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Professionals in liquid bulk logistics

www.vopak.com

Analyst Meeting Singapore November 2007

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Paul GovaartDivision President Asia

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Agenda overview: Paul Govaart

1. Vopak Asia – Introduction

2. Singapore

3. China

4. Asia

5. Summary of projects

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Vopak’s presence in Asia:a unique network coveringmost major ports

Number 1 in Asia:20 terminals in 10 countries

Employees:1,281

Occupancy rate 1H 2007:97%

Revenues Asia FY06:EUR 121.4 mln

EBIT Asia FY06:EUR 74.9 mln

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Vopak’s footprint in AsiaAustralia

– Sydney, DarwinIndonesia

– Tanjung PriokSingapore

– Banyan, Sakra, Penjuru, SebarokMalaysia

– KertihThailand

– MapTaPhutVietnam

– Ho ChiMinhPakistan

– KarachiChina

– Tianjin, Caojing, Zhangjiagang, Ningbo, Xiamen, Lanshan

Japan– Yokohama, Kobe, Kawasaki

Korea– Ulsan

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Occupancy rates and capacityOccupancy rates Asia

96% 96%95%

96%

98%97%

90%

95%

100%

2002 2003 2004 2005 2006 1H 2007

Storage capacity Asia (mln cbm)

0 1 2 3 4 5 6

20022003

200420052006

20072008

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Good results in Asia

EBIT Asia, mln Euro

0

25

50

75

100

2003 2004 2005 2006

Revenues Asia, (mln Euro)

0

25

50

75

100

125

150

2003 2004 2005 2006

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Agenda overview: Paul Govaart

1. Vopak Asia – Introduction

2. Singapore

3. China

4. Asia

5. Summary of projects

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Singapore ‘independent’ storage scene

5

3

11 16

14

1

1513

2

4

6

10

12

8

79

Penjuru

Banyan

0123456789

10

2005 2006 2007 2008 2009

X 1,

000,

000

cbm

Singapore’s 3rd party capacities

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Vopak Singapore Terminals

Sebarok

Banyan

Penjuru

Sakra

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Singapore remains the petroleum HUB for Asia& Australia• Forecast product balances predict continuing west to east

movement, with growing role for Singapore in blending and logistic hub location

• Singapore largest bunkerport in the world ( 30 M ts)

• Singapore big refinery centre and to grow

• Legislative & physical environment supports trading community

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New petrochemical complexes @ Jurong

• Forecast product balances predict continuing west to east movement, with growing role for Singapore in blending and logistic hub location

• ExxonMobil to build 1 m. C2 cracker in Singapore (US$ 4 billion)

• Shell’s US$ 3b. petrochemical complex firmly on track

• Jurong Aromatics to construct US$ 2 billion refinery & Aromatics complex

• New downstream industries emerging

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Vopak Singapore – Banyan Terminal

Expansion of Banyan Terminal

2006 2007 2008 2009

371.800 cbm 165.000 cbm 320.000 cbm 397.500 cbm1.25 M

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Agenda overview: Paul Govaart

1. Vopak Asia – Introduction

2. Singapore

3. China

4. Asia

5. Summary of projects

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Ningbo

Lanshan

Xiamen

Tianjin

• Vopak present in China in the 1950’s with its former trading division

• In 1979 Vopak and Cosco created the first Sino-Foreign JV outside China since the Cultural Revolution

• Vopak was one of the first foreign companies in freight forwarding in the 1980’s in China

• Vopak is the first and largest international tank terminal operator in China:

• Ningbo Terminal in 1993

• Xiamen Terminal in 1994

• Lanshan Terminal in 2000 (acquisition)

• Tianjin Terminal in 2003 (acquisition)

• Caojing Terminal in 2004

• Zhangjiagang Terminal in 2007

Zhangjiagang

Guangzhou

Vopak and the Vopak Joint Ventures employs 600 people and handles 6 millions MTPA with a capacity of 880,000 cubic meter in China

ShanghaiCaojing

Nanjing

Vopak in China

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China’s Oil

0123456789

Million barrels per day

1994 1996 1998 2000 2002 2004 2006

Consumption Production2012 – 95.8m barrels/dayWorld production 84m bpd (2005)

Source: Energy Information Administration

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Shanghai Chemical Industry Park

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Vopak established in Chemical storage

Vopak China – Zhangjiagang Terminal

Division: Asia - ZhangjiagangStart of operations: Q2 2008Capacity expansion: 72,400 cbmProducts: methanol, PO, others

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Agenda overview: Paul Govaart

1. Vopak Asia – Introduction

2. Singapore

3. China

4. Asia

5. Summary of projects

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Indonesia

JavaJava

SumatraSumatraKalimantanKalimantan

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Tanjung PriokMerak

Vopak terminal serve Jakarta area

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Vopak Jakarta Terminal

Tankfarm

Jetty

Artist impression of Vopak Jakarta Terminal

Underseapipelines

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Thailand

India

China

Indonesia

Malaysia

THAILANDVietnam

MapTaPhut Industrial Estate

Thai Tank

Thai Tank

Dow

BayerATC

PTT CH I-1

PTT CH I-4

MTT Tank Terminal

Solid Bulk Port

Oil Refinery

Buffer tank farm

Coal Power Plant

RRC Tank Farm

HMC

TOL

BPE

TPAC

New DOW

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Phase #2: 80,850 m2

Pipe corridor: 63,727 m2

Jetty #1: 43,500 DWT

Jetty #2: 80,000 DWT

Jetty #3 : 10,000 DWT

Phase #3: 16,000 m2

Phase #1: 125,700 m2

Phase #4 : Phase #4 : 64,000 m264,000 m2

Thai Tank Terminal

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Vietnam

India

China

Indonesia

Malaysia

THAILANDVIETNAM

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Vietnam’s growing economy drives demand for chemical products

Source: Vietnam Chamber of Commerce and Industry

Vietnam Real GDP (growth, y/y)

7.7

8.4

8.2

8.5

8.7

8.5

88.2

7.6

7.8

8

8.2

8.4

8.6

8.8

2004 2005 2006e 2007f 2008f 2009f 2010f 2011fYear

Perc

enta

ge, %

Vietnam Chemicals Imports

0

100

200

300

400

500

600

700

800

900

1,000

2001 2002 2003 2004 2005 2006Year

' 000

mta

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Vopak terminal in HoChiMinh, Vietnam

Division: Asia - VietnamStart of operations: Q4 2006Capacity expansion: 40,000 cbmProducts: xylene, toulene, IPA

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India

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India has experienced steady growth in recent years

Source: Country paper from India – India Chemicals & Petrochemicals Manufacturer’s Association

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India: Trade Pattern of Oil Products

(kb/d)

(1,800)(1,600)(1,400)(1,200)(1,000)

(800)(600)(400)(200)-200400600

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2010

2012

LPG Naphtha Gasoline Kero/jetDiesel Fuel Oil Other

Net Exports

Net Imports

Source: FACTS

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Australia

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Sydney - Botany

• Growing fuel import volume• Terminal is connected to major pipelines

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Darwin

• Fastest growing region in Australia• Driven by mining boom

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Agenda overview: Paul Govaart

1. Vopak Asia – Introduction

2. Singapore

3. China

4. Asia

5. Summary of projects

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SingaporeBanyan; Phase 3 – 320k cbm

Shell – 7.5k cbmPhase 4 – 390k cbm

Penjuru; Phase 1 – 22k cbmSebarok; 216k cbm

Summary of projects

S.KoreaBASF / PO- 5,000 cbm

AustraliaDarwin – 11k cbmSydney site B – 83k cbm

Indonesia / JakartaPhase 1 – 250,000 cbm

ThailandBiodiesel – 54,000 cbmPhenol – 10,000 cbm

Vietnam / HoChiMinhChemicals – 40,000 cbm

Pakistan KarachiEthylene – 10,000 cbm

ZhangJiaGangMethanex / MEOH – 72k cbmLyondell / PO – 11k cbmCaojingBayer / Benzene – 40k cbm

Recently commissionedAnnounced

Under construction

Value of projects:

Euro 363.5 million

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