S.p.A) Operation commenced in 1964 Tanker size: up to 215,000 dwt FPSO in Rospo Mare Field Operated by EDISON GAS S.p.A. Operation commenced in 1993 Tanker size: up to 40,000 dwt Tanker and FPSO Assistance at Rospo Mare field (Termoli) S.O.N.E. Terminal offshore Ravenna Operated by ENEL for the Power Station of Porto Tolle Operation commenced in 1986 Tanker size: up to 75,000 dwt In addition some of our tugs with Bollard Pull between 70 and 80 T BP operate on the spot market in the Mediterranean Sea for tanker assistance operations, safety cover and Oil Rig Moving for various Companies such as: ENI Group, Saipem, DIDON Tunisia and SAIPEM SpA. Towage service during SPM operation at Falconara (ANCONA)

6 F i e l d s o f Ocean Towage Since it was first established, Gesmar Group has always endeavoured to develop ocean towage, salvage and off-shore services simultaneously. With a forward-thinking strategy, the company opted to invest in port-size tugs that also had the capability, in terms of power and bunkering capacity, to perform ocean towage, off-shore services and salvage operations. We believe that a certain degree of flexibility in naval construction is of the utmost importance. Ocean towage of an off-shore structure Ocean towage of a gas-platform module

7 A c t i v i t y Salvage and Marine Pollution Response GESMAR Gesmar has a solid, decades-long experience in salvage and marine pollution response. The Gesmar Group has direct experience in salvage operations from 2006 to 2010 it carried out a number of important salvage operations. Through its participation in Consorzio Castalia, Gesmar has also taken part in a number of important salvage and marine pollution response operations. Consorzio Castalia, of which Gesmar is one of the founding members, and one of the majority shareholders, brings together a number of Italian shipping companies working in the environmental field. Consorzio Castalia is today the single most active company in the prevention and remediation of marine pollution in the Mediterranean. During recent years Consorzio Castalia carried out three of the most important salvage/pollution response operations in the Mediterranean. The SPICA tug during antipollution manoeuvres and salvage of MS Und Adriyatik

8 F i e l d s o f Escort Service Ship escort and pollution response services have an important social contribution. However, they are also associated with high costs which the community is often, misguidedly, unwilling to meet. With its 5000 HP Voith-Schneider vessels, Gesmar Group has sought to construct harbour towage tugs (with the requisite compact size) that are also capable of providing an escort service for high tonnage ships. Our escort tugs are among the very few vessels in the world certified as escort after actual trials carried out using a motor tanker. Use of escort tug services in the Mediterranean has been hampered because the undoubted safety advantages are more than offset by the high costs involved in dedicating a tug exclusively for this purpose. Escort tugs built by other companies in this sector are in fact of a considerable size (over 40 metres), and are unable to perform other services. Gesmar Group is of the opinion that the escort tug should continue into the port along with the ship, where it can then also carry out harbour towage, taking advantage of the line already attached the ship. However this is only possible if the tugboat is of a sufficiently compact size. Doubling up the functions of the tugboat in this way makes the cost of the service absolutely competitive, while greatly enhancing safety. The LUCA Tug during Escort service in Maracaibo

9 A c t i v i t y Quality Safety Environment GESMAR Gesmar is certified for: UNI EN ISO 9001:2008 UNI EN ISO 14001:2004 BS OHSAS 18001:2007 ISM CODE as per SOLAS CONVENTION on voluntary basis The highest priority is given to personal safety and safe operation of our tugs. Our Company motto states Safety for Everyone, Everywhere, Everyday reflecting top management s commitment to health, safety, prevention and environmental protection. The core elements of our Management System are outlined in the integrated quality, environment and safety management system manual which fully integrates requirements concerning Quality Assurance (ISO 9001), occupation health and safety (BS OHSAS 18001) and Environmental Protection (ISO 14001), and that is today part of our business culture. Given that safety is of primary importance to the Gesmar Group, the Company has implemented a safety management system on a voluntary basis with the aim of constantly improving workers health and safety.

10 The Fleet Details of our Fleet Name Year BHP bollard pull (tons) Details RIGEL x Schottel ASD - FiFi2 FRANCESCO PAOLO x Voith Schneider FiFi1 EUGENIA x Voith Schneider FiFi1 DAVIDE PRIMO x Aquamaster ASD FiFi1 NEVOLA Twin fixed propeller ESINO x Aquamaster ASD FiFi1 SPICA x Lips ASD FiFi1 ECOELBA Twin propeller ECOGIGLIO Twin propeller CRISTINA ANTONIA x Voith Schneider FiFi1 EDUARDO JUNIOR x Voith Schneider FiFi1 SAN CIRIACO x Aquamaster ASD FiFi1 ALTAIR x Voith Schneider FiFi1 LUCA x Voith Schneider FiFi1 EDUARDO PRIMO x Voith Schneider FiFi1 TAUR x Voith Schneider FiFi1 CITTA' DI ORTONA x Caterpillar twinn screw fixed propelles CORIGLIANO x Caterpillar twinn screw fixed propelles VEGA x Lips ASD FiFi1 CITTA' DI CROTONE x Caterpillar twinn screw fixed propelles DENEB x Voith Schneider ESPADA ,5 2 x Voith Schneider DORADO ,5 2 x Voith Schneider RICCARDO screw variable pitch propeller ALESSANDRO SECONDO screw variable pitch propeller CONERO fixed pitch propellers FORTITUDO screw variable pitch propeller MIZAR controllable pitch single screw MISA PRIMO x Promac variable pitch propellers GECO x Promac variable pitch propellers BELRORIE controllable pitch single screw CITTA' DI RAVENNA variable pitch propeller single screw PICCHIO fixed pitch propellers ORESTE TURCHI x Voith Schneider GATTO x Voith Schneider GRIZZLY N.A. Fast support intervention vessel NB N.A. Fast support intervention vessel NB N.A. Fast support intervention vessel ARAXI N.A. Crew-boat - Fast support unit MARFIN QUARTO N.A. Rec-oil vessel JERZY N.A. Rec-oil vessel ALCIDE N.A. Rec-oil vessel

11 GESMAR The table overleaf summarises the Gesmar Group company structure. Some of the companies forming part of the Group were originally established in the 1950s. Tripmare (formerly Tripcovich) started its operations in Trieste over 100 years ago. SERS 100,00% Harbour towage in Ravenna Ocean towage Antipollution service Escort towage CORIMA 97,74% Harbour towage Off-shore towage in Ancona, Falconara STERS 95,00% Off-shore assistance to FPSO Termoli POSEIDON 100,00% Harbour towage in Crotone, Cirò Marina, Corigliano Calabro SERS OFFSHORE 50,00% New co.towage to LNG Terminal CORPORATION MARITIMA SAGITARIO 100,00% Harbour towage, escort service Venezuela and Caribs TRIPMARE 50,00% Harbour towage in Trieste TRIPNAVI 50,00% Ocean towage, antipollution service Adriatic sea LABROMARE 100,00% Port environmental services - Livorno CASTALIA CONSORTIUM 16,67% Marine pollution response

12 - stampato su carta ecologica GESMAR RAVENNA Gesmar Spa / SERS Srl Administration Via Di Roma, Ravenna Ph Fax [email protected] Skype: gesmar_group Operative/Commercial Via Marmarica, Marina di Ravenna Ph Fax [email protected] Skype: gesmar_group_op Pier Ph Fax [email protected] ANCONA CO.RIM.A. Spa Via Enrico Mattei, Ancona Z.I.P.A.Ph Fax [email protected] TRIESTE Tripmare Spa Via Felice Venezian, Trieste Ph Fax [email protected] LIVORNO Labromare Srl Operation department Ph Fax [email protected] Emergency: ROME Castalia Consortium Head Office Via Cornelio Magni, Roma Ph Fax Emergency: VENEZUELA Corporation Maritima Sagitario S.A. Av. Venezuela Centro Comercial El Recreo Torre Sur Piso,7 Oficina 7-6 Sabana Grande Caracas 1050 Venezuela Ph Fax [email protected] Cap. Ubaldo Santarelli Mobile Brasil: Mobile Venezuela: [email protected]

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