MARAN GAS MARITIME Inc.

Totalcostofownershipof
MarinePropulsionEngines

MARAN GAS MARITIME Inc.

Angelicoussis Shipping Group Ltd The fleet

DRY CARGO
avg. age 8.5 yrs
TANKERS
avg. age 6.9 yrs

LNG / LPG
avg. age 3.4 yrs
(897,000 cubic m.)

NO

DWT

Operating

29

5,063,000

On Order

19

3,110,000

Total

48

8,173,000

NO

DWT

Operating

36

7,633,000

On Order

2,235,000

Bareboat out

2,207,000

Total

50

12,075,000

NO

DWT

Operating

498,070

On Order

Total

498,070

MARAN GAS MARITIME Inc.

DefineOwnership
Threebroadcategories:
1.Stateruncompanies
9Ownersofthecargoesthattheshipsarecarrying
9Theydocarealotabouttheiroperatingcostsbut
9Initialinvestmentseemsnottobeaproblemtothemafterthe
politicaldecisiontoexpandthefleetismade.
2.Linercompanies
9Theywillalwaystrytominimizecostandmaximizecargoincome
9Initialinvestmentisveryimportantunlesstheyfight(between
them)forsupremacy.
3.Therestofus
9Initialinvestmentandtimingareveryimportant.

MARAN GAS MARITIME Inc.

Mostofthetimesthefuelbillisnotpaidbytheownersand
again most of the times (with some fine exemptions) the
charterersarenotpreparedtositdownanddiscusswhata
bettershipcanofferthem.
Many Greek Owners compare themselves to taxi drivers.
They are wrong, they are more like bus drivers entitled to
getallthefaresthattheycollectfrompassengersbutalso
cover some of the bus expenses. Many such owners will
notinvestinimprovementsunlesstheyseeapaybacktime
oflessthanfiveyears.

MARAN GAS MARITIME Inc.

Willthenewenvironmentallegislationchangethe
abovedefinitions?
MostprobablyYES,butwhatwillbethenew
StatusQuo?
Whatistheimportanceofupgradingthe
shipyardspecification?

MARAN GAS MARITIME Inc.

OPEX1/1/2009 31/3/2010
Built
Vessel
OPERATINGEXPENSES
Dailyinsurancecost
Dailycrewwages
Dailyothercrewcost
Victualling
ProvisionforDrydocking
Runningrepairs
Surveys
Spares
Stores
Otherpaints
Repairsandmaintenanceradio
station
Lubricants
DailyVesselsVarious&G&A
DailyManagement
DailyTotal
AVERAGE
diff

MTMBUILDINGSPEC.+
MTM2NDHAND
MANAGEMENT
ACQUISITION
2001
2003
1999
2002
1
2
3
4
USD/DAY USD/DAY
USD/DAY USD/DAY
1.119
1.241
1.127
1.305
4.463
4.334
4.759
4.319
247
266
420
222
244
242
273
240
495
629
397
362
324
179
590
249
90
75
112
60
280
364
435
289
261
339
515
590
42
59
50
53
6
634
364
977
9.541

0
475
436
977
9.612

3
14
972
727
507
285
977
977
11.132
9.689
10.410

9.577
8,70%

MARAN GAS MARITIME Inc.

M/E&A/ESPAREPARTS1/1/2009 31/3/2010
MTMBUILDINGSPEC.+
MANAGEMENT
Built

MTM2NDHAND
ACQUISITION

2001

2003

1999

2002

MainEngine(USD)

7.036

7.447

15.643

10.143

DieselGenerators(USD)

10.458

13.622

9.706

11.149

38

46

56

47

Vessel
M/E&A/ESPAREPARTS

DailyTotal(USD/DAY)
AVERAGE(USD/DAY)
diff

42

51
20,95%

MARAN GAS MARITIME Inc.

LUBRICANTSAVERAGEDAILYCONSUMPTION1/1/2009 31/3/2010
Built
Vessel
M/ECylinderOil(ltrs/day)

MTMBUILDINGSPEC.+
MANAGEMENT
2001
2003
1
2
378
287

MTM2NDHAND
ACQUISITION
1999
2002
3
4
653
506

333

579

AVERAGE(ltrs/day)
diff
M/Esystemoil(ltrs/day)

74,15%
64

AVERAGE(ltrs/day)
diff
D/Gsoil(ltrs/day)
AVERAGE(ltrs/day)
diff

70

113

67

25
69

3,76%
17

24

52

20

48
50

146,25%

MARAN GAS MARITIME Inc.

MTM2012VLCCPROJECTS
IMPROVEMENTSUNDERCONSIDERATION
A.HYDRODYNAMICIMPROVEMENTS
1.HULLFORM
9DIFFICULTTOESCAPEFMSTANDARDDIMENSIONS,CHARTERERSTENDTOSTAY
WITHTHEKNOWNDESIGNS).

2.HYDRODYNAMICEFFICIENCYDEVICES
9PRESWIRLSTATORALREADYAPPLIED.
9OTHERDEVICES(RUDDERFINS,ADDITIONALNOZZLES,
PBCFETC.)WILLBEDISCUSSEDINMARCH2011.

3.PROPELLERDESIGN
9CAN INCREASE DIAMETER FROM 10.0 M TO 10.4 M. THIS WILL IMPROVE
PROPELLEREFFICIENCY

MARAN GAS MARITIME Inc.

4.REDESIGNTHEACCOMMODATIONTOREDUCEDRAG
9WILLGIVEAMARGINALIMPROVEMENTINEFFICIENCY.
9SHIPYARDSARENEGATIVEBASEDONINCREASEDVIBRATIONCONSIDERATIONS

5.APPLYFOULINGRELEASEPAINTS
9ALREADYAPPLIEDWITHPOSITIVERESULTS.
9SAVINGSLESSTHANWHATWESEEINTHEPRESSBUTSTILLWORTHDOING.

6.AIRBUBBLESCONCEPT
9RESULTSOFRESEARCHSTUDYWILLBEFINALIZEDINMARCH2011.
9EXPECTATIONSVERYPOSITIVE.

7.TWINSKEGCONCEPT
9RESEARCHRESULTSWILLBEAVAILABLEINMARCH2011.

MARAN GAS MARITIME Inc.

B.MAINENGINE
8.MAINENGINERPM
9WAITINGFORTHELAUNCHINGOFNEWVLCCENGINESWHICHWILLHAVE34
RPMLOWERTHANCURRENTLYAVAILABLEENGINESATMCR.

9.ELECTRONICALYCONTROLLEDENGINES
9APPLIEDASSTANDARD SINCETHEYAREMOREEFFICIENTATPARTLOAD.

10.ADDITIONALCYLINDERS DERATING
9PLEASEHAVEALOOKATTHEFOLLOWINGTABLE.
9WITHSOMEFINETUNINGEFFICIENCYCANBEIMPROVEDFURTHER.
9WARTSILA7AND8CYLINDERRTFLEX84ANDRTFLEX82AREALSOUNDER
CONSIDERATION.

MARAN GAS MARITIME Inc.

MARAN GAS MARITIME Inc.

11.TURBOCHARGERS
9 THEFOLLOWINGFOUROPTIONSAREBEINGCONSIDERED:
o TURBOCHARGERCUTOFF
o VARIABLENOZZLEAREA
o METSEQUENTIALTURBOCHARGERCONCEPT
o METHYBRIDTURBOCHARGER

12.ALTERNATIVEFUEL
9 ALMOSTPARTICIPATEDINTHEDSMEPRESENTATIONINBUSANTHREEWEEKS
AGO.
THEEMISSIONREDUCTIONSPRESENTEDTOUSWERE:
CO223%
NOx13%
SOx92%
PM37%
FIRSTIMPRESSIONISPOSITIVE(BETTERTHANUSINGNUCLEARPOWER).

MARAN GAS MARITIME Inc.

C.AUXILIARYPOWERGENERATINGSYSTEM
13.THREEDIFFERENTSYSTEMSAREUNDEREVALUATION
9 SHAFTGENERATOR
9 STEAMTURBOGENARATOR
9 STANDALONEGASTURBINE
INALLCASESTHEINTENTIONISTOMAINTAINTHECURRENTAUXPOWERPLANT
OF THE SHIPS (NO REDUCTION IN THE NUMBER OF THE DIESEL GENERATORS
AVAILABLEONBOARD).

MARAN GAS MARITIME Inc.

Reliability
Irrespectiveoflifetimecostsreliabilityisoneofourmajorconcerns

Whathasbeencreatedinyearscanbedestroyedinasinglemoment
Theterm"ConstructedforMarineUse"isfading
Wehavenoobjectiontonewmorecompactandcheapertoproduce engines
butdesignmarginsshouldremainontheadequateside.
Notallshipyardsarethesame
Machinery installed in a first class yard can perform in a satisfactory way but
wheninstalledinagreenfieldsitecaneasilycauseadisaster.
Thenargumentsofthetype"Myengineisfinebutyourworkersareamateurs"or
"Yourengineshouldbescrappedfromnew"willgobackandforth.
Close cooperation between the yard, the owners and the equipment
manufacturersatthedesignstageiscriticalforthesuccessof anyNBproject.

MARAN GAS MARITIME Inc.

Officersavailabilityandtraining
Thecommentthatwereceivedfromthechiefengineerwhowasservingforthe
first time on a "UMS" vessel with CPP and other advanced (for 1982) features
was:
"AmIinCapeCanaveral?".
TheME/RTFLEXconceptsarestillaheadoftheirtimeasfarascrewunderstanding
andtrainingisconcerned.Itisveryimportanttohavea24/7competentandhard
workingservicenetworkavailable.
Machinerymaintenancerequirements(Aspermakersrecommendations)should
take into account the currently available competency standards of the officers
andthetimeavailableformaintenanceatseaandinport.
Whatcanbeeasytomaintainoncontainershipsthatarecalling ports(evenfora
limitedtime)everytendayscanbeamajorissueonatankerforwhichengine
immobilizationinportismostofthetimesnotgrantedbytheterminals.