PT 4848 Globallink &

PT 4848 Global System Business Plan

Floating Storage Unit (FSU)FEASIBILTY STUDY

PT 4848 Globallink

OVERVIEWSTUDY ON PURCHASE OF VLCC TO OPERATE AT

DURIAN STRAITS AS FLOATING STORAGE UNIT (FSU)

TWO COMPANIES WILL BE SET UP TO OPERATE

SHIP OWNING COMPANY TO PURCHASE THE VESSEL AS OWNER AND WILL

APPOINT THIRD PARTY SUCH AS THOME SHIPMANAGEMENT AS TECHNICAL

MANAGERS.

COMMERCIAL COMPANY TO TIME CHARTER THE VESSEL AND OPERATE AS FLOATING

STORAGE. THE COMPANY WILL OPERATE ALL COMMERCIAL ACTIVITIES AND WILL LIASE

WITH STS OPERATOR SUCH AS FENDERCARE FOR THE STS OPERATION.

OVERVIEW

SHIP OWNING COMPANY COST

No DETAIL USD

A PURCHASE COST OF VLCC “LA PRUDENCIA” ESTIMATE 21.0M

B MOBILISATION COST 0.5M

C PAID UP CAPITAL 5.0M

D LOAN 16.5M

E DAILY OPERATION COST USD PER DAY 12,000

F DAILY INCOME USD PER DAY (BASIS MARKET TIME

CHARTER RATE TO COMMERICAL COMPANY)

16,000

G CASH ACCUMULATED (END OF FIVE YEARS) 6,0M

H SCRAP VALUE (AT USD470 PER LIGHT WEIGHT) 19.2M

I NET PROFIT USD (25.2M-21.5M) 3.7M

J NO REPAYMENT OF LOAN OVER FIVE YEARS -

K REQUIRE ADDITIONAL FOR FIRST YEAR WORKING

CAPITAL

1.5M

COMMERCIAL COMPANY COSTSCENARIO ONE (BASIS 1 THROUGHPUT)

No DETAIL USD

A TIME CHARTER PER DAY FOR FIVE YEARS FROM

SHIPOWNING COMPANY

16,000

B TIME COST PER MONTH 480K

C BUNKER COST PER MONTH 530K

D PORT COST PER MONTH 70K

TOTAL COST PER MONTH 1080K

E ONE THROUGHPUT COST - USD 4.0 PER METRIC

TONS

270K

COMMERCIAL COMPANY COSTSCENARIO TWO (BASIS 1.5 THROUGHPUT)

No DETAIL USD

A TIME CHARTER PER DAY FOR FIVE YEARS

FROM SHIPOWNING COMPANY

16,000

B TIME COST PER MONTH 480K

C BUNKER COST PER MONTH 654K

D PORT COST PER MONTH 70K

TOTAL COST PER MONTH 1204K

E ONE THROUGHPUT COST - USD 4.0 PER

METRIC TONS

405K

RENTAL INCOME SCENARIO ONE (BASIS 1 THROUGHPUT)

• USD 4.25 PER METRIC TONS AT ONE THROUGHPUT OF 270,000MTS

MARKET STORAGE

RENTAL RATE

• 270,000MT X 4.25PMTREVENUE USD 1147K

• USD 1147K - USD1080KPROFIT USD

67K PER MONTH

RENTAL INCOME SCENARIO TWO (BASIS 1.5 THROUGHPUT)

• USD 4.25 PER METRIC TONS AT ONE THROUGHPUT OF 270,000 MTS AND

• USD 1.50 PER METRIC TONS FOR ADDITIONAL 0.5 THROUGHPUT OF 135,000 MTS

MARKET STORAGE

RENTAL RATE

• 270,000 MT X 4.25 PMT + 135,000 MT X 1.5REVENUE USD 1349K

• USD 1349K – USD 1204K

PROFIT USD 145K PER MONTH

SHIP MANNING

Ship Owning Company To Be Register Outside Indonesia

Commercial Company To Be Register In Indonesia

Indonesian Flag For Convenient STS Operation In Indonesia

Indonesian Crews For Lower Operating Cost

Technical Management By “Thome Ship” Management

SUMMARYFloating Storage Unit FEASIBILTY STUDY

• TOTAL PROFIT OF USD 3.7M

• BASIS ABOVE ASSUMPTION

• RISK OF LOWER PROFIT FOR SHIPOWNING COMPANY IF SCRAP VALUE BELOW CURRENT USD 470 PER LIGHT WEIGHT TON

FOR SHIPOWNING COMPANY

• NETT RENTAL PROFIT OF USD 4.0M (67K X 12 X 5YRS)

• BASIS 1.0 THROUGHPUT

FOR COMMERCIAL COMPANY

• NETT RENTAL PROFIT OF USD 8.7M (145K X12 X 5YRS)

• BASIS 1.5 THROUGHPUT

FOR COMMERCIAL COMPANY

• FROM EXISTING STS LOCATION

• AT KARIMUM, NIPA, BATAM

• PASIR GUDANG AND TANJUNG PELAPAS

POTENTIAL COMPETITIONS

PT 4848 GLOBAL SYSTEM

SELAT DURIAN ANCHORAGE & SHIP-TO-

SHIP TRANSFER AREA

SELAT DURIAN STRATEGYC LOCATION

SELAT DURIAN STRATEGYC LOCATION

Durian Strait Port Operation LOCATION

INDONESIA STS LOCATION BOUNDED BY THE FOLLOWING CO-ORDINATES

• LAT 01’00.50’’ LONG 103’38.15”

• LAT 01’00.50” LONG 103’41.30”

• LAT 00’56.50” LONG 103’38.30”

• LAT 00’56.50” LONG 103’36.20”

DEEPER DRAFT AND LESS CONGESTED THAN OTHER STS LOCATION LIKE TANJUNG PELAPAS AND PASIR GUDANG

EASY ACCESSIBLE TO FACILITIES LOCATED NEAR BATAM

Durian Strait Port Operation Cost Information(Port Cost)

SUEZMAX

US$27,000Tanker 160000DWT

VLCC

US$44,000

AFRAMAX

US$22,000TANKER = between

79000 - 120000 DWT

MEDIUM SIZE

US$15,000

• ONE FENDER & HOSE

• TWO SUPPORT CRAFT / TUG FOR DEMOBILISING THE STS EQUIPMENT

• TWO TUGS FOR MOORING OPERATION

• ONE TUG FOR UNMOORING OPERATION

• ONE TUG STANDBY THROUGHOUT STS OPERATION

• MOORING MASTER AND/OR STS SUPERINTENDENT

STS EQUIPMENT Rental COST

US$41,000 FOR 3rd Party for FIRST

48HRS WITH FOLLOWING INCLUSIVE:

Durian Strait Port Operation Cost Information(Port Cost)

PT 4848 Global System P&L FORECASTAssumption based on current Jetty operation at Tankstore Singapore 200 Ships alongside at 10 available

Jetties permonth for variuos vessel -- For One VLCC assumption is for 2 Jetties (side by side)

US$ 000

INCOME (60 months)

Sea Port VLCC (50% of 70K)/Month 2.100 Investment

Cost* 3.000

Sea Port Dues 80vs/month average 30K DWT 12.240 Sunk Cost 3.000

Supporting Activities Fees (Tug Boat, Crew Boat, Fender etc) 4.590 6.000 Lay Up, STS, & Anchorage Activites (25% increase for 1st 5

yrs)3.767

Cash

accumulated 22.697 22.697

Total Income 22.697 Less

LESS EXPENSES Cost 7.774

Manpower expenses (20% yearly increase) 4.770 Loan 6.000 13.774

Offices expenses (25% of Maintenance VLCC) 1.144 Net Cash 8.923

Management Expenses (= VLCC - 3% yearly increase) 860

Others 750 Investment Cost for:

Insurance 250 Oil Boom

Total Expenses 7.774 Buoys

PROFIT BEFORE TAX/CASH GENERATED 14.923 Navigation Light

LESS Interest on Loans 1pct for 5 yr repayment 300 Communication Equipment

NET PROFIT 14.623 Crew Boat

PT 4848 GLOBAL SYSTEM COSTING

SUMMARY Durian Strait Port

Operation

• TOTAL PROFIT OF USD 22.7M FOR FIRST 5 YEARS ON OPERATION

• BASIS ON ONE FSU ON OPERATION

FOR PT 4848 GLOBAL SYSTEM

COMPANIES

• INCOME FROM RENTAL OF PURCHASING SUPPORTING FACILITIES SUCH AS TUG BOAT,

POTENTIALSOURCESINCOMES

NAV & FUNDING REQUIREMENT

NOINVESTMENT

ITEM

2013 2014 2015

1 2 3 4 1 2 3 4 1 2 3 4

1 PURCHASE VLCC

2 MODIFY FOR FSU

3PURCHASE CREW

BOAT

4

PURCHASE

SUPPORTING

FACILITIES

FUND

REQUIREMENT IN

$MM

21 3.5

NAV = ASSET – LIABILITIES/(OUTSTANDING SHARES)