SOLO ARUBA MARITIME GROUP N.V.

COMPANY PROFILE
The company is committed to satisfying customers requirements by providing the safest and highest quality service in the area of ship-to-ship operations with the aim to becoming a leading company in the overall STS lightering industry

SOLO ARUBA MARITIME GROUP N.V.

COMPANY PROFILE
J. D. VAN DER LINDE MBA BSc (NAUTICAL) MAY 2011

SOLO ARUBA MARITIME GROUP N. V. Pastoor Hendrikstraat 91 San Nicolaas, Aruba Telephone: 5844262 Fax: 5843987 Email: Operations@stsaruba.com

SOLO ARUBA MARITIME GROUP N.V.

CONTENTS Introduction Mission Statement Objectives Expansion of Operation Company Data Management Services Equipment Additional Services STS Statistics Finances

Page 2 2 3 3 4 4 5 5 5 6 7

SOLO ARUBA MARITIME GROUP N.V.

INTRODUCTION
The Solo Aruba Maritime Group N.V. was incorporated on July 2, 2007 and was registered on July 3, 2007 in the Commercial Registry of the Aruba Chamber of Commerce under registry number 36310.0 with the trade name SEA TRANSPORTATION SERVICES. The company had been established to provide specialized services in the area of maritime activities in general and to ship-to-ship activities in particular. The company is in charge and responsible for the FenderCare Marine STS equipment held in depot on the Island of Aruba. The Managing Director Jacinto Leocadio (Leo) Solognier is an ex law student (4 years) that due to circumstances could not complete the study of law. However, Leo is a business executive with a wide managerial experience in marine functions with different international corporations. Leo is presently working with the Valero Aruba Refining Co. N.V. as Marine Administrator. The Managing Director is assisted by the Operations Manager Mr. J. D. (Joe) van der Linde, a certified Master of Business Administration (MBA), a Bachelor of Science in Nautical Studies and a certified Quality Management Systems Associate Auditor, with a wide experience in managerial functions with several international corporations including Shell, Esso, Exxon, INTERCOR, PDVSA, Wickland Oil, and the Coastal Corporation. The Managing Director also receives assistance from the Administration Manager Mrs. Ilda Roxana Connor, a fully qualified Administrator with a wide experience in personnel and secretarial administrative functions with different local companies.

MISSION STATEMENT
The Company is committed to satisfying customers requirements by providing the safest and highest quality service in the area of ship-to-ship operations with the aim to becoming a leading company in the overall STS lightering industry.

SOLO ARUBA MARITIME GROUP N.V.

OBJECTIVES
The objectives of the company for fulfilling the companys mission are: 1. The transshipment of cargo, including but not limited to petroleum products, in the designated areas (transshipment area) from large ships into smaller ships or onto shore installations; 2. The managing of a ships supplier agency; 3. Acting as Agent or Representative of ships owners, shipping companies and ships charterers; 4. Acting as ships expediter and ships supplier, and the dispatching of vessels; 5. The inward/outward clearing and storing and packaging of goods, also the transport or the arranging for the transport of goods, materials and persons by way of the sea; 6. The operation of own or chartered vessels, other crafts and other floating objects; 7. The performing of towing services and the chartering of ships and other vessels; 8. The performing of salvage operations to ships and other vessels; 9. The cleaning, inspection, painting, maintenance and repairs to ships, quays, piers and other objects on the waterfront and in general the executing of hydraulic engineering works; 10. The performing of dredging and diving activities; 11. The cleaning of ships and other floating objects, both under and above the waterline; 12. The providing of support and assistance in the area of labor relation and the organization of the factor labor, the establishing of businesses, the hiring, selection and assigning of personnel, the labor and personnel policy and the education and training of sea-going personnel.

EXPANSION OF OPERATION
The company has been leasing a piece of land from the Aruba Ports Authority inside the fenced area of the port of Barcadera for the storing of the STS equipment. At this site all the STS equipment is inspected, maintained and, when necessary, replaced with new material. From this leased land the required equipment for performing STS operations is transported to the quay where it is lowered into the water or onto a supply vessel for the transport to the vessels participating in the lightering operations. With the assigning of the Barcadera port as the new Container Terminal, the term of the lease will not be extended in August of this year and consequently the STS equipment will have to be moved to an area outside the port of Barcadera. However, a new piece of land of approximately 3000 m has been considered outside the harbor area and a petition has already been made to the Aruba Government for the lease of this piece of land.

SOLO ARUBA MARITIME GROUP N.V.

COMPANY DATA
Company Name: Company Address: Memorandum of Association: Invested capital: Telephone: Fax: Email address: SOLO ARUBA MARITIME GROUP N.V. (SOLO MARINE) Dirkszstraat 34, San Nicolaas 2 July 2007 AWG 50.000 584-4262 (office) 594-3467 (Mobile) 584-3987 Operations@sts.com

MANAGEMENT
Managing Director: Operations Manager: Administration Manager: Jacinto Leocadio (Leo) Solognier J. D. (Joe) van der Linde Ilda Roxana Connor

PRINCIPALS
FENDERCARE MARINE Enterprise House Harveys Lane Seething Norfolk NR15 1EN United Kingdom

SOLO ARUBA MARITIME GROUP N.V.

SERVICES
The SOLO ARUBA MARITIME GROUP N. V. is equipped to provide services for: Crude oil transshipments Fuel oil transshipments Clean oil transshipment Lpg transshipments

EQUIPMENT
The FenderCare equipment in depot comprises: Seven Yokohama pneumatic fenders 3.3 meter diameter x 6.5 meter long Four Yokohama pneumatic fenders 2.0 meter diameter x 3.5 meter long Two Yokohama pneumatic fenders 1.0 meter diameter x 1.5 meter long Several 12 hoses for black service Several 10 hoses for clean service One 8 hose for LPG service Assortment of wires, pennants, shackles, swivels, thimbles Assortment of ropes, lines, lifting strops

ADDITIONAL SERVICES
If required, the company is able to supply sufficient equipment for the execution of two STS operations simultaneously. These STS operations could be a combination of a black, clean and/or LPG transshipment. Although the company is presently only serving the FenderCare Marine with its STS activities, the intention is to expand the services to include other marine activities such as the bunkering of vessels off port. Furthermore, the company is contemplating the purchase of a tugboat/supply vessel for facilitating the transport of equipment, goods and oil spill abatement equipment to and from vessels involved in the STS operations.

SOLO ARUBA MARITIME GROUP N.V.

STS STATISTICS
The yearly ship-to-ship activities since the beginning of operation are as follows: YEAR 2007 2008 2009 2010 2011 NUMBER OF STS 0 30 40 30 30

The company expects the number of STS for 2012 to be around 30.

SOLO ARUBA MARITIME GROUP N.V.

FINANCES
Due to the quite stable sea conditions existing in the protected waters off Aruba and following the marketing activities undertaken by FenderCare, the number of lightering operations off Aruba has been reasonably constant and consequently SOLO MARINE has been able to fulfill its obligations to provide continuous professional service to the FenderCare Company. And as a result of this solid business undertaking the companys turnover has been reasonably high with positive profit results. In the area of future plans and investments it can be mentioned that with the move to the new location outside the harbor of Barcadera, SOLO MARINE will concurrently be expanding in additional equipment and materials such as forklifts, compressors and fenders for the upgrading of its operation and for the continuous improvement of the quality of its services. SOLO MARINE is also planning to further expand its services to include other marine activities such as the bunkering of vessels off port. For this purpose additional fendering is required and which will be newly acquired or leased. In addition SOLO MARINE is contemplating some new investments involving the purchase of a tugboat/supply boat combination for upgrading its delivery of goods, equipment and oil spill abatement equipment to the vessels involved in lightering operations.