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INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
ExportationsExportations2.796MBD2.796MBD
CabotageCabotage464MBD464MBD
in 2001...in 2001...in 2001...in 2001...Atended:Atended:
Exportations 16%: 450 MBDExportations 16%: 450 MBDCabotage 83%: 389 MBDCabotage 83%: 389 MBD
Atended:Atended: Exportations 16%: 450 MBDExportations 16%: 450 MBD
Cabotage 83%: 389 MBDCabotage 83%: 389 MBD
2
Wide opening to the maritime
sector...
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
8 Lakemaxes 8
2 Aframaxes 18
2 Panamaxes 18
4 Producteros 5
2 Asfalteros 18
2 Gaseros 18
1 Lubricants 18
21 Total 15
Age
Zeus / Proteo / Icaro / ParnasoTeseo / Eos / Nereo / Hero
Values as of Dec. ‘01
Ambrosio / Morichal
Paria / Moruy
S. Duim / M. SayaleroB. Palacios / P. León
Guanoco / Inciarte
Yavire / Paramacay
Caura
SIM
PL
E
HU
LL
Entry limitations to the USA
Vessel reaching the end of useful life
3
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
EXPORTATIONcrudes and products Total 2.796 MBD
CABOTAGEcrudes and products Total 464 MBD
Volume controlledVolume controlledby PDVSAby PDVSA
VesselsVesselsHired Hired PDVSAPDVSA
1.954 MBD / 70%
392 MBD / 14%FOB Sales
VesselVesselss
PDVMPDVM 450 MBD/16%
PDVMPDVM
389 MBD/83%
75 MBD / 17%
Volume controlledVolume controlledby PDVSAby PDVSA
Vessels Vessels Hired Hired PDVSAPDVSA
4
MARKETING PROMOTING /
MONITORING NEW BUSINESSES AND ASSOCIATIONS
OPERATING STRATEGIC FLEET
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
StrategicStrategicFleetFleet
InternationalInternationalCrudeCrude
AssociationAssociation
InternationalInternationalCrudeCrude
AssociationAssociation InternacionalInternacionalCrudeCrude
AssociationAssociation
NationalNationalCrude Crude
AssociationAssociation
Nac. / IntNac. / IntProductsProducts
AssociationAssociation
5
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
TotalContro
l
StrategicAlliance/Associati
onLOW HIGH
DEGREE OF SPECIALISATION OF MARKET
CER
TA
INTY
OF
DEM
AN
D
LOW
HIGH Transportof CrudesNac. & Int. Internal
Transport
Productos
Internacional
TransportProducts
Lubricants
AsphaltTransport
LPG
LNG
External/Occasion
al
Decides
Crudes / ProductsCrudes / Products
Specialisation Specialisation (Asphalts,GLP,L(Asphalts,GLP,L
ub.)ub.)
Specialisation Specialisation (Asphalts,GLP,L(Asphalts,GLP,L
ub.)ub.)
Develop Associations / Alliances in
Cabotage and Exportation
Develop Associations / Alliances in
Cabotage and Exportation
Maintain/Re-inforce control
of own fleet
Maintain/Re-inforce control
of own fleet
6
• Easy Access• Low Cost• Control on Safety Standards• Unique features when compared to other SA Countries
7
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
• Registration by foreign corporations through a branch or subsidiary• No restriction on nationality of shareholders• No restriction on nationality of management• Registration by Owner• Bareboat Charter Registration• Registration on Lease
8
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
Elimination of:
• Tax barriers• Import Duties• VAT• Customs Fees
9
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
75% of the vessel’s valueor
75% of hire to be usedover a 4 year period
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
10
Vessel Value = £1,000,000 Tax Rebate = £750,000Gross Income = £1,000,000Expenses = £800,000Net Profit before Tax = £300,000Income Tax (34%) = £68,000£68,000 of Tax Rebate = -68,000Net Tax = NilTax Rebate balance usable for 3 yrs. = £682,000
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
11
• Labour• Service Culture
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
12
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
13
0.623.725.3
25.5
91.1
60.1
VenezuelaPanamaLiberiaBahamasGreeceCyprus
INTERNATIONAL LAW FIRM
LONDON GUILDFORD CARDIFF HONG KONG BELGRADE SINGAPORE DUBAI PARIS PIRAEUS ST.PETERSBURG
Promote participation of nacional capitalPromote participation of nacional capital Decrease exportation of currencyDecrease exportation of currency Support the National Merchant MarineSupport the National Merchant Marine Share benefits and risks with allShare benefits and risks with all
Invites investment in VenezuelaInvites investment in Venezuela Modernisation of fleetModernisation of fleet Opens employment opportunitiesOpens employment opportunities Stimulates growth of naval industryStimulates growth of naval industry
14