Sustainability Report 2011

Sustainability Report 2011

Burando Maritime ServicesDelivering on our “one-stop-shop” promise.

July 2012

SERVICESHIP TO SHIPPURGINGLAY-BY

SHIP SPARES LOGISTICS

C R A N E B A R G E 2

CUSTOMS

N O S M O K I N G

F T S H O F F T R A N S

N O S M O K I N G

ONE-STOP-SHOP BURANdO MARITIME SERVICES

Customs Services

Provider of customs consultancy and IT solutions for logistical, administrative and fiscal challenges

Rental Services

Rental of power packs and hydraulic-driven pumps

Ship Spares Logistics

Transport, forwarding and hoisting/rigging of goods; delivery of ship supplies and equipment by road, sea and air for shipping, petrochemical and offshore industries

FTS Hofftrans

Oil transportation (bunker deliveries and inter-refinery transport)

Fendercare

Hose and fender rental and deployment of personnel for board-to-board activities

This is us

Trefoil Trading

Global gasoil trading and delivery

Nature Group plc

International Slop Disposal (Collection, transportation and storage of liquid and solid ship’s waste)

Ecoscrub Solutions(Provider of solutions for odour and emissions treatment)

Service Terminal Roterdam

Ship-to-ship transshipments and lay-by services, onshore storage of heavy fuel, and delivery of utilities




CUSTOMS

N O S M O K I N G


N O S M O K I N G

ONE-STOP-SHOP BURANdO MARITIME SERVICES

Customs Services

Provider of customs consultancy and IT solutions for logistical, administrative and fiscal challenges

Rental Services

Rental of power packs and hydraulic-driven pumps


Transport, forwarding and hoisting/rigging of goods; delivery of ship supplies and equipment by road, sea and air for shipping, petrochemical and offshore industries

FTS Hofftrans

Oil transportation (bunker deliveries and inter-refinery transport)

Fendercare

Hose and fender rental and deployment of personnel for board-to-board activities

This is us

Trefoil Trading

Global gasoil trading and delivery

Nature Group plc

International Slop Disposal (Collection, transportation and storage of liquid and solid ship’s waste)

Ecoscrub Solutions(Provider of solutions for odour and emissions treatment)

Service Terminal Roterdam

Ship-to-ship transshipments and lay-by services, onshore storage of heavy fuel, and delivery of utilities

Table of ContentsAbout this report 7

About us 9

Our organisation in brief 10

Key Figures 12

- Our Locations 12

- Our Workforce 13

- Our History 14

- Our Fleet 15

CEO Report 18

Our Policy 20

Highlights 23

Our Services 24

- Burando Oil Logistics 24

- Burando Maritime Logistics 25

Our Achievements 29

- People 29

- Sustainability and Business Assurance 32

Operations 46


- Burando Maritime logistics 52

Future Developments 56

Final Words 59

Annexes 61

BMS Sustainability Report 2011 5BMS Sustainability Report 2011 4

Table of ContentsAbout this report 7

About us 9

Our organisation in brief 10

Key Figures 12

- Our Locations 12

- Our Workforce 13

- Our History 14

- Our Fleet 15

CEO Report 18

Our Policy 20

Highlights 23

Our Services 24


- Burando Maritime Logistics 25

Our Achievements 29

- People 29

- Sustainability and Business Assurance 32

Operations 46


- Burando Maritime logistics 52

Future Developments 56

Final Words 59

Annexes 61


About this reportFollowing on from the success of our Sustainability Report 2010, we are pleased to present

our new Sustainability Report 2011, which reflects all business activities of Burando

Maritime Services (Burando), consisting of Burando Maritime Logistics (BML) and Burando

Oil Logistics (BOL).

This report details and evaluates our performance in all those operational aspects and

activities that have the potential to affect, whether positively or negatively, the quality of our

work, the health and safety of our employees, the environment or society at large, either

positively or negatively. It covers all subsidiaries and legal entities of Burando that were

operational for more than one full month in 2011.

As with last year’s report, this report reflects our sincere commitment to openness and

transparency about what we have achieved. It provides insight not only into our operational

figures, but also into the sustainability and social responsibility of our businesses.

In the interests of offering our stakeholders the most up-to-date and relevant information,

this report also includes our new company policy (though in practice this policy only took

effect in 2012). The release of this new policy marks the start of a new era for Burando,

where we put more focus on the issues that really matter in order to deliver on our

“one-stop-shop” promise.

In this report, you will find everything you need to know about Burando Maritime Services:

who we are, what we do, what we have achieved in 2011 – and how we plan to grow as

the most reliable partner to the maritime industry, now and in the future.

Rotterdam, July 2012.

Arjan Donatz

Chief Support Officer


About this reportFollowing on from the success of our Sustainability Report 2010, we are pleased to present

our new Sustainability Report 2011, which reflects all business activities of Burando

Maritime Services (Burando), consisting of Burando Maritime Logistics (BML) and Burando

Oil Logistics (BOL).

This report details and evaluates our performance in all those operational aspects and

activities that have the potential to affect, whether positively or negatively, the quality of our

work, the health and safety of our employees, the environment or society at large, either

positively or negatively. It covers all subsidiaries and legal entities of Burando that were

operational for more than one full month in 2011.

As with last year’s report, this report reflects our sincere commitment to openness and

transparency about what we have achieved. It provides insight not only into our operational

figures, but also into the sustainability and social responsibility of our businesses.

In the interests of offering our stakeholders the most up-to-date and relevant information,

this report also includes our new company policy (though in practice this policy only took

effect in 2012). The release of this new policy marks the start of a new era for Burando,

where we put more focus on the issues that really matter in order to deliver on our

“one-stop-shop” promise.

In this report, you will find everything you need to know about Burando Maritime Services:

who we are, what we do, what we have achieved in 2011 – and how we plan to grow as

the most reliable partner to the maritime industry, now and in the future.

Rotterdam, July 2012.

Arjan Donatz

Chief Support Officer


About usWho we are

Burando Maritime Services is the leading service provider in the maritime industry. Thanks to our up-to-date knowledge and experience in the sector and our highly customer-oriented way of doing business, we have become a trusted partner to inland and maritime shipping, and oil & gas companies. Burando Maritime Services has a team of over 250 enthusiastic and highly trained employees working around the clock to provide proactive and result-driven solutions to its customers – and we continuously strive to further improve our services and products. Our main objective, in everything we do, is to achieve maximum

customer satisfaction.

Our purpose

Burando Maritime Services is a “one-stop-shop” service provider for the maritime industry. Our concept is simple yet unique: in the many harbours we operate in across the world, our combinations of products and services guarantee our inland and maritime shipping customers the most reliable, convenient, and comfortable visit possible.

Sustainability

“Burando Maritime Services supports the objectives of the Rotterdam Energy and Climate initiative. We are involved in developing new methods to reduce emissions, as well as finding alternative and improved energy sources. Through many years of experience, we have seen that a responsible and sustainable company policy contributes to the reputation, continuity and profitability of our company – and helps to ensure a greener,

brighter future for us all”


About usWho we are

Burando Maritime Services is the leading service provider in the maritime industry. Thanks to our up-to-date knowledge and experience in the sector and our highly customer-oriented way of doing business, we have become a trusted partner to inland and maritime shipping, and oil & gas companies. Burando Maritime Services has a team of over 250 enthusiastic and highly trained employees working around the clock to provide proactive and result-driven solutions to its customers – and we continuously strive to further improve our services and products. Our main objective, in everything we do, is to achieve maximum

customer satisfaction.

Our purpose

Burando Maritime Services is a “one-stop-shop” service provider for the maritime industry. Our concept is simple yet unique: in the many harbours we operate in across the world, our combinations of products and services guarantee our inland and maritime shipping customers the most reliable, convenient, and comfortable visit possible.

Sustainability

“Burando Maritime Services supports the objectives of the Rotterdam Energy and Climate initiative. We are involved in developing new methods to reduce emissions, as well as finding alternative and improved energy sources. Through many years of experience, we have seen that a responsible and sustainable company policy contributes to the reputation, continuity and profitability of our company – and helps to ensure a greener,

brighter future for us all”


Our organisation in briefBurando Maritime Services is made up of two divisions: Burando Oil Logistics (BOL) and Burando Maritime Logistics (BML).

Burando Oil Logistics

Burando Oil Logistics handles the transportation and storage of heavy fuel products, and the supply and trade of marine gasoil products. The companies within the group are:

Service Terminal Rotterdam With its unique location in the Botlek area, STR provides efficient and reliable maritime/transshipment services to ship owners, charterers, traders and port agents. In a joint venture with the Russian oil major Lukoil, STR operates a 240,000 m3 fuel oil tank

storage facility, which serves the ARA bunker market.

FTS Hofftrans FTS Hofftrans guarantees its customers excellent services, flexible operations and timely delivery, thanks to its state-of-the-art double-hull bunker barge fleet, with a total capacity

of over 70,000 mt.

Trefoil With global gasoil trading and physical supply activities in the ARA region, Trefoil is your trusted gasoil supplier. Trefoil has a modern fleet of dedicated gasoil supply barges to guarantee smooth, flexible and on-time delivery.

Burando Maritime Logistics

Burando Maritime Logistics offers vessels a unique “one-stop-shop” for a wide range of services through its subsidiaries.

Ship Spares Logistics Ship Spares Logistics is the leading maritime logistic service provider in the ARA region. Our network of efficient warehouses, our fleet of modern road trucks and minivans, our four Crane Barges and our motivated and proactive employees ensure high-quality, reliable and on-time delivery of your (bonded) stores, provisions and spare parts – 24 hours a day, 7 days a week.

Fendercare Benelux A joint venture between Burando Maritime Services and Fendercare Marine Solutions, Fendercare Benelux is the global leader in transshipments on behalf of oil majors, suppliers and traders. With Fendercare, Burando manages all your operational needs for fender and hose rental services.

Burando Customs Services The independent customs service provider and broker Burando Customs Services offers the best customs solutions for all your logistic, administrative and fiscal challenges.

Burando Rental Services Burando Rental Services provides various power packs and hydraulic-driven pumps. Our quick response team is available to both maritime and industrial clients 24/7 to offer advice or solve any liquid bulk cargo problems.

Nature Group plc Nature Group, supported by full subsidiaries NISD and NESS, is the leading offshore waste collection and treatment service provider.

BMS Sustainability Report 201110 BMS Sustainability Report 2011 11

Our organisation in briefBurando Maritime Services is made up of two divisions: Burando Oil Logistics (BOL) and Burando Maritime Logistics (BML).


Burando Oil Logistics handles the transportation and storage of heavy fuel products, and the supply and trade of marine gasoil products. The companies within the group are:

Service Terminal Rotterdam With its unique location in the Botlek area, STR provides efficient and reliable maritime/transshipment services to ship owners, charterers, traders and port agents. In a joint venture with the Russian oil major Lukoil, STR operates a 240,000 m3 fuel oil tank

storage facility, which serves the ARA bunker market.

FTS Hofftrans FTS Hofftrans guarantees its customers excellent services, flexible operations and timely delivery, thanks to its state-of-the-art double-hull bunker barge fleet, with a total capacity

of over 70,000 mt.

Trefoil With global gasoil trading and physical supply activities in the ARA region, Trefoil is your trusted gasoil supplier. Trefoil has a modern fleet of dedicated gasoil supply barges to guarantee smooth, flexible and on-time delivery.


Burando Maritime Logistics offers vessels a unique “one-stop-shop” for a wide range of services through its subsidiaries.

Ship Spares Logistics Ship Spares Logistics is the leading maritime logistic service provider in the ARA region. Our network of efficient warehouses, our fleet of modern road trucks and minivans, our four Crane Barges and our motivated and proactive employees ensure high-quality, reliable and on-time delivery of your (bonded) stores, provisions and spare parts – 24 hours a day, 7 days a week.

Fendercare Benelux A joint venture between Burando Maritime Services and Fendercare Marine Solutions, Fendercare Benelux is the global leader in transshipments on behalf of oil majors, suppliers and traders. With Fendercare, Burando manages all your operational needs for fender and hose rental services.

Burando Customs Services The independent customs service provider and broker Burando Customs Services offers the best customs solutions for all your logistic, administrative and fiscal challenges.

Burando Rental Services Burando Rental Services provides various power packs and hydraulic-driven pumps. Our quick response team is available to both maritime and industrial clients 24/7 to offer advice or solve any liquid bulk cargo problems.

Nature Group plc Nature Group, supported by full subsidiaries NISD and NESS, is the leading offshore waste collection and treatment service provider.


Key Figures

Burando Maritime Services operates in:- Rotterdam, the Netherlands (head office)- Amsterdam, the Netherlands- Antwerp, Belgium

Recently, we also commenced operations in Hamburg, Germany.

Workforce employed

As of December 2011, our workforce stood at 137 employees. In addition, we made use of the services of some 120 contracted staff on a regular and/or permanent basis.

Amsterdam

Rotterdam

Antwerpen

BMS Sustainability Report 2011 13BMS Sustainability Report 201112

Hamburg

Our Locations

137 BML 2.9%BOL 3.8%

Absence rate 2011

Key Figures

Burando Maritime Services operates in:- Rotterdam, the Netherlands (head office)- Amsterdam, the Netherlands- Antwerp, Belgium

Recently, we also commenced operations in Hamburg, Germany.

Workforce employed

As of December 2011, our workforce stood at 137 employees. In addition, we made use of the services of some 120 contracted staff on a regular and/or permanent basis.

Amsterdam

Rotterdam

Antwerpen


Hamburg

Our Locations

137 BML 2.9%BOL 3.8%

Absence rate 2011

Our FleetAs of December 2011, we had 37 (owned and chartered) inland tankers, vessels and/or barges in operation.



22

11

4

2001

2002

2003

2004

2005

2007

2008

2009

2010-2011Acquisition of Trefoil Trading ISD and ESS shares sold to Nature Group plc,

Burando becomes largest shareholder in Nature Group

Start of new company, Burando Rental Services

Acquisition of Van Esch International & Ship Spares Logitics, merged into Ship Spares Logistics (SSL)

Start of new company, Burando Customs Services

JV Fendercare Benelux founded (Fendercare Marine & Burando)

Service Terminal Rotterdam in operation Ecoscrub founded

Rebuilding of Rotterdam Terminal as a Fuel/Oil Terminal

Burando moves to Service Terminal Rotterdam

Acquisition of Service Terminal Rotterdam and International Slop Disposal

Burando founded by merging FTS & Hofftrans


37Our History

Our FleetAs of December 2011, we had 37 (owned and chartered) inland tankers, vessels and/or barges in operation.



22

11

4

2001

2002

2003

2004

2005

2007

2008

2009

2010-2011Acquisition of Trefoil Trading ISD and ESS shares sold to Nature Group plc,

Burando becomes largest shareholder in Nature Group

Start of new company, Burando Rental Services

Acquisition of Van Esch International & Ship Spares Logitics, merged into Ship Spares Logistics (SSL)

Start of new company, Burando Customs Services

JV Fendercare Benelux founded (Fendercare Marine & Burando)

Service Terminal Rotterdam in operation Ecoscrub founded

Rebuilding of Rotterdam Terminal as a Fuel/Oil Terminal

Burando moves to Service Terminal Rotterdam

Acquisition of Service Terminal Rotterdam and International Slop Disposal

Burando founded by merging FTS & Hofftrans


37Our History

w

CEO’s ReportThe year 2011 has been both challenging and encouraging for Burando Maritime Services. The global economic slowdown has had an impact: with less volume to be shipped, there are fewer vessels calling at our ports. Despite this, however, Burando has been able to maintain – and even expand – its market share both through autonomous growth and through acquisition.


- Service Terminal Rotterdam (STR) reached the limits of its terminal storage capacity and set about acquiring additional storage tanks that will triple its total storage capacity. The operational opening of the new storage tanks will take place in March 2012. Levels of service activity were in line with those of the port overall. Board-to-board transhipment was slightly down from 2010 but, due to a new contract with a large trading company, STR was able to expand its nitrogen supply exponentially.

- FTS Hofftrans has decided to invest further in new build barges, taking advantage of weak current market conditions to buy very smart new build capacity.- Trefoil, a Rotterdam-based gasoil trading and supply company, was acquired by Buran do via a takeover of the shares of the previous owners at the end of 2010. Under Burando, Trefoil’s trading volume more than doubled in a market that grew only slightly, and by the end of 2011, Trefoil had become the market leader in Rotterdam.


Burando purchased a 22.5% share in Nature Group (listed on the London Stock Exchange), making it the largest single shareholder in the company. Nature Group had previously acquired International Slop Disposal (ISD) at the end of 2010. Nature Group is not included in this report; it has its own annual report and CSR report, which are available at www.ngrp.com

- Ship Spares Logistics (SSL) had a very good year, although the market for logistics continues to be generally weak. A year after its creation in 2010, SSL Amsterdam now contributes positively to SSL’s overall results. A warehouse location in Rotterdam has also been acquired, and plans are being drawn up for the future expansion of the site.

- Burando Customs Services is becoming the leading customs brokerage company for the Rotterdam fuel oil industry. More and more companies, including very large trading companies, are seeking the support of Burando Customs Services. - Burando Rental Services had a very successful year in 2011, delivering all of its 20+ pumping jobs within deadline and without any spills or problems.- Fendercare Benelux had a strong start to 2011, which then flattened somewhat mid-year due to the small difference in oil prices between the Far East and Europe.

2011 saw a number of key strategic initiatives to support our central focus on exceeding customer expectations and delivering products and services of the very highest quality. As a result of investment within our software development department, we are now able to adjust our systems to any new customer or governmental requirement – ending our reliance on third parties. A Chief Support Officer has also been hired to provide specialised support to our operations and ensure quality and full legal compliance.We also continue to build on our commitment to corporate social responsibility (CSR) – a commitment which long predates the CSR hype that has emerged in recent years. Organisations and events sponsored by Burando in 2011 include the Florentina Foundation (with initiatives in Tanzania) and local football and cycling events. For Burando, behaving responsibly towards society, our stakeholders and the environment has always been a central tenet of our philosophy, and we look forward to investing further in our community as our business continues to grow. July 2012

Andreas Drenthen Luc BraamsCEO CEO


w

CEO’s ReportThe year 2011 has been both challenging and encouraging for Burando Maritime Services. The global economic slowdown has had an impact: with less volume to be shipped, there are fewer vessels calling at our ports. Despite this, however, Burando has been able to maintain – and even expand – its market share both through autonomous growth and through acquisition.


- Service Terminal Rotterdam (STR) reached the limits of its terminal storage capacity and set about acquiring additional storage tanks that will triple its total storage capacity. The operational opening of the new storage tanks will take place in March 2012. Levels of service activity were in line with those of the port overall. Board-to-board transhipment was slightly down from 2010 but, due to a new contract with a large trading company, STR was able to expand its nitrogen supply exponentially.

- FTS Hofftrans has decided to invest further in new build barges, taking advantage of weak current market conditions to buy very smart new build capacity.- Trefoil, a Rotterdam-based gasoil trading and supply company, was acquired by Buran do via a takeover of the shares of the previous owners at the end of 2010. Under Burando, Trefoil’s trading volume more than doubled in a market that grew only slightly, and by the end of 2011, Trefoil had become the market leader in Rotterdam.


Burando purchased a 22.5% share in Nature Group (listed on the London Stock Exchange), making it the largest single shareholder in the company. Nature Group had previously acquired International Slop Disposal (ISD) at the end of 2010. Nature Group is not included in this report; it has its own annual report and CSR report, which are available at www.ngrp.com

- Ship Spares Logistics (SSL) had a very good year, although the market for logistics continues to be generally weak. A year after its creation in 2010, SSL Amsterdam now contributes positively to SSL’s overall results. A warehouse location in Rotterdam has also been acquired, and plans are being drawn up for the future expansion of the site.

- Burando Customs Services is becoming the leading customs brokerage company for the Rotterdam fuel oil industry. More and more companies, including very large trading companies, are seeking the support of Burando Customs Services. - Burando Rental Services had a very successful year in 2011, delivering all of its 20+ pumping jobs within deadline and without any spills or problems.- Fendercare Benelux had a strong start to 2011, which then flattened somewhat mid-year due to the small difference in oil prices between the Far East and Europe.

2011 saw a number of key strategic initiatives to support our central focus on exceeding customer expectations and delivering products and services of the very highest quality. As a result of investment within our software development department, we are now able to adjust our systems to any new customer or governmental requirement – ending our reliance on third parties. A Chief Support Officer has also been hired to provide specialised support to our operations and ensure quality and full legal compliance.We also continue to build on our commitment to corporate social responsibility (CSR) – a commitment which long predates the CSR hype that has emerged in recent years. Organisations and events sponsored by Burando in 2011 include the Florentina Foundation (with initiatives in Tanzania) and local football and cycling events. For Burando, behaving responsibly towards society, our stakeholders and the environment has always been a central tenet of our philosophy, and we look forward to investing further in our community as our business continues to grow. July 2012



Our PolicyBurando Maritime Services (BMS) is a one-stop-shop service provider for inland and maritime shipping, and oil & gas companies, ensuring its clients and partners a worry-free visit to any foreign or domestic harbour where BMS is active. BMS achieves this through a unique range of first-class products and services in the maritime service sector. These are delivered by:

Burando Oil Logistics- Service Terminal Rotterdam (STR)- FTS Hofftrans (FTS)- Trefoil Trading (TRT)

Burando Maritime Logistics- Ship Spares Logistics (SSL)- Fendercare Benelux (FCB)- Burando Customs Services (BCS)- Burando Rental Services (BRS)- International Slop Disposal (ISD) and EcoScrub Solutions (ESS) – subsidiaries of Nature Group PLC

This full range of services ensures the efficient, effective and continuous improvement of the performance, comfort and enjoyment of interested parties (clients, purchasers, suppliers, authorities, investors, employees, etc.) with whom BMS has a relationship and seeks to collaborate.

BMS is a solutions- and service-oriented company, characterised by a proactive and supportive mentality that fits our motto: we deliver what we promise.

BMS naturally aims to continue its own development, while staying up to date on new developments and potential future services and products in both foreign and domestic markets. This will ensure that we can continue to provide optimal service for our stakeholders, perfect our one-stop-shop business model, and improve customer satisfaction.

BMS is aware of the impact it can have on its surroundings and its stakeholders, in terms of safety and the environment as well as image. In order to control this impact as much as possible, we have implemented a management system in line with internationally recognised standards. At the same time, we have set goals to ensure that risks or liabilities in the area of quality, the environment and safety, as well as internal operational procedures, are dealt with appropriately and efficiently and that they are continuously improved wherever possible.

BMS considers that its responsibility goes beyond simple compliance with laws and regulations concerning the environment, safety and the prevention of (environmental) incidents, damage and oversights. BMS has made the individual, its clients and its community a central concern – but sustainability is also a priority. The company has therefore joined widely recognised programmes and collaborative sustainability efforts and/or signed relevant covenants. This enables us to introduce new technologies that contribute to the reduction of CO2 emissions and/or which help address other challenges in the quickly changing markets where BMS is – or will be – active.

The management of BMS has learned from experience that a focus on these issues can contribute to the optimisation, the reputation and the continuity of Burando Maritime Services. May 2012



Our PolicyBurando Maritime Services (BMS) is a one-stop-shop service provider for inland and maritime shipping, and oil & gas companies, ensuring its clients and partners a worry-free visit to any foreign or domestic harbour where BMS is active. BMS achieves this through a unique range of first-class products and services in the maritime service sector. These are delivered by:

Burando Oil Logistics- Service Terminal Rotterdam (STR)- FTS Hofftrans (FTS)- Trefoil Trading (TRT)

Burando Maritime Logistics- Ship Spares Logistics (SSL)- Fendercare Benelux (FCB)- Burando Customs Services (BCS)- Burando Rental Services (BRS)- International Slop Disposal (ISD) and EcoScrub Solutions (ESS) – subsidiaries of Nature Group PLC

This full range of services ensures the efficient, effective and continuous improvement of the performance, comfort and enjoyment of interested parties (clients, purchasers, suppliers, authorities, investors, employees, etc.) with whom BMS has a relationship and seeks to collaborate.

BMS is a solutions- and service-oriented company, characterised by a proactive and supportive mentality that fits our motto: we deliver what we promise.

BMS naturally aims to continue its own development, while staying up to date on new developments and potential future services and products in both foreign and domestic markets. This will ensure that we can continue to provide optimal service for our stakeholders, perfect our one-stop-shop business model, and improve customer satisfaction.

BMS is aware of the impact it can have on its surroundings and its stakeholders, in terms of safety and the environment as well as image. In order to control this impact as much as possible, we have implemented a management system in line with internationally recognised standards. At the same time, we have set goals to ensure that risks or liabilities in the area of quality, the environment and safety, as well as internal operational procedures, are dealt with appropriately and efficiently and that they are continuously improved wherever possible.

BMS considers that its responsibility goes beyond simple compliance with laws and regulations concerning the environment, safety and the prevention of (environmental) incidents, damage and oversights. BMS has made the individual, its clients and its community a central concern – but sustainability is also a priority. The company has therefore joined widely recognised programmes and collaborative sustainability efforts and/or signed relevant covenants. This enables us to introduce new technologies that contribute to the reduction of CO2 emissions and/or which help address other challenges in the quickly changing markets where BMS is – or will be – active.

The management of BMS has learned from experience that a focus on these issues can contribute to the optimisation, the reputation and the continuity of Burando Maritime Services. May 2012



Highlights

ISD and ESS were taken over by

the AIM-listed company Nature

Group PLC, of which Burando is

the largest single shareholder.

“Phase 2” of the tank storage expansion at Service Terminal Rotterdam continued as planned. The five new storage tanks, with a maximum height of 32 m and an additional capacity of 175,000 mt, will be a spectacular new landmark for the Rotterdam Botlek area.

Ship Spares Logistics is now the

ARA market leader in maritime

logistics, with notable recent

success in the Port of

Amsterdam. Besides the regular

supply of ship spares and

provisions, SSL is also

increasingly active in hoisting and

“special ops”.

The addition of Trefoil Trading

strengthened Burando’s

“one-stop-shop” principle in 2011.


Highlights

ISD and ESS were taken over by

the AIM-listed company Nature

Group PLC, of which Burando is

the largest single shareholder.

“Phase 2” of the tank storage expansion at Service Terminal Rotterdam continued as planned. The five new storage tanks, with a maximum height of 32 m and an additional capacity of 175,000 mt, will be a spectacular new landmark for the Rotterdam Botlek area.

Ship Spares Logistics is now the

ARA market leader in maritime

logistics, with notable recent

success in the Port of

Amsterdam. Besides the regular

supply of ship spares and

provisions, SSL is also

increasingly active in hoisting and

“special ops”.

The addition of Trefoil Trading

strengthened Burando’s

“one-stop-shop” principle in 2011.


Our ServicesBurando Oil Logistics

Service Terminal Rotterdam (STR)

Uniquely located in the Botlek area, STR offers multiple jetties and quay facilities, including a fully utilised berth with a total quay length of over 450 m. We provide a range of 24/7 solutions when transshipment, nitrogen or lay-by services are required:

- Ship-to-ship (transshipment) and lay-by services. STR meets the increasing need of ship owners, charterers and port agents for reliable and efficient port services. Thanks to multiple jetties and its strategic location in the Rotterdam-Botlek area, STR can provide the logistic services to speed up the port turnaround time of your vessels.

- Storage of heavy fuel oil products through its joint venture with Russian oil major Lukoil. Through its import, storage and export activities, STR serves the Antwerp-Rotterdam-Amsterdam (ARA) bunker market. STR has a total fuel oil storage capacity of 235,000 m3 and, with our new ocean jetty, we are able to receive vessels with a maximum LOA of 270 mtr.

ISO 9001, ISO 14001 and ISPS certified, STR also offers nitrogen for purging cargo tanks and N2 blankets, tank cleaning and disposal services via our collection barges, and transfer hoses and fenders (Yokohama Type) on 24-hour stand-by.

FTS Hofftrans

Service and quality are the watchwords of FTS Hofftrans. We maintain the highest quality standards for our barges and crew through a program of stringent internal inspections and on-going training schemes. We are ISO 9001 and ISO 14001 certified, and fully compliant with EBIS requirements.

In a reflection of our market leadership, we recently achieved our objective of having a 100% double-hull bunker fleet. We’re also ready for the future: by the time the new Sulphur Emissions Controlled Area (SECA) regulation came into force, FTS Hofftrans had already launched dedicated Low Sulphur barges in the ARA region.

Trefoil Trading

Trefoil Trading BV, founded in 1982, is a trusted provider of marine gasoil supply services and sustainable logistics in Europe’s leading bunker hubs. Together, our five high-tech double-hull MGO supply barges supply an average of over 250,000 m3 of marine gasoil annually – with all deliveries in full compliance with the ISO 8217-2010 quality standards.

Our experienced and well-trained operations and trading team fully understand the needs of our customers in terms of quality and logistic services, and based on long standing relationships with oil majors and local refineries, Trefoil supplies marine gasoil at highly competitive prices.


Ship Spares Logistics (SSL)

With more than four decades of experience, Ship Spares Logistics (SSL) can handle all your maritime logistical needs. SSL is the leading maritime logistics company in the ARA Region,serving primarily the Shipping, Oil & Gas and Petro Chemical industries.

We provide reliable, on-time services – within your budget – 365 days a year. Our customers receive the very best personal service and attention, all via a single telephone line and one familiar customer service representative.

Based in the ports of Rotterdam and Amsterdam, SSL combines excellent direct road and waterfront connections with bonded and free warehouses. Our warehouses allow for the consolidation of shipments from multiple suppliers, ensuring efficient onboard delivery and short- and long-term storage.

We also boast four modern Crane Barges – the essential link for onboard delivery! SSL is ISO 9001 certified, and its Crane Barge 2 is certified by the Safety, Health and Environment Checklist Contractors (SCC) to work on tank terminal jetties and quays.


Our ServicesBurando Oil Logistics

Service Terminal Rotterdam (STR)

Uniquely located in the Botlek area, STR offers multiple jetties and quay facilities, including a fully utilised berth with a total quay length of over 450 m. We provide a range of 24/7 solutions when transshipment, nitrogen or lay-by services are required:

- Ship-to-ship (transshipment) and lay-by services. STR meets the increasing need of ship owners, charterers and port agents for reliable and efficient port services. Thanks to multiple jetties and its strategic location in the Rotterdam-Botlek area, STR can provide the logistic services to speed up the port turnaround time of your vessels.

- Storage of heavy fuel oil products through its joint venture with Russian oil major Lukoil. Through its import, storage and export activities, STR serves the Antwerp-Rotterdam-Amsterdam (ARA) bunker market. STR has a total fuel oil storage capacity of 235,000 m3 and, with our new ocean jetty, we are able to receive vessels with a maximum LOA of 270 mtr.

ISO 9001, ISO 14001 and ISPS certified, STR also offers nitrogen for purging cargo tanks and N2 blankets, tank cleaning and disposal services via our collection barges, and transfer hoses and fenders (Yokohama Type) on 24-hour stand-by.

FTS Hofftrans

Service and quality are the watchwords of FTS Hofftrans. We maintain the highest quality standards for our barges and crew through a program of stringent internal inspections and on-going training schemes. We are ISO 9001 and ISO 14001 certified, and fully compliant with EBIS requirements.

In a reflection of our market leadership, we recently achieved our objective of having a 100% double-hull bunker fleet. We’re also ready for the future: by the time the new Sulphur Emissions Controlled Area (SECA) regulation came into force, FTS Hofftrans had already launched dedicated Low Sulphur barges in the ARA region.

Trefoil Trading

Trefoil Trading BV, founded in 1982, is a trusted provider of marine gasoil supply services and sustainable logistics in Europe’s leading bunker hubs. Together, our five high-tech double-hull MGO supply barges supply an average of over 250,000 m3 of marine gasoil annually – with all deliveries in full compliance with the ISO 8217-2010 quality standards.

Our experienced and well-trained operations and trading team fully understand the needs of our customers in terms of quality and logistic services, and based on long standing relationships with oil majors and local refineries, Trefoil supplies marine gasoil at highly competitive prices.


Ship Spares Logistics (SSL)

With more than four decades of experience, Ship Spares Logistics (SSL) can handle all your maritime logistical needs. SSL is the leading maritime logistics company in the ARA Region,serving primarily the Shipping, Oil & Gas and Petro Chemical industries.

We provide reliable, on-time services – within your budget – 365 days a year. Our customers receive the very best personal service and attention, all via a single telephone line and one familiar customer service representative.

Based in the ports of Rotterdam and Amsterdam, SSL combines excellent direct road and waterfront connections with bonded and free warehouses. Our warehouses allow for the consolidation of shipments from multiple suppliers, ensuring efficient onboard delivery and short- and long-term storage.

We also boast four modern Crane Barges – the essential link for onboard delivery! SSL is ISO 9001 certified, and its Crane Barge 2 is certified by the Safety, Health and Environment Checklist Contractors (SCC) to work on tank terminal jetties and quays.


Fendercare Benelux

Fendercare Benelux is a global provider of ship-to-ship transfer operations and related STS equipment to the inland and maritime shipping, and offshore industries.

We supervise ship-to-ship transfers in their entirety, and we can also provide individual components for your liquid bulk transfer via our rental service. Our multiple depots in the ports of Rotterdam and Amsterdam can supply the right equipment for STS transfer of crude oil, mineral (CPP and DPP), chemical and alcohol products at any time. All supplied equipment meets the highest standards as prescribed by the OCIMF and ISGOTT.

Burando Customs Services

Burando Customs Services is an independent customs consultant and broker. Thanks to our extensive experience, specialised expertise and in-house software development team, we offer a state-of-the-art, tailor-made customs handling system that complies with all E-customs requirements. Our key services include:

- In-bond transportation (T-1 documentation) and storage customs reporting

- Inward and outward process relief

- Simplified import and export clearance

- Excise licences (AAD documentation)

- Automated periodic declarations

- AEO certified.


Burando Rental Services

Burando Rental Services offers rental equipment, solutions and expert advice for dealing with difficulties with liquid bulk cargoes – 24 hours a day, 7 days a week. Our qualified mechanics and field technicians are ready to rent or operate a wide variety of pumps and power packs in order to minimise the down-time of our maritime and industrial customers in the event of:

- Emergency breakdowns

- Onboard pump failures

- New systems tests

- Accidental damages

- Short- and long-term rental periods

- Repairs and maintenance.

R

Fendercare Benelux

Fendercare Benelux is a global provider of ship-to-ship transfer operations and related STS equipment to the inland and maritime shipping, and offshore industries.

We supervise ship-to-ship transfers in their entirety, and we can also provide individual components for your liquid bulk transfer via our rental service. Our multiple depots in the ports of Rotterdam and Amsterdam can supply the right equipment for STS transfer of crude oil, mineral (CPP and DPP), chemical and alcohol products at any time. All supplied equipment meets the highest standards as prescribed by the OCIMF and ISGOTT.

Burando Customs Services

Burando Customs Services is an independent customs consultant and broker. Thanks to our extensive experience, specialised expertise and in-house software development team, we offer a state-of-the-art, tailor-made customs handling system that complies with all E-customs requirements. Our key services include:

- In-bond transportation (T-1 documentation) and storage customs reporting

- Inward and outward process relief

- Simplified import and export clearance

- Excise licences (AAD documentation)

- Automated periodic declarations

- AEO certified.



Burando Rental Services offers rental equipment, solutions and expert advice for dealing with difficulties with liquid bulk cargoes – 24 hours a day, 7 days a week. Our qualified mechanics and field technicians are ready to rent or operate a wide variety of pumps and power packs in order to minimise the down-time of our maritime and industrial customers in the event of:

- Emergency breakdowns

- Onboard pump failures

- New systems tests

- Accidental damages

- Short- and long-term rental periods

- Repairs and maintenance.

R

Our AchievementsDelivering on our “one-stop-shop” promise.

Despite the challenges of continued volatility in the global economic environment, 2011 saw performance improvements across the board for Burando Maritime Services. Each of our subsidiaries maintained or strengthened their positions in comparison with the previous financial year – and a number of new and interesting opportunities were explored.This section reports on our achievements in 2011, illustrating our growth and underlining our strategic vision.

“Investing in communities: Our commitment to society”

People

Community involvement

Burando Maritime Services recognises that it is an influential part of, and has a responsibility towards, the communities in which it operates. As a consequence, we make it a key aspect of our mission to be actively and positively involved in these communities.

In 2011, Burando donated almost €3,000 to local initiatives, and actively participated in local cycling and football events to support our community. Many of our employees also volunteered for local sporting clubs and other associations.

We are also actively committed to broader social initiatives. In 2011, for example, we sponsored the “Art with a Heart” initiative and the Florentina Foundation in their bid to support an education centre for local Masai children in Kolila Village, Tanzania. See www.florentinafoundation.org


Our AchievementsDelivering on our “one-stop-shop” promise.

Despite the challenges of continued volatility in the global economic environment, 2011 saw performance improvements across the board for Burando Maritime Services. Each of our subsidiaries maintained or strengthened their positions in comparison with the previous financial year – and a number of new and interesting opportunities were explored.This section reports on our achievements in 2011, illustrating our growth and underlining our strategic vision.

“Investing in communities: Our commitment to society”

People


Burando Maritime Services recognises that it is an influential part of, and has a responsibility towards, the communities in which it operates. As a consequence, we make it a key aspect of our mission to be actively and positively involved in these communities.

In 2011, Burando donated almost €3,000 to local initiatives, and actively participated in local cycling and football events to support our community. Many of our employees also volunteered for local sporting clubs and other associations.

We are also actively committed to broader social initiatives. In 2011, for example, we sponsored the “Art with a Heart” initiative and the Florentina Foundation in their bid to support an education centre for local Masai children in Kolila Village, Tanzania. See www.florentinafoundation.org


In the future, we aim to further strengthen our community involvement activities in a more targeted way, along themes that relate to our core activities, competences and interests. We are also investigating cooperative agreements with other organisations, such as knowledge institutions and NGOs, to see how we can best add value to society.

Labour practice

As of December 2011, we employed 137 people. Approximately 9% of our workforce is female, and approximately 96% of our employees work full-time. Collective health and pension agreements are available to all our employees.

Health & Safety

Our Health & Safety activities to date include creating a single centralised safety, health and welfare service for all Burando Maritime Services subsidiaries, enabling employees to undergo preventive medical tests and facilitating participation in company-supported fitness programmes.To underline the importance of health and safety, we have conducted first aid, emergency response and security-related training courses and toolbox meetings where applicable. In 2011, the relevant subsidiaries in both BML and BOL achieved 100% compliance with required Security, Safety and Emergency training and preparedness measures (e.g. in 2011 FTS Hofftrans conducted 65 safety and fire trainings (+ 25%)).

Education and training

Burando Maritime Services insists upon qualified and well-trained employees. Any further or ongoing training needs are identified as part of annual employee appraisals and followed up on as appropriate.

2011

2010

2009

0,00% 2,00% 4,00% 6,00% 8,00% 10,00%

Burando Oil Logistics (BOL)

Burando Maritime Logistics (BML)

Absenteeism 2009 - 2011

2011

2010

2009

0 2 4 6 8

Toolbox meetingsFendercare

Toolbox meetings SSL

Safety & Operations meetings STRFendercare

Security training STR

Number of trainings and meetings


In the future, we aim to further strengthen our community involvement activities in a more targeted way, along themes that relate to our core activities, competences and interests. We are also investigating cooperative agreements with other organisations, such as knowledge institutions and NGOs, to see how we can best add value to society.

Labour practice

As of December 2011, we employed 137 people. Approximately 9% of our workforce is female, and approximately 96% of our employees work full-time. Collective health and pension agreements are available to all our employees.

Health & Safety

Our Health & Safety activities to date include creating a single centralised safety, health and welfare service for all Burando Maritime Services subsidiaries, enabling employees to undergo preventive medical tests and facilitating participation in company-supported fitness programmes.To underline the importance of health and safety, we have conducted first aid, emergency response and security-related training courses and toolbox meetings where applicable. In 2011, the relevant subsidiaries in both BML and BOL achieved 100% compliance with required Security, Safety and Emergency training and preparedness measures (e.g. in 2011 FTS Hofftrans conducted 65 safety and fire trainings (+ 25%)).

Education and training

Burando Maritime Services insists upon qualified and well-trained employees. Any further or ongoing training needs are identified as part of annual employee appraisals and followed up on as appropriate.

2011

2010

2009

0,00% 2,00% 4,00% 6,00% 8,00% 10,00%



Absenteeism 2009 - 2011

2011

2010

2009

0 2 4 6 8

Toolbox meetingsFendercare

Toolbox meetings SSL

Safety & Operations meetings STRFendercare

Security training STR

Number of trainings and meetings


Sustainability and Business Assurance

Business Assurance

In 2011, we appointed a Chief Support Officer (CSO) to anchor the supporting processes in our organisation and to strengthen our management team. The CSO will manage and, where necessary, restructure our supporting functions, including QHSE (management system and compliance), HR, IT and Communications.

Management System Certification

Where applicable and relevant, we retained our management system certification in 2011. More certification details are given in the double-page illustrations in this report.


Sustainability and Business Assurance

Business Assurance

In 2011, we appointed a Chief Support Officer (CSO) to anchor the supporting processes in our organisation and to strengthen our management team. The CSO will manage and, where necessary, restructure our supporting functions, including QHSE (management system and compliance), HR, IT and Communications.


Where applicable and relevant, we retained our management system certification in 2011. More certification details are given in the double-page illustrations in this report.





CUSTOMS

N O S M O K I N G


N O S M O K I N G

Service Terminal Rotterdam

The annual ISPS compliance audit, conducted by the authorised body, reported no major ISPS compliance issues.

The annual audit in accordance with teh Seveso regulation (BRZO) reported one issue. Appropriate actions have been taken.

Major Hazard Prevention (BRZO) and Port Security (ISPS)

01

Burando Maritime Services

We sponsored two major international initiative, donated almost3.000 euro at home base initiatives and promoted/actively participated at local cycling and football events.


4


Fendercare and SSL held regular toolbox meetings in accordance with SCC, and also conducted periodical drills and provided training to ensure compliance with ISPS and ISO 14001.

In 2011, we achieved a 100% success rate for training and education of relevant staff.

Education, training, and exercises (drills)


Our ISO 9001 and 14001 management system retained Det Norske Veritas certification. Two of our entities (Fendercare and SSL) are also certified in accordance with the Safety, Health and Environment Checklist Contractors (SCC). These certifications emphasise our commitment to the welfare of our people, customers and community.


Burando Maritime Services (BMS)




CUSTOMS

N O S M O K I N G


N O S M O K I N G


The annual ISPS compliance audit, conducted by the authorised body, reported no major ISPS compliance issues.

The annual audit in accordance with teh Seveso regulation (BRZO) reported one issue. Appropriate actions have been taken.

Major Hazard Prevention (BRZO) and Port Security (ISPS)

01


We sponsored two major international initiative, donated almost3.000 euro at home base initiatives and promoted/actively participated at local cycling and football events.


4


Fendercare and SSL held regular toolbox meetings in accordance with SCC, and also conducted periodical drills and provided training to ensure compliance with ISPS and ISO 14001.

In 2011, we achieved a 100% success rate for training and education of relevant staff.

Education, training, and exercises (drills)


Our ISO 9001 and 14001 management system retained Det Norske Veritas certification. Two of our entities (Fendercare and SSL) are also certified in accordance with the Safety, Health and Environment Checklist Contractors (SCC). These certifications emphasise our commitment to the welfare of our people, customers and community.






CUSTOMS

N O S M O K I N G


N O S M O K I N G



Major/lethal injuries 0 | 0% 0 | 0% Environmental incidents 2 | -78% 0 | -100% Damages/claims 14 | +27% 13 | -7% Non-compliance (permits) 6 | +50% 2 | -33% Fines & periodic penalties 6 | 0% 0 | 0%

Incidents and non compliance


Electricity [kWh] 278.366 | +38% Natural Gas [m3] 1.108.846 | +18% Oil [ltr] 3.302 | -40% Water [m3] 15.820 | -31% Gasoil [m3] 323 | -47% CO2 emissions [ton] 23.513 | +14% Solid waste [kg] 93.452 | -96% Hazardous waste (fluid) [m3] 1.376 | -78%

Consumptions and emissions




CUSTOMS

N O S M O K I N G


N O S M O K I N G



Major/lethal injuries 0 | 0% 0 | 0% Environmental incidents 2 | -78% 0 | -100% Damages/claims 14 | +27% 13 | -7% Non-compliance (permits) 6 | +50% 2 | -33% Fines & periodic penalties 6 | 0% 0 | 0%

Incidents and non compliance


Electricity [kWh] 278.366 | +38% Natural Gas [m3] 1.108.846 | +18% Oil [ltr] 3.302 | -40% Water [m3] 15.820 | -31% Gasoil [m3] 323 | -47% CO2 emissions [ton] 23.513 | +14% Solid waste [kg] 93.452 | -96% Hazardous waste (fluid) [m3] 1.376 | -78%

Consumptions and emissions

Safety & Legal Compliance

BMS gives continuous attention to preventing incidents and conforming to all legal requirements, and in 2011 we saw further improvements to our safety performance and legal compliance. Any and all incidents are registered, investigated and documented, and we are very serious about learning all we can from such events. We also keep track of any claims, damages, fines and penalties. For the purposes of clear and accurate reporting and evaluation of incidents, we have defined six categories:

Category 1: Near misses

Category 2: Small incident without absence

Category 3: Medium incident with absence

Category 4: Major incident/lethal injuries

Category 5(a/b): Environmental incidents

Figures concerning incidents and non-conformities within both BML and BOL are given in the double-page illustrations. It is important to bear in mind that increases in reported incidents – especially “near misses” – are often related to the improvement of monitoring and reporting systems rather than to any increase in the actual frequency of such incidents.

We continue to investigate and introduce further corrective and preventative measures as appropriate. These measures will not only improve the reliability of our operations, but, most importantly, they will help to create a safe and healthy environment for our employees, customers, suppliers and communities.


Safety & Legal Compliance

BMS gives continuous attention to preventing incidents and conforming to all legal requirements, and in 2011 we saw further improvements to our safety performance and legal compliance. Any and all incidents are registered, investigated and documented, and we are very serious about learning all we can from such events. We also keep track of any claims, damages, fines and penalties. For the purposes of clear and accurate reporting and evaluation of incidents, we have defined six categories:

Category 1: Near misses

Category 2: Small incident without absence

Category 3: Medium incident with absence

Category 4: Major incident/lethal injuries

Category 5(a/b): Environmental incidents

Figures concerning incidents and non-conformities within both BML and BOL are given in the double-page illustrations. It is important to bear in mind that increases in reported incidents – especially “near misses” – are often related to the improvement of monitoring and reporting systems rather than to any increase in the actual frequency of such incidents.

We continue to investigate and introduce further corrective and preventative measures as appropriate. These measures will not only improve the reliability of our operations, but, most importantly, they will help to create a safe and healthy environment for our employees, customers, suppliers and communities.


Legal Framework

Both Service Terminal Rotterdam (STR) and Ship Spares Logistics (SSL) hold up-to-date environmental permits. A comprehensive management system in accordance with ISO 14001 is in place to oversee compliance with all of the legal, regulatory and other requirements that apply to Burando Maritime Services and our activities. Regular inspections and tours of our premises are also conducted by our own staff, external auditors and regulatory officials in order to ensure full and proper compliance.

Due to the nature of our activities at the Service Terminal we are also required to comply with Seveso-II regulations and the International Ship and Port facility Security code (ISPS). In 2011, inspections and auditing reported just a single finding.

EBIS

In addition to an ISO 14001 management system, FTS Hofftrans and Nature Group have both subscribed to the European Barge Inspection Scheme (EBIS). Established on 1 July 1998, EBIS has been developed by oil and chemical companies as part of their commitment to improving the safety of tanker barging operations. Barging is an important means of distributing oil and chemical products within Europe, and well-run barges play an important part in reducing the risk of accidents or pollution. The main aim of EBIS is to exchange objective safety and quality data on tank barges, of which an EBIS member company may consider the use or the reception at its terminal.

The whole of the FTS Hofftrans fleet meets the requirements laid down by EBIS, and is subject to periodical inspections carried out both internally and by independent EBIS inspectors.

Green Award

As a reflection of our sustainability ambitions, in 2011 we joined the Green Award programme. Green Award certified ships are extra clean and extra safe.

To date, the following self-owned ships are Green Awarded (FTS Hofftrans):

- Marilene

- Isabella

- Leonore

- Ariane

- Laurentien

In addition, Green Award ships are entitled to various financial and non-financial benefits. By rewarding high safety and environmental standards in shipping, the Green Award programme makes above-standard ship operation more attractive economically. The Green Award certification scheme is open to oil tankers, chemical tankers and dry bulk carriers from 20,000 DWT and upwards, as well as LNG carriers and inland navigation vessels.


Legal Framework

Both Service Terminal Rotterdam (STR) and Ship Spares Logistics (SSL) hold up-to-date environmental permits. A comprehensive management system in accordance with ISO 14001 is in place to oversee compliance with all of the legal, regulatory and other requirements that apply to Burando Maritime Services and our activities. Regular inspections and tours of our premises are also conducted by our own staff, external auditors and regulatory officials in order to ensure full and proper compliance.

Due to the nature of our activities at the Service Terminal we are also required to comply with Seveso-II regulations and the International Ship and Port facility Security code (ISPS). In 2011, inspections and auditing reported just a single finding.

EBIS

In addition to an ISO 14001 management system, FTS Hofftrans and Nature Group have both subscribed to the European Barge Inspection Scheme (EBIS). Established on 1 July 1998, EBIS has been developed by oil and chemical companies as part of their commitment to improving the safety of tanker barging operations. Barging is an important means of distributing oil and chemical products within Europe, and well-run barges play an important part in reducing the risk of accidents or pollution. The main aim of EBIS is to exchange objective safety and quality data on tank barges, of which an EBIS member company may consider the use or the reception at its terminal.

The whole of the FTS Hofftrans fleet meets the requirements laid down by EBIS, and is subject to periodical inspections carried out both internally and by independent EBIS inspectors.

Green Award

As a reflection of our sustainability ambitions, in 2011 we joined the Green Award programme. Green Award certified ships are extra clean and extra safe.

To date, the following self-owned ships are Green Awarded (FTS Hofftrans):

- Marilene

- Isabella

- Leonore

- Ariane

- Laurentien

In addition, Green Award ships are entitled to various financial and non-financial benefits. By rewarding high safety and environmental standards in shipping, the Green Award programme makes above-standard ship operation more attractive economically. The Green Award certification scheme is open to oil tankers, chemical tankers and dry bulk carriers from 20,000 DWT and upwards, as well as LNG carriers and inland navigation vessels.


Operations


Alongside our day-to-day operational activities, we also attended closely to the building and installation of five new onshore tanks (TP200), expected to be fully operational at the beginning of 2012.

STR’s onshore heavy-fuel storage activities (which began in mid-2005) continue at a steady and constant rate, as demonstrated by the throughput/terminal ratio (≈ 27).In the graph and the double-page illustration below you will find the operational highlights of the Service Terminal Rotterdam.

The supply of nitrogen to Lay-by and STS vessels is also addressed in the double-page illustration. Demand for and supply of nitrogen has been steadily increasing since 2008.

300

250

200

150

100

50

0

2008 2009 2010 2011

1.200.000

1.000.000

800.000

600.000

400.000

200.000

0

Total vessels Lay-by

Total vessels STS

Total transshipped (in MT)

Ship-to-ship transshipment



Operations


Alongside our day-to-day operational activities, we also attended closely to the building and installation of five new onshore tanks (TP200), expected to be fully operational at the beginning of 2012.

STR’s onshore heavy-fuel storage activities (which began in mid-2005) continue at a steady and constant rate, as demonstrated by the throughput/terminal ratio (≈ 27).In the graph and the double-page illustration below you will find the operational highlights of the Service Terminal Rotterdam.

The supply of nitrogen to Lay-by and STS vessels is also addressed in the double-page illustration. Demand for and supply of nitrogen has been steadily increasing since 2008.

300

250

200

150

100

50

0

2008 2009 2010 2011

1.200.000

1.000.000

800.000

600.000

400.000

200.000

0

Total vessels Lay-by

Total vessels STS

Total transshipped (in MT)

Ship-to-ship transshipment






CUSTOMS

N O S M O K I N G


N O S M O K I N G

FTS HofftransBunkering (MTx1.000) 6.152 | -3%Inter refinery (MTx1.000) 1.823 | -33%

Transshipment


Export barges 590 | -4% Import vessels 122 | +65% Oil imported (m3x1.000) 1.828 | +6% Oil exported (m3x1.000) 1.843 | +4%

Storage


# Lay by vessels 275 | 0% # STS vessels 193 | -2% Transhipped (MTx1.000) 840 | -20% Nitrogen supplied (m3x1.000) 863 | +9%

Ship-to-Ship activities


Trefoil Trading

160.000cbm Marine Gasoil delivered(2290 deliveries by barge)




CUSTOMS

N O S M O K I N G


N O S M O K I N G

FTS HofftransBunkering (MTx1.000) 6.152 | -3%Inter refinery (MTx1.000) 1.823 | -33%

Transshipment


Export barges 590 | -4% Import vessels 122 | +65% Oil imported (m3x1.000) 1.828 | +6% Oil exported (m3x1.000) 1.843 | +4%

Storage


# Lay by vessels 275 | 0% # STS vessels 193 | -2% Transhipped (MTx1.000) 840 | -20% Nitrogen supplied (m3x1.000) 863 | +9%

Ship-to-Ship activities


Trefoil Trading

160.000cbm Marine Gasoil delivered(2290 deliveries by barge)

FTS Hofftrans

A decade ago, FTS Hofftrans set the important objective of maintaining an entirely doubled-hulled fleet. As of 2011, this goal has been achieved: all activities are now performed with double-hull vessels. FTS Hofftrans now owns and operates more than 20 such vessels, the largest of which has a capacity of 6,745 tonnes. In 2011, FTS Hofftrans had a market share in the Rotterdam harbour of almost 30%.

Trefoil Trading

2011 was Trefoil’s first full business year, and it served to show how much value Trefoil can add to global petroleum trading and marine gasoil supply activities in the ARA region. The year saw Trefoil respond to continuing high demand for marine gasoil, successfully delivering around 160,000 m3 to their satisfied customers.


FTS Hofftrans

A decade ago, FTS Hofftrans set the important objective of maintaining an entirely doubled-hulled fleet. As of 2011, this goal has been achieved: all activities are now performed with double-hull vessels. FTS Hofftrans now owns and operates more than 20 such vessels, the largest of which has a capacity of 6,745 tonnes. In 2011, FTS Hofftrans had a market share in the Rotterdam harbour of almost 30%.

Trefoil Trading

2011 was Trefoil’s first full business year, and it served to show how much value Trefoil can add to global petroleum trading and marine gasoil supply activities in the ARA region. The year saw Trefoil respond to continuing high demand for marine gasoil, successfully delivering around 160,000 m3 to their satisfied customers.


Highlights and details of 2011 performances are presented in the following double-page illustration.

Ship Spares Logistics2011 saw a large increase in road transports and barge deliveries for Ship Spares Logistics. Since the opening of office and warehouse facilities in Amsterdam in 2010, we have also had a large number of additional truck deliveries as a result of our new daily groupage transfer service to and from Amsterdam. These figures are included in the delivery quantities for 2011.

Fendercare BeneluxDue to the growing demand for chemical hoses, Fendercare has continued to increase its hose stock drastically since 2009. In 2011, we can now provide dedicated hoses for each specific cargo anywhere at any time. Increased demand for sensitive and high-quality products for the chemical trade has also led Fendercare to review its procedures regarding hose cleaning and mobilisation prior to delivery. The new methods in cargo hose cleaning are fundamental to meeting and maintaining the highest quality and safety standards.STS operations

Burando Customs ServicesIn 2011 Burando Customs Services continued as an independent entity providing solutions for customs handling and specific logistic, administrative and fiscal issues. Besides clearing customs, we also supported clients with innovative concepts for customs licensing and complex logistical issues.

Burando Rental ServicesIn 2011, Burando Rental Services provided consultancy and solutions to a range of maritime and industrial clients experiencing difficulties with liquid bulk cargoes. Thanks to our 24/7 availability and our team of qualified mechanics and field technicians, we were able to significantly reduce our clients’ down-time in cases of emergency breakdown, onboard pump failures and new system tests.

2011

2010

2009

0 10 20 30 40

Chemicals with att. MM

Biodiesel

JET

Gasoline/Naphta

Gasoil 16 3 5

Crude oil

Fuel oil

STS operations


OperationsBurando Maritime Logistics

Highlights and details of 2011 performances are presented in the following double-page illustration.

Ship Spares Logistics2011 saw a large increase in road transports and barge deliveries for Ship Spares Logistics. Since the opening of office and warehouse facilities in Amsterdam in 2010, we have also had a large number of additional truck deliveries as a result of our new daily groupage transfer service to and from Amsterdam. These figures are included in the delivery quantities for 2011.

Fendercare BeneluxDue to the growing demand for chemical hoses, Fendercare has continued to increase its hose stock drastically since 2009. In 2011, we can now provide dedicated hoses for each specific cargo anywhere at any time. Increased demand for sensitive and high-quality products for the chemical trade has also led Fendercare to review its procedures regarding hose cleaning and mobilisation prior to delivery. The new methods in cargo hose cleaning are fundamental to meeting and maintaining the highest quality and safety standards.STS operations

Burando Customs ServicesIn 2011 Burando Customs Services continued as an independent entity providing solutions for customs handling and specific logistic, administrative and fiscal issues. Besides clearing customs, we also supported clients with innovative concepts for customs licensing and complex logistical issues.

Burando Rental ServicesIn 2011, Burando Rental Services provided consultancy and solutions to a range of maritime and industrial clients experiencing difficulties with liquid bulk cargoes. Thanks to our 24/7 availability and our team of qualified mechanics and field technicians, we were able to significantly reduce our clients’ down-time in cases of emergency breakdown, onboard pump failures and new system tests.

2011

2010

2009

0 10 20 30 40

Chemicals with att. MM

Biodiesel

JET

Gasoline/Naphta

Gasoil 16 3 5

Crude oil

Fuel oil

STS operations


OperationsBurando Maritime Logistics




CUSTOMS

N O S M O K I N G


N O S M O K I N G

Fendercare Benelux

Fenders 48 | -21%Hoses 136 | +2%Total 257 | 0%

Rental orders


14 677Pumping projects Cleaning hoses orders

Activities


By cranebarge 1570 | +73%By road 3542 | +143%

Deliveries

Fendercare Benelux

Total operations 57 | +54%

Ship-to-Ship operations


4000

3000

2000

1000

02009 2010 2011

Deliveries by cranebarge

Deliveries by road

0 20 40 60

2011

2010

2009

Total operations (#)Share bio diesel (#)

Share fuel oil (#)




CUSTOMS

N O S M O K I N G


N O S M O K I N G

Fendercare Benelux

Fenders 48 | -21%Hoses 136 | +2%Total 257 | 0%

Rental orders


14 677Pumping projects Cleaning hoses orders

Activities


By cranebarge 1570 | +73%By road 3542 | +143%

Deliveries

Fendercare Benelux

Total operations 57 | +54%

Ship-to-Ship operations


4000

3000

2000

1000

02009 2010 2011

Deliveries by cranebarge

Deliveries by road

0 20 40 60

2011

2010

2009

Total operations (#)Share bio diesel (#)

Share fuel oil (#)

Future developmentsStorage expansion

The second phase of the expansion of the STR terminal starts in 2012 and will utilise the latest techniques and technologies. This expansion will enable STR to become an even more flexible and customer-friendly terminal.(July 2012: second phase completed and in operations since 2nd quarter 2012).

Green Award

The introduction of the Green Award in the inland shipping industry was a major sustainability development in 2011. Burando Oil Logistics aims to have its complete fleet, where possible, Green Award certified.

Supply of nitrogen by pipeline

Nitrogen demand has steadily increased over the past few years. In the near future, therefore, we plan to deliver nitrogen to visiting ships by a pipeline, instead of by bulk tank. Delivery by pipeline decreases safety risks and is more environmentally friendly.

Fleet expansion

FTS Hofftrans and Trefoil will all expand their fleets in 2012 with newly built vessels. These vessels will be built according to the latest developments in safety and environmental protection technology.

Following developments on liquefied natural gas (LNG)

The upcoming tightening of the emission regulations for the North Sea SECA (Sulphur Emission Control Area) in 2015 will undoubtedly heavily influence the marine bunker business in the ARA region. Further introduction of NOx reductions for new ships in 2016 has forced the maritime industry to look into different compliance options. Ship owners are considering the installation of scrubbers (to combat sulphur emissions) combined with selective catalytic reduction systems (to reduce NOx), in addition to switching to gasoil (an expensive option from an operational perspective) and introducing LNG as an energy source to fuel ships.

Burando Oil Logistics believes it will need to extend its service offerings to accommodate these new developments. BOL is therefore preparing itself to cater to these new demands by adding additional activities in gasoil supply (through its subsidiary Trefoil), investing in additional barge capacity for low sulphur gasoil, and positioning itself to become a key physical supplier of LNG to ships. As Rotterdam is the second largest bunker port in the world and LNG is available in the port through the GATE terminal, Rotterdam seems the logical location for the further development of this LNG bunker activity. Burando is currently investigating the various opportunities offered by the introduction of LNG as bunker fuel. Potential responses may include building the required barging capacity to supply large-size vessels, or providing secondary storage of LNG to guarantee its availability.


Future developmentsStorage expansion

The second phase of the expansion of the STR terminal starts in 2012 and will utilise the latest techniques and technologies. This expansion will enable STR to become an even more flexible and customer-friendly terminal.(July 2012: second phase completed and in operations since 2nd quarter 2012).

Green Award

The introduction of the Green Award in the inland shipping industry was a major sustainability development in 2011. Burando Oil Logistics aims to have its complete fleet, where possible, Green Award certified.

Supply of nitrogen by pipeline

Nitrogen demand has steadily increased over the past few years. In the near future, therefore, we plan to deliver nitrogen to visiting ships by a pipeline, instead of by bulk tank. Delivery by pipeline decreases safety risks and is more environmentally friendly.

Fleet expansion

FTS Hofftrans and Trefoil will all expand their fleets in 2012 with newly built vessels. These vessels will be built according to the latest developments in safety and environmental protection technology.

Following developments on liquefied natural gas (LNG)

The upcoming tightening of the emission regulations for the North Sea SECA (Sulphur Emission Control Area) in 2015 will undoubtedly heavily influence the marine bunker business in the ARA region. Further introduction of NOx reductions for new ships in 2016 has forced the maritime industry to look into different compliance options. Ship owners are considering the installation of scrubbers (to combat sulphur emissions) combined with selective catalytic reduction systems (to reduce NOx), in addition to switching to gasoil (an expensive option from an operational perspective) and introducing LNG as an energy source to fuel ships.

Burando Oil Logistics believes it will need to extend its service offerings to accommodate these new developments. BOL is therefore preparing itself to cater to these new demands by adding additional activities in gasoil supply (through its subsidiary Trefoil), investing in additional barge capacity for low sulphur gasoil, and positioning itself to become a key physical supplier of LNG to ships. As Rotterdam is the second largest bunker port in the world and LNG is available in the port through the GATE terminal, Rotterdam seems the logical location for the further development of this LNG bunker activity. Burando is currently investigating the various opportunities offered by the introduction of LNG as bunker fuel. Potential responses may include building the required barging capacity to supply large-size vessels, or providing secondary storage of LNG to guarantee its availability.


Final wordsAccuracy and materiality

Our systems allow us to measure and monitor many aspects of our operational perfor-mance in detail. Where such measurements are not yet possible, we have used recognised, publically available conversion factors for presenting data calculations. Conversion factors have been used to calculate our carbon footprint, our electricity, water and paper consumption, and the waste produced in our offices. To avoid under-estimation of these figures, we have, on this occasion, added 10% to our calculated figures. All measured and/or calculated non-financial data presented in this report are unaudited.

Transparency

Burando’s 2011 Sustainability Report aims to provide a full and transparent picture of the company’s performance for the year. It has been completed in accordance with internationally recognised principles of transparency (e.g. GRI Sustainable Reporting Guidelines, Green House Gases Protocol, Greenhouse Gas Conversion Factors for Company Reporting). In addition, this report provides relevant data in accordance with the Transportation of Dangerous Goods Act (ADN).


Final wordsAccuracy and materiality

Our systems allow us to measure and monitor many aspects of our operational perfor-mance in detail. Where such measurements are not yet possible, we have used recognised, publically available conversion factors for presenting data calculations. Conversion factors have been used to calculate our carbon footprint, our electricity, water and paper consumption, and the waste produced in our offices. To avoid under-estimation of these figures, we have, on this occasion, added 10% to our calculated figures. All measured and/or calculated non-financial data presented in this report are unaudited.

Transparency

Burando’s 2011 Sustainability Report aims to provide a full and transparent picture of the company’s performance for the year. It has been completed in accordance with internationally recognised principles of transparency (e.g. GRI Sustainable Reporting Guidelines, Green House Gases Protocol, Greenhouse Gas Conversion Factors for Company Reporting). In addition, this report provides relevant data in accordance with the Transportation of Dangerous Goods Act (ADN).



Annexes


Annexes

2) Emissions and consumption

Energy and utility consumption

2009 2010 2011

Electricity consumption ratio1

(defined as: electricity consumption per exported ton)

(2,065,121 kWh/1,677,782 m3 =)

1.23 kWh/m3

(2,165,861 kWh/1,772,125 m3 =)

1.22 kWh/m3

(2,302,478 kWh/1,827,797 m3 =)

1.26 kWh/m3

Electricity consumption SSL3

NA 201,762 kWh 278,366 kWh

Gas consumption1 1,232,452 m3 1,348,470 m3 1,104,595 m3

Gas consumption3 NA 9,335 m3 4,251 m3

Oil (heating consumption SSL)

NA 5,523 lt 3,302 lt

Water consumption1 17,945 m3 20,589 m3 15,679 m3

Water consumption3 NA 144 m3 141 m3

Gasoil consumption ratio2

(defined as: gasoil consumption per transported ton)

(5,587,000 m3/8,147,873 MT=)

0.69 m3/MT

(5,763,000 m3/9,087,290 MT=)

0.63 m3/MT

(6,076,000 m3/7,975,061 MT=)

0.76 m3/MT

Gasoil consumption BML

565 m3 610 m3 323 m3

1Consumption by STR 2 Consumption by FTS Hofftrans 3 Consumption by SSL (R’dam, A’dam)


Annex A: Facts & Figures1) Safety and compliance

Burando Maritime Logistics - BMLIncidents and non - conformance

Category 1 - Near miss

Category 2 - Small, without absence

Category 3 - Medium, without absence

Category 4 - Major/Lethal injuries

Category 5a - Environmental incidentsown activities

Category 5b - Environmental incidentsactivities by other parties

Damages

2009 2010 2011

5 11 7

4 3 3

0 0 0

0 0 0

4 9 2

1 0 0

2009 2010 2011Burando Oil Logistics - BOLIncidents and non - conformance







Odour nuisance

Noise pollution

Non - compliance

Damages - behavioural

Damages - technical

0 16 19

0 0 0

1 0 0

0 0 0

3 5 0

3 2 3

1 0 0

0 0 0

4 3 2

2 7 6

5 7 7

3 11 14

2) Emissions and consumption

Energy and utility consumption

2009 2010 2011

Electricity consumption ratio1

(defined as: electricity consumption per exported ton)

(2,065,121 kWh/1,677,782 m3 =)

1.23 kWh/m3

(2,165,861 kWh/1,772,125 m3 =)

1.22 kWh/m3

(2,302,478 kWh/1,827,797 m3 =)

1.26 kWh/m3

Electricity consumption SSL3

NA 201,762 kWh 278,366 kWh

Gas consumption1 1,232,452 m3 1,348,470 m3 1,104,595 m3

Gas consumption3 NA 9,335 m3 4,251 m3

Oil (heating consumption SSL)

NA 5,523 lt 3,302 lt

Water consumption1 17,945 m3 20,589 m3 15,679 m3

Water consumption3 NA 144 m3 141 m3

Gasoil consumption ratio2

(defined as: gasoil consumption per transported ton)

(5,587,000 m3/8,147,873 MT=)

0.69 m3/MT

(5,763,000 m3/9,087,290 MT=)

0.63 m3/MT

(6,076,000 m3/7,975,061 MT=)

0.76 m3/MT

Gasoil consumption BML

565 m3 610 m3 323 m3

1Consumption by STR 2 Consumption by FTS Hofftrans 3 Consumption by SSL (R’dam, A’dam)


Annex A: Facts & Figures1) Safety and compliance

Burando Maritime Logistics - BMLIncidents and non - conformance







Damages

2009 2010 2011

5 11 7

4 3 3

0 0 0

0 0 0

4 9 2

1 0 0

2009 2010 2011Burando Oil Logistics - BOLIncidents and non - conformance







Odour nuisance

Noise pollution

Non - compliance

Damages - behavioural

Damages - technical

0 16 19

0 0 0

1 0 0

0 0 0

3 5 0

3 2 3

1 0 0

0 0 0

4 3 2

2 7 6

5 7 7

3 11 14

3) Carbon footprint


Process related emissions in 2011 CO2 (Ton) Nox (Ton)

23,513

Sox (Kg.) PM (Kg.)

282 99 12,462

4) Quantity transshipped per ADN class

ADN Class 2008 2009 2010 2011

3 435,187 MT 461,400 MT 675,800 MT 513,333 MT

6,1 97,865 MT 54,523 MT 75,568 MT 53,672 MT

8 53,260 MT 40,241 MT 57,976 MT 28,693 MT

9 328 MT - - 2,140 MT

Other 352,089 MT 193,897 MT 237,931 MT 242,270 MT

Total 938,729 MT 750,061 MT 1,047,275 MT 840,108 MT

Reported by J. N. Verhoef (XBA0004657), Safety Advisor Transportation of Dangerous Goods.


3) Carbon footprint


Process related emissions in 2011 CO2 (Ton) Nox (Ton)

23,513

Sox (Kg.) PM (Kg.)

282 99 12,462

4) Quantity transshipped per ADN class

ADN Class 2008 2009 2010 2011

3 435,187 MT 461,400 MT 675,800 MT 513,333 MT

6,1 97,865 MT 54,523 MT 75,568 MT 53,672 MT

8 53,260 MT 40,241 MT 57,976 MT 28,693 MT

9 328 MT - - 2,140 MT

Other 352,089 MT 193,897 MT 237,931 MT 242,270 MT

Total 938,729 MT 750,061 MT 1,047,275 MT 840,108 MT

Reported by J. N. Verhoef (XBA0004657), Safety Advisor Transportation of Dangerous Goods.


www.burando.eu

Burando Maritime ServicesTorontostraat 203197 KN Botlek-RTportnumber [email protected]

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Sustainability Report 2011

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