PARTNERSHIP IN OCEAN FREIGHT ADVANCING TR ADE
CONTENTS YOUR PARTNER FOR OCEAN FREIGHT TRANSPORT 4 GLOBAL TRADING 6 DRY FREIGHT 8 WET, GAS AND BITUMEN FREIGHT 10 2
ADVANCING TRADE The Trafigura Group is one of the world s leading international commodity traders. With a group revenue of USD127.6 billion in 2014, the Group has 65 offices in 36 countries on six continents. Trafigura has helped transform the worldwide marketplace for international commodities. For the last two decades, we have been connecting our customers to the global economy and growing prosperity by advancing trade. TRAFIGURA GROUP ASSETS Trafigura s core business is physical trading and logistics. Our trading divisions source, store, blend and deliver oil and petroleum products as well as non-ferrous and bulk commodities. PUMA ENERGY Puma Energy is a global oil and petroleum products distribution company backed by strong infrastructural resources in over 40 countries across five continents. GALENA ASSET MANAGEMENT DT Group is a joint venture between Trafigura and Cochan Ltd. It develops markets in sub-saharan Africa, with a particular focus on Angola. It works closely with international and local partners in the logistics, trading, and natural resources sectors. IMPALA TERMINALS Impala Terminals owns and operates an international network of terminals that access markets and facilitate global trade in essential commodities. Its ports and warehouses are linked with multimodal logistics in over 30 countries on five continents. The Mining Group manages mining operations, develops projects, conducts technical audits of existing and potential partner projects and provides advisory and support services to Trafigura s trading desks, trading partners and Galena Asset Management. Galena Asset Management provides investors with specialised alternative investment solutions through its range of commodity funds. It operates independently, but benefits from the Group s insights into the global supply and demand of commodities. FR EIGH T W ET OIL AND PETROLEUM PRODUCTS TRADING DT GROU P METALS AND MINERALS TRADING DRY GROUP FR EIGH T MINING $127.6bn 5,300+ Group revenue Employees worldwide* * Average number of employees over the year. All figures are correct as of 30 September 2014, unless stipulated otherwise. 3
YOUR PARTNER FOR OCEAN FREIGHT TRANSPORT At any time day or night, Trafigura Maritime Logistics is carrying essential raw materials and commodities on its fleet of owned and chartered vessels. Trafigura Maritime Logistics is a provider of ocean freight services carrying multiple commodities on various ship types and sizes worldwide. Through the use of both time and voyage charters we are able to adjust to our customers needs and deliver a cargo efficiently and economically. CAREFUL RISK MANAGEMENT THE POWER OF INFRASTRUCTURE OPPORTUNITIES TO BUILD SCALE With over 20 years of experience as the exclusive carrier of Trafigura Group cargo, we understand the importance of a reliable freight partner when moving essential raw materials and commodities. In a world of volatile markets it is essential to mitigate risk wherever possible. Our global presence enables us to analyse freight and commodity market trends and put effective hedging strategies in place using a combination of bunker swaps and forward freight agreements. We leverage the synergies of Trafigura s investments in logistics and infrastructure, which continuously open new trade routes and product flows. Trafigura s wholly owned subsidiary Impala Terminals, owns and operates a global network of ports, terminals and warehouses in over 30 countries. Industrial investment Puma Energy sells fuel through more than 1,800 of its retail sites in Latin America, the Caribbean, Africa and Australia, and manages and owns over 80 bulk storage terminals. Taking advantage of favourable market conditions, we are opportunistic vessel owners building a fleet that supports our trade patterns and enables us to deliver a more reliable and efficient freight service. $2.0bn Gross profit (2013: USD2.9bn; 2013 like-for-like USD1.8bn) *million metric tonnes 2,350+ Shipping and chartering fixtures per year 83mmt* Wet and dry freight shipped in 2013 95mmt Wet and dry freight shipped in 2014 4
Our high standards for vessel safety and storage during the journey ensure your cargos are delivered responsibly. We apply Trafigura s Health Safety and Environment standards across our operations. RESPONSIBLE SHIPPING CERTIFICATION We require every vessel we charter to have earned at least two oil major approvals using the Oil Companies International Marine Forum (OCIMF) and Ship Inspection Report (SIRE) Programme within the previous six-month period. VETTING We use a combination of internal and external vessel vetting services to ensure that all vessels are technically suitable for the intended trade for which they have been contracted. A strict vessel screening policy makes safety a top priority. VESSEL QUALITY We have an age-limitation policy, only chartering ships that are less than 25 years old. We also make sure that all our vessels are classified by a member of the International Association of Classification Societies. We only charter double-hulled tankers for period and spot fixings. 5
GLOBAL TRADING Houston Our shipping and chartering teams are located in Geneva, Athens, Houston, Lima, Montevideo and Singapore. As a result, our coverage of freight and physical commodity markets is 24 hours. We fix vessels on spot voyage, buy/sell contracts of affreightment (COAs) and take ships on time charter from 30 days to five years anywhere in the world. 6 Lima Montevideo
70-90 Bulk carriers chartered at any given time 40-70 Tankers on time charter at any given time 12-15 LPG/LNG vessels chartered at any time Geneva Singapore KEY Freight offices Commercial offices 7
DRY FREIGHT We charter vessels for the carriage of all dry bulk commodities including coal, iron ore and mineral concentrates. Covering the freight requirements of the Metals & Minerals Division of the Trafigura Group, we are active in all vessel size classes and major trade areas. Leveraging our position in the market carrying this cargo volume, we operate a fleet of 70-90 vessels at any one time providing freight services to third-party customers including miners, traders and end users taking advantage of economies of scale to provide an efficient and economical freight service. 35mmt Dry tonnage shipped in 2014 8
Porto Sudeste, Brazil PORTO SUDESTE, BRAZIL In Brazil, Impala Terminals co-owns with Mubadala the brand new USD2 billion port facility for iron ore exporters in Ilha da Madeira, Itaguai, the iron quadrangle. The strategically positioned iron ore terminal represents the Group s largest construction project to date. Once operational, it will provide Brazil s iron ore miners with rapid and reliable access to international markets. The terminal will have the capacity to handle 50 million tonnes of iron ore per annum, with the potential to increase capacity to 100 million tonnes in the future. BURNSIDE TERMINAL, USA Acquired in 2011, Impala s wholly owned bulk storage and logistics terminal in Louisiana sources coal reliably from all major US coal basins. It offers both rail-to-vessel and barge-to-vessel capability, setting it apart from all other logistics services on the Mississippi River. Combined with a state-of-the-art blending facility, Burnside is an important strategic hub for quality-assured US coal. 50mmt* Iron ore export capacity per year 7.5mmt* Throughput capacity per year in 2015 9
WET, GAS AND BITUMEN FREIGHT We charter a range of tanker tonnage for the worldwide transportation of oil and petroleum products. We charter all vessel sizes from 2,000 to 300,000 DWT tankers. The vessels trade in every market segment, including crude, clean, dirty, LNG, LPG and bitumen. At any one time, 50-60 tankers are on time charter. 33mmt Wet tonnage shipped in 2014 Where required, we charter special-purpose vessels to store and transport LPG, butane and propane in pressurised or refrigerated containers. To support growing LPG trade, we also operate a large and rapidly evolving fleet of LPG carriers covering all segments from small pressurised barges to Very Large Gas Carriers (VLGCs). 10
Corpus Christi, USA CORPUS CHRISTI TERMINAL, USA Trafigura invested close to USD1 billion to optimise infrastructure and multimodal access capabilities at the Port of Corpus Christi, Texas. The development links domestic oil and gas supply in South Texas to growing foreign markets and includes a deep-water, high-volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter, an LPG storage complex and crude gathering facilities. CADIZ TERMINAL, SPAIN In Spain, Puma Energy s ISO 9000 and ISO 14000 certified bitumen terminal in the Andalusian Port of Cadiz, acquired in 2011, is located less than 100 kilometres from the Strait of Gibraltar. With its capacity to store and package any grade of bitumen, it is ideally positioned and well-equipped to serve as an international hub for the continued expansion of Puma Energy s bitumen business. LANGSAT TERMINAL, MALAYSIA Located at Tanjung Langsat, Malaysia, Puma Energy s bitumen terminal offers state-of-the-art bitumen processing, blending and distribution facilities. With a capacity of 74,000 metric tonnes, the new operation is the largest privately-owned bitumen terminal in South East Asia and the Pacific. The Langsat port jetty is able to handle vessels from 1,000 to 45,000 DWT. MILFORD HAVEN TERMINAL, UK Puma Energy acquired Murco Petroleum Ltd. s UK storage and distribution assets which include the former Milford Haven oil refinery and three inland terminals at Westerleigh, Theale and Bedworth. Trafigura will have the exclusive commercial rights to use the facilities. The Milford Haven refinery is one of the largest terminals currently readily available in Northwestern Europe, and it will play a key role in ensuring a secure supply of oil products for the UK and Ireland. 3m Barrels of export capacity for LPG 51,200m³ Storage capacity for bitumen 800mt/hour 8.7m Load rate Barrels of total storage capacity 11
Trafigura PTE Ltd 10 Collier Quay #29-00 Ocean Financial Centre Singapore 049315 Tel : +(65) 6319 2960 Fax : +(65) 6734 9448 enquiries@trafigura.com www.trafigura.com TE/0139.1e Trafigura Beheer B.V. and the companies in which it directly or indirectly owns investments are separate and distinct entities. In this publication, the collective expressions Trafigura, Trafigura Group, the Company and the Group may be used for convenience where reference is made in general to those companies. Likewise, the words we, us, our and ourselves are used in some places to refer to the companies of the Trafigura Group in general. These expressions are also used where no useful purpose is served by identifying any particular company or companies.