SAMSUNG C&T

Middle East, 1 unit of Floating Storage Unit This 2.2 million barrels Floating Storage Unit (FSU) for Middle East owner is the largest and the first contract that Samsung C&T served as the main contractor We also provided an offloading facility, to be deployed at an oil field located in the Persian Gulf for an oil company. Samsung C&T played a key role as the main contractor with full responsibility and put out work to STX O&S for vessel supply. Following the tender floated by the oil company, the contract was finally established in September, 2008. The construction of the vessel with an overall length of 335 meters and 2.2 million barrels of storage capacity was launched by STX Dalian in May 2010, and the output was delivered to the site in June 2012. Vessel operation is expected to begin in the second quarter of 2013. With volatile political situation surrounding Middle Eastern countries, many challenges and barriers came in the way of successful completion of the project. Samsung C&T however demonstrated its true value with management capability accumulated from experience with strong creative touch. As the main contractor, Samsung C&T also placed strong priority on vessel quality.

Shipfund (primary) - 2 units of 180K Bulk Carrier This bulk carrier project is a Samsung C&T's first organizing project using ship fund and we serve as the shipbuilding broker and investor to the fund. As a catalytic investor, Samsung C&T has formed a ship fund together with other suitable partners including institutional investors with private equity fund (primary and secondary ship investment projects) or individual investors with public offering (tertiary ship investment project). The ship fund provides loans to the special purpose company (owner) which purchases newly-built bulk carriers from Korean or foreign shipyards. The vessels have been chartered out to world leading charterers such as Hyundai Merchant Marine of Korea and Cargill International of Switzerland, for five to ten years maximum, and will be sold to the charterer when the contract comes to an end. During the past several years, Samsung C&T and other investors have enjoyed stable revenue stream such as dividend and capital gains, and at the same time the charterer can expand their fleet at a very competitive cost.

Shipfund (secondary) - 2 units of 82K Bulk Carrier Samsung C&T organizes the entire project, invests in the ship fund and also serves as shipbuilding/chartering/shipsales broker. As a catalytic investor, Samsung C&T has formed a ship fund together with other suitable partners including institutional investors with private equity fund (primary and secondary ship investment projects) or individual investors with public offering (tertiary ship investment project). The ship fund provides loans to the special purpose company (owner) which purchases newly-built bulk carriers from Korean or foreign shipyards. The vessels have been chartered out to world leading charterers such as Hyundai Merchant Marine of Korea and Cargill International of Switzerland, for five to ten years maximum, and will be sold to the charterer when the contract comes to an end. During the past several years, Samsung C&T and other investors have enjoyed stable revenue stream such as dividend and capital gains, and at the same time the charterer can expand their fleet at a very competitive cost.

Senegal Maritime Infrastructure Establishment Project This project is to construct two car/passenger carriers, two terminals and two wharfs in N'dakhonga and Foundiougne and one cold storage in Ziguinchor, with two years of O&M service provided after the completion of construction. In December 2011, a consortium of Samsung C&T and Dongil Shipyard won the order for Maritime Infrastructure Establishment Project (MIEP) in Senegal. The project consisted of two new car/passenger carriers with capacity of 200 passengers, two terminals and wharfs in N’Dakhonga and Foundiougne and one cold storage including two years of vessel operation and maintenance. What makes the MIEP project so special is that it can offer total solution for the beneficiary country. It not only includes the required vessels but also covers other maritime infrastructure that is essential for development of maritime logistics and related industry. Since the project is financed by Korean EDCF, the terms and conditions of financing are attractive as well, especially for countries with great potential but with little means.

Netherlands, 2 units of Cable Laying Vessel This project is to construct two units of CLV purchased by Royal Boskalis Westminster N.V., the Netherlands in April 2011 and these vessel were constructed by ZPMC(main contractor) in Shanghai, China. Samsung C&T won a contract for the construction of two units of power cable laying vessel from Royal Boskalis Westminster N.V. in July, 2011. At the same time, Samsung placed an order with ZPMC for the supply of the vessels. This is a full turnkey project in which Samsung plays the role of main contractor that takes the responsibility for managing vessel construction undertaken by ZPMC of Shanghai, China. The construction of the vessels measuring 100 meters in length with cable loading capacity of 5,000 tons is expected to be completed at the beginning of the second half of 2013. Ship owners have expressed keen interest in shipbuilding in China for its price advantage, but there are always concerns about the quality. Therefore, ship owners prefer players like Samsung C&T from Korea, a global leader in shipbuilding, to take charge in management, design, procurement, fabrication and commissioning of the vessels built in China. On top of that, demand for cable laying vessel is highly likely to surge in the near future boosted by the swelling demand for underwater interconnector power cables as a result of increased energy use, geographic imbalances in energy consumption and growth of offshore wind farms.

Shipfund (tertiary) - 2 units of 57K Bulk Carrier This project is the most sophisticated ship fund project completed by Samsung C&T, who is the organizer of entire project and plays the same role in its second ship fund project. Samsung C&T also serves as a residual value insurer. As a catalytic investor, Samsung C&T has formed a ship fund together with other suitable partners including institutional investors with private equity fund (primary and secondary ship investment projects) or individual investors with public offering (tertiary ship investment project). The ship fund provides loans to the special purpose company (owner) which purchases newly-built bulk carriers from Korean or foreign shipyards. The vessels have been chartered out to world leading charterers such as Hyundai Merchant Marine of Korea and Cargill International of Switzerland, for five to ten years maximum, and will be sold to the charterer when the contract comes to an end. During the past several years, Samsung C&T and other investors have enjoyed stable revenue stream such as dividend and capital gains, and at the same time the charterer can expand their fleet at a very competitive cost.

Singapore, 3 units of Deck Cargo Vessel This project is to construct three units of 13,000DWT Deck Cargo Vessel, fully managed by Samsung C&T. The vessel is a self-propelled barge which is suitable for carrying coals, iron ores and limestone. Samsung C&T was in charge of the project as the main EPC contractor. A capable Chinese shipyard was arranged by Samsung to deliver the optimal techno-commercial solution in favor of our clients. The construction of vessels with an overall length of 127 meters and loading capacity of 13,000DWT began in May 2012 at Nanyang Jinjiang Shipyard in China which delivered the first output in May 2013. The project was fully managed by Samsung C&T based on collaboration with qualified engineers from Korean shipbuilding industry, backed by reliable financial guarantee.