1

NAVEX 4th Edition 2017 Newsletter Economy news

Portuguese Gross Domestic Product (GDP) in-

creased by 2.5% in the third quarter of 2017,

compared with the same period of previous year.

The positive contribution of domestic demand in-

creased, reflecting the acceleration of private con-

sumption, while Investment decelerated.

Consumer prices in Portugal increased 1.4 per-

cent year-on-year in September, accelerating

from 1.1 percent in the previous month. It is the

highest inflation since May, mainly boosted by the

prices of food, transport, miscellaneous goods &

services and housing & utilities. Core inflation

which excludes food and energy rose 1.3%, the

same pace as in August.

Unemployment rate for the 3rd quarter of 2017

was 8.5% keeping a positive trend. This figure is

down 0.3 percentage points (p.p.) from the previ-

ous quarter and 2.0 p.p. from the same quarter of

2016. The unemployed population, estimated at

444 thousand people, corresponded to a quarter-

ly decrease of 3.8% (17.4 thousand fewer people),

in trend with the decreases observed since the

2nd quarter of 2016.

PORTUGAL INTERNATIONAL TRADE

Exports from Portugal increased 5.8 percent

when compared with same period last year to

EUR 4.65 billion in September 2017, mainly due to

higher sales of fuels and lubricants (31.9%),

transport equipment (8.3 %) and industrial sup-

plies (7.2%)

Imports to Portugal jumped 8.1 percent from

the previous year to EUR 5.83 billion in Septem-

ber 2017, mainly boosted by higher purchases of

fuels and lubricants (14.7%), transport equipment

(12.1%) and industrial supplies (11.4%).

The Portuguese trade deficit widened sharply to

EUR 1.18 billion in September 2017 from EUR

1.00 billion in the same month a year earlier.

Your World, Our World.

2

NAVEX 4th Edition 2017 Newsletter Industry news

Your World, Our World.

Portuguese Ports - new record on cargo handled

During the first nine months of the year, the Por-

tuguese ports held a new record, moving 73.4

million tons of goods, a record that exceeds 5.4%

of the previous maximum fixed by the national port

system during the same period of 2016. The succes-

sion of records has the decisive contribution of

Leixo es port, having reached in this period the

highest movement ever,

moving more 951.2 thou-

sand tons than in the same

period last year. Regarding

containerized cargo were handled 2.3 million

TEUs, where transhipment movements represent-

ed 1.1 million TEUs. These aggregated figures rep-

resents a year-on-year growth of 16% and a new

high for the period.

Shipments of 9.700 cbm of steel structures

Following the expertise on project cargoes, NAVEX

has been awarded by the multinational industrial

group, MESSRS MARTIFER, with main activity

based on the metallic constructions sector, to per-

form a transportation of

main structural steelwork

for the newest DJELFA COM-

BINED CYCLE POWER

PLANT. This logistic opera-

tion consists on a “door to

door” service for total

9.700cbm, more than

1.000kms by road and an-

other 1.160kms by sea.

Together with our partners, this operation at LEIX-

OES port has been carried out smoothly and over-

coming all usual difficulties for such big demands.

2017 TRANSPORTES & NEGÓCIOS AWARDS

The 16th edition of TRANSPORTES & NEGÓCIOS

2017 awards, one of the most important recogni-

tions at Portugal, distinguished this year three ETE

Group’s companies. TRANSINSULAR won the cate-

gory of best

Cabotage

shipowner,

TCGL - Terminal de Carga Geral e de Grane is de

Leixo es was recognized as the best multipurpose

terminal operator and NAVEX received the award

of best SHIPPING AGENT which reflects our out-

come and efforts made by our team throughout the

year and the excellence of the services we provide.

Viana do Castelo – Shipment of 39 steel reels

For more than a year, NAVEX started working on

shipment of 39 steel reels with mooring polyester

rope, on total more than 17 thousand cbm, for the

newest SHELL APPOMATTOX, a subsea infra-

structure on Houston. The scope of work consisted

on providing all necessary port logistics services for

this project

and assuring

that cargo

would be

handled in port and loaded as smoothly as possible.

At the end, this shipment was split in two and both

loading opera-

tions were a

complete success

to without any

delays or damages. Partners and customers in-

volved considered that the wide experience of

NAVEX’s on these projects was clearly an advantage

that made a huge difference on operation' success.

3

NAVEX 4th Edition 2017 Newsletter Corporate News

Your World, Our World.

In the third quarter of 2017 the activity of NAVEX

grew 19%, comparing to the same period previous

year, strengthen our market leadership position.

TRANSINSULAR—Africa Express Service

TRANSINSULAR reinforced their AFRICA EX-

PRESS service to Cape Verde, offering a direct

service, every 10 days, from Leixo es and Lisbon to

Mindelo, Praia, Sal and Boavista. This new setup is

considered "the most com-

petitive freight transport

solution between Portugal

and Cape Verde” with the

shortest transit time and direct connections with

Sal and Boavista, which allows to increasing the

competitiveness through the ability to offer inte-

grated multi-modal and door-to-door transport so-

lutions .

ETE Colombia - participate on project TIERRA BOMBA

The project TIERRA BOMBA consists on the exe-

cution of works of coastal protection in the is-

land of Tierra Bomba, on the south of Cartagena

City. ETE Colombia is performing the maritime

transport of the building materials, using two

pushers and two pon-

toons - every day each

train (pusher + pon-

toon) is doing a complete voyage between Baru is-

land and Tierra Bomba island in a distance of 4 nau-

tical miles. The total transport is estimated at 160

000 tons.

Vessel SKANDI HERA – assistance at Lisbon

SKANDI HERA an offshore supply vessel, carrying

manifolds for oil prospecting line to Las Palmas,

called Lisbon for a full crew change. NAVEX was

the shipping Agent

chosen for the assis-

tance. This is the first

time that a vessel of

SAGA SUBSEA went

to Lisbon and, according the Shipowner, the opera-

tion run smoothly and they were very pleased with

the service. They have also informed that will re-

turn, on a very near future to Lisbon, since they

have vessels that frequently pass through this port.

EUROLINE - integration on NAVEX brand

The shipping agent EUROLINE, also a ETE Group’s

company, was fully integrated, brand and all their

staff in the port of Aveiro, into NAVEX organiza-

tion, which represents one sounder step into our

future.

THANKS for all Mr. José Mendes

After 46 year of work with NAVEX, Mr. José

Mendes was timely retired and focus on other

main priorities as from now, not least his family.

Mr. Jose Mendes has had many responsibilities

within NAVEX and, in the last years, has been re-

sponsible for the Liner Department. The ETE Group

Board has decided to perform a ceremony as a

token of appreciation

for all José Mendes has

contributed to NAVEX

and the ETE Group. Our

wishes of all the best on his new, and more relaxed,

functions!

Number of vessels

July August September

166 175 181

Total 3rd Quarter = 522 vessels