Post on 23-Dec-2015
A New Breed in Shipping Finance
Creative Finance GroupGolden Bridge Finance Group
1
Index
Ⅰ. New Industry Entrant, but Growing Rapidly
Ⅱ. Blue Marine Funds by GBAMC
Ⅲ. A new breed in Korean Shipping Funds
Ⅳ. Closing Remarks
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Ⅰ. New Industry Entrant, but Growing Rapidly !
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GoldenBridge Finance Group: Specialized in Alternative Investment.
GoldenBridge Finance Group
Securities CapitalSavings
Bank
Asset Management
Company
GBAMC ranked 11th on Alternative Investment out of 72 AMCs !
Date of Establishment 9 Feb, 1999
C.E.O Jakap Koo
Capital KRW 10 billion
Employee 36 Employees
AUM USD 1.12 billion
Specialty Alternative Investment including
Real estate, Ship Financing, PEF
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■ Real Estate : 609 mil
■ Shipping : 266 mil
■ Other A.I. : 149 mil
■ Stock and bonds : 104 mil
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Total : USD 1.12 billion
GoldenBridge AMC: AUM USD 1.12 billion, a Quarter in Shipping Finance
Portfolio
55%22%
16%7%
Established USD 266 mil AUM in shipping finance within 1~2 years!
• Intensively focused on Alternative Investment segment• Approximately, 90% of our Portfolio invested in the field of
Shipping & Real Estate Finance• Recently, Built up USD 266 mil assets in Shipping Finance
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Ⅱ. Blue Marine Funds by GBAMC
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Blue Marine Fund Series Track Record
No. Ship TypeInvestment
AmountTerm Target Rate Investment Type
GB-Blue Marine Fund 1
Capesize Bulker 20 mil 5 yrs 10.8% BBCHP
GB-Blue Marine Fund 2
15,000 DWT Chemical Tanker *2
10.8 mil 10 yrs 9% BBCHP
GB-Blue Marine Fund 3
Cape, Panamax, Supramax, Kamsarmax
Bulkers
215.2 mil(Contract-
640mil)5 yrs 12~15% Equity
GB-Blue Marine Fund 4
Panamax Bulker 20 mil 10 yrs 9.8% BBCHP
Total USD 266 mil (Contract value : USD 690.8 mil)
Already Launched Blue Marine 1st through 4th Fund
Enter firstly into the market right after confirming the bottom of the industry in mid 2009
Successfully generating minimum 9% to expected 15% in IRR basis
Offered various types of Investment : Dept type, Hybrid type and Pure Equity type
Efficiently managing the owned vessels by outsourcing Shipping Service Companies
* Various Source of Investors : Insurance companies, Savings Banks, Pensions& other Institutional Investors!
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Structure 1: Debt Type Financing
Senior
Bank
GB-Blue Marine Fund
Fund Management
BBCHP
Investment Trust
Senior Loan from the bank
Contractedprice
CharteringIncome
Equity InvestmentBy Charterer
Institutional Investors
Seller
Charterer
SPC(Buyer/Owner)
Junior Loan
From the Fund
Golden
Bridge
AMC
Vessels
Principal&Interest
Principal&Interest
Senior
Bank
GB-Blue Marine Fund
Fund Management
Time Charter
Contract
Investment Trust
Senior Loan from the bank
Contractedprice
CharteringIncome
Institutional Investors
Seller
Charterer
SPC(Buyer/Owner)
Equity investment
From the Fund
Golden
Bridge
AMC
Vessels
Principal&Profit
Principal&Interest
Shipping Service
Company
Service Contract
Shipping relatedServices
Structure 2: Equity Type Financing
Fund Structures
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Ⅲ. A New Breed in Korean Shipping Funds
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Recent Trend: Hybrid & Equity types like BlueMarineFund 3 currently launched
Case 1. Asiapacific SIC 16th set up mid 2010.
: 57K, Bulker
: 55% Senior Loan by SPDB, BBC 5yrs,
Extra Capital Gain expected at sales
Case 2. Badaro SIC 17th set up mid 2010.
: 82K, Bulker * 4
: 40% Senior Loan by BNP Paribas, TC 5yrs with Cargill ,
Extra Capital Gain expected at sales
Case 3. Hi Gold-Ocean Shipping Fund set up mid 2010.
: 56K, Bulker * 2
: BBC 5yrs with first class shipping company,
Extra Capital Gain expected at sales
Case 4. Badaro SIC 14~16th set up mid 2010.
: Bulkers
: 40~60% Senior Loan Raised
: BBCHP 5yrs with first class shipping company,
Profit Sharing at sales at the rate of 2:8
Starting from 2H 2009, Equity type Funds launched for the purpose of an asset play.
Among Korean investors, Shipping Finance considered as not only pursuing Capital gain, but alsogenerating consistent & stable Cash Flow.
More Korean Institutional investors start to look at Shipping finance as their Major Alternativeinvestment Vehicle.
Due to the short history of Equity type investment, Success story needed to facilitate moreinvestors to come on board.
As asset price appreciates, some Investors preferred more risk adverse investment, such as Debttype finance.
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Providing various structures for Different Investors’ Needs & Market Cycles
③ Debt Type Financing
Generating Fixed Interest
over 5 to 10 years
Principal is guaranteed
Participating Bond Issuance is
possible
② Hybrid Type Financing
Debt+Equity type of financing
Pursuance of asset sale for
extra capital gain
Bare Boat Charter contract is
possible
① Equity Type Financing
Pure Asset player type
Consistent cash flow by time
Charter contract
Outsourcing shipping related
businesses
FlatMarket
HardMarket
SoftMarket
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Total Solution for Shipping Financing & Alternative Investment
Well trained and experienced Shipping finance Team
Built up Strategic Cooperation System with various industry players
Directly managing the owned vessels
Providing Total Portfolio Solution for A.I. Investors
Investors increasingly express their interest in Shipping finance.
Allocating Assets in Shipping Finance, Real estate & other Investments
Specialized Shipping Finance Team
Closed deals with Taiwan & Venezuela based companies
Raised Overseas Senior Loan
Close relationship with A.I. Investors
Global Investment Opportunity
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Ⅳ. Closing Remarks
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Providing Financial Solutions for both investors & shipping companies
Major institutional Investors in Korea manage their assets up to approximately USD800 billion.
Over the past 5years, Real Estate investment is the major alternative investmentamong Korean institutional investors.
Exposure of Alternative investments by Korean investors has increased substantially,and Shipping finance becomes a key role in the sector.
Golden Bridge AMC eager to provide Financial solutions for both investors andshipping companies.
Overseas expansion is planned and global partners are secured.
We expect more Golden Bridge Blue Marine funds to come in the near future.
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FL 5, Goldenbridgebuilding, 222, Chungjeongro 3Ga, Seodaemun Gu,Seoul, Korea
Tel: 02) 360-9523 Fax: 02) 360-9559
Golden Bridge AMC Between Investors and Shipping industry