grey asset management 2010 scoping document

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Page 1: Grey Asset Management   2010   Scoping Document

4/21/20101Private and Confidential

Page 2: Grey Asset Management   2010   Scoping Document

4/21/2010 2

The worlds top 20 Container Lines are looking for new creative ways to reduce operating costs while driving greater efficiencies. New schemes such as asset redeployment is starting to play a key role – by selling off assets and then leasing back improves a company's financial position and helps to maintain higher credit ratings".

THE CONCEPT

Private and Confidential

Page 3: Grey Asset Management   2010   Scoping Document

4/21/2010 3

Container Ownership

Asset Management

The Benefits to Asset Management

Private and Confidential

Page 4: Grey Asset Management   2010   Scoping Document

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Carriers will sell their container assets to the financial investors these will then be leased back at an agreed rate over a fixed period time. These leased amounts might

vary depending on the type and age of the equipment – and the capital interest payments being made.

CarrierGroup

Equipment Fleet

20 Ft Dv

40 Ft Dv

Specialized Equipment

FinancialAccounts

Owned Equipment

Financial Investment

Group

Investment portfolio

Purchase Container Fleets

IMS Ltd Container

ManagementGroup

The Bigger Picture

Private and Confidential

Page 5: Grey Asset Management   2010   Scoping Document

4/21/2010 5

IMS Ltd Container Mgt

Group

CarrierGroup

IT Technology

Network and

Comms

Experienced MGTTeam

Global Networks

Provide a Global Service to the Carriers

-IMPROVED REPORTING STRUCTURE

-REDUCED OPERATING COSTS- REDUCED STAFFING LEVELS

-NEWER TECHNOLOGY -REDUCED EQUIPMENT FLEET

-ADVANCED TECHNOLOGY- FORECASTING TOOLS

-EQUIPMENT OPTIMIZATION- EMPTY REPOSITIONING

SERVICES

CarrierGroup

CarrierGroup

CNTRFLEET

CNTRFLEET

CNTR FLEET

OWNED AND LEASED EQUIPMENT

Acquisition of owned Container Fleetsservices provided to manage the leasedEquipment. Expanded services to multipleCarrier groups – creating a larger more cost effective

pool.Private and Confidential

Page 6: Grey Asset Management   2010   Scoping Document

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CurrentLease Rates US$

Equipment Type20ft DV

Equipment Type40ft Dv

Special

Equipment

40ft RF

New DailyRates US$

0.80 1.15 6.00

ManagedService PlanUS$

0.10 0.10 1.25

Current Market Rates - Example Rates

CurrentLease Rates US$

Equipment Type20ft DV

Equipment Type40ft Dv

Special

Equipment

40ft RF

Standard DailyRates US$

0.70 0.95 5.00

DPP Plans US$ 0.10 0.10 1.25

Asset Managed Rates - Examples New Rates will reflectinterest repayment schemeplus Damage Protection Plan and the new level Management Fee Structure

Private and Confidential

Page 7: Grey Asset Management   2010   Scoping Document

4/21/2010 7

The Grey Asset Management Company - Type of Savings

Private and Confidential

Page 8: Grey Asset Management   2010   Scoping Document

4/21/2010 8

The Grey Asset Management Company - Type of Savings

Private and Confidential

Page 9: Grey Asset Management   2010   Scoping Document

4/21/2010 9

Global Size of World Container

MID-2002 MID-2003 MID-2004 MID-2005 MID-2006 MID-2007 MID-2008

DRY FREIGHT STANDARD

TEU 13,551,810 14,588,209 15,956,179 17,834,713 18,931,553 21,284,398 23,526,267

Unit 9,010,619 9,682,748 10,531,707 11,729,721 12,447,179 14,011,967 15,487,368

DRY FREIGHT SPECIAL

TEU 808,497 799,859 787,288 796,374 818,392 869,006 916,406

Unit 591,194 585,700 574,889 580,382 593,931 623,008 649,521

INTEGRAL REEFER AND INSULATED

TEU 1,018,319 1,056,656 1,152,559 1,252,261 1,325,606 1,445,322 1,617,241

Unit 600,400 615,752 662,236 709,646 742,394 799,550 886,700

TANK

TEU 149,632 157,769 164,906 173,011 179,811 191,603 199,039

Unit 147,329 155,384 162,497 170,585 177,340 189,071 196,562

TOTAL

TEU 15,528,258 16,602,493 18,060,932 20,056,359 21,255,362 23,790,329 26,258,953

Unit 10,349,542 11,039,584 11,931,329 13,190,334 13,960,844 15,623,596 17,220,151

Private and Confidential

Page 10: Grey Asset Management   2010   Scoping Document

4/21/2010 10

YEAR

FLEET

ADDITION ADDITION (%)

FLEET

REPLACED

REPLACED

(%)

WORLD

OUTPUT

END-YEAR

FLEET SIZE

MID-YEAR

FLEET SIZE

1990 415,000 7.0 390,000 6.5 805,000 6,375,000 6,261,734

1991 530,000 8.3 390,000 6.1 920,000 6,905,000 -

1992 725,000 10.5 410,000 5.9 1,135,000 7,630,000 7,472,391

1993 480,000 6.3 495,000 6.5 975,000 8,110,000 -

1994 690,000 8.5 460,000 5.7 1,150,000 8,800,000 8,535,542

1995 930,000 10.6 465,000 5.3 1,395,000 9,730,000 9,371,445

1996 820,000 8.4 470,000 4.8 1,290,000 10,550,000 10,184,309

1997 935,000 8.9 545,000 5.2 1,480,000 11,485,000 11,214,137

1998 960,000 8.4 520,000 4.5 1,480,000 12,445,000 12,036,171

1999 1,025,000 8.2 515,000 4.1 1,540,000 13,470,000 13,002,694

2000 1,405,000 10.4 525,000 3.9 1,930,000 14,875,000 14,332,452

2001 655,000 4.4 625,000 4.2 1,280,000 15,530,000 15,365,404

2002 1,030,000 6.6 710,000 4.6 1,740,000 16,560,000 16,299,852

2003 1,525,000 9.2 875,000 5.3 2,400,000 18,085,000 17,429,819

2004 1,880,000 10.4 1,080,000 6.0 2,960,000 19,965,000 18,938,231

2005 1,450,000 7.3 1,150,000 5.8 2,600,000 21,415,000 20,994,953

2006 1,920,000 9.0 1,180,000 5.5 3,100,000 23,335,000 22,252,860

2007 2,900,000 12.4 1,350,000 5.8 4,250,000 26,235,000 24,843,070

Change in World TEU Container Fleet For Period 1990-2012

Private and Confidential

Page 11: Grey Asset Management   2010   Scoping Document

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PROJECT PROFILE

2008 1,950,000 7.4 1,500,000 5.7 3,450,00028,185,00

0

27,343,71

7

2009 500,000 1.8 1,700,000 6.0 2,200,00028,685,00

0

2010 1,030,000 3.6 1,670,000 5.8 2,700,00029,715,00

0

2011 2,100,000 7.1 1,550,000 5.2 3,650,00031,815,00

0

2012 2,680,000 8.4 1,620,000 5.1 4,300,00034,495,00

0

Projected Growth in World Container Fleets

Private and Confidential

Page 12: Grey Asset Management   2010   Scoping Document

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Container Usage during its Life-Span

Containers are built to be durable since they can be exposed to all possible conditions, from tropical to sub arctic. They are also subject to potential damage when loaded, unloaded, trans shipped or carried. The lifespan of a container ranges between 10 to 15 years depending on its level of usage and the conditions it has been exposed to. A well maintained container not exposed to harsh conditions can even have a lifespan up to 20 years. Still, a container can spend on average 56% of its lifespan either idle or being repositioned while empty. This represents a non revenue generating part involving additional costs (such as warehousing and repositioning) that are assumed either by the shipping or the leasing company. Such a cost is thus part of the leasing rate. Growing trade imbalances can have a notable impact as more containers will spend additional time idle or being repositioned.

Private and Confidential

Page 13: Grey Asset Management   2010   Scoping Document

4/21/2010 13

GLOBAL CONTAINER FLOWS – 2000 – 2007

As world trade increases, so box

imbalances become a big concern - the

advanced services of the Asset

Management Company will help to off-

set these costs

and obtain better container control

over the smaller fleet

Private and Confidential

Page 14: Grey Asset Management   2010   Scoping Document

4/21/2010 14

For More Information on the Grey Asset ManagementConcept. Contact

Richard A Butcher – Sales and Marketing [email protected] Cell # - +44 0796 964 1487

Private and Confidential