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STRICTLY PRIVATE & CONFIDENTIAL
Trusted to deliver excellence
Introduction to Marine
21 October 2014
Mikael Mäkinen, President - Marine
© 2014 Rolls-Royce plc The information in this document is the property of Rolls-Royce plc and may not be copied or communicated to a third party, or used for any purpose other than that for which it is supplied without the express written consent of Rolls-Royce plc. This information is given in good faith based upon the latest information available to Rolls-Royce plc, no warranty or representation is given concerning such information, which must not be taken as establishing any contractual or other commitment binding upon Rolls-Royce plc or any of its subsidiary or associated companies.
2 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Introduction to Marine
3 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Aerospace Power Systems
Marine
Nuclear
Rolls-Royce Marine An important member of the family
4 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
“Offshore exploration & production is expected to grow to 45% (from 35%) of exploration & production
over the next decade.” Barclays
“Over 90% of the world’s goods by weight and volume are transported by sea.”
International Maritime Organization (IMO)
“Over 50% of countries worldwide have an ocean-going naval fleet.”
IHS Jane’s
Marine industry A strong contributor to the global economy
5 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Environmental efficiency
Ship sizes growing
Flexibility increases in ship design
Ship intelligence is the new way to sell
Fuel diversity will increase
Markets continue shifting towards Asia
Increasing activities in harsh environments
Towards electric ships and systems
Business models changing towards asset management
Major trends A large business opportunity
6 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
1) Including > 25,000 fishing vessels and > 23,000 tugs & workboats, excluding inland waterway vessels and pleasure craft 2) > 20 metres
Offshore
> 10,000 vessels
Naval
> 11,000 vessels2)
Merchant
> 111,000 vessels1)
Search for and extraction of natural resources.
Transportation of cargo and people.
Protection of state interests.
Purpose Market segments
Com
mer
cial
Market segments Every fifth ship has Rolls-Royce equipment
7 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Seismic vessels Drill ships & semi-subs Shuttle tankers
Exploration & Production
Supply & Service
Subsea & Construction
Vessel segments Vessel types
Platform supply vessels Anchor handling vessels Safety standby vessels
Construction vessels Subsea vessels Cable layers
Offshore Vessel segments and ship types
8 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Cyclicality by ship type
Source: Internal, vessel contracting
Offshore Supply / demand balance at a ship type / size level
9 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Seismic vessel Drill ship Drilling semi-submersible
Construction vessel Platform supply vessel Anchor handling vessel
Offshore Wide range of vessel types
10 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Seismic vessel
Platform supply vessel
Anchor handling vessel
Drill ship / semi-sub
Subsea construction vessel
Pipe layer
Production & storage vessel
Shuttle tanker
Well intervention vessel
Inspection / maintenance vessel
Decommissioning vessel
Illustrative
Oil field life-cycle Rolls-Royce equipment used throughout
11 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence Source: International Energy Agency (IEA) - World Energy Outlook
Growing energy demand
12 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence Sources: International Energy Agency (IEA) - World Energy Outlook and Rystad
Oil & gas market Prospects for 2035
13 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence Sources: Barclays E&P Spending Update
Actual Forecast
2009-13 13%
2014-17 11%
$3.9 Trillion
35%
$9.0 Trillion 45%
Global E&P capex spending growth Low-double digits with offshore c. 5 to 10%
14 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Proven offshore oil reserves beyond 400 ft With new discoveries increasingly in deep water
Source: Based on RS Platou data, water depth > 400 ft
400-1,0001,000-5,0005,000-7,5007,500+
Reserve Water Depth
15 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Vessel segments Vessel types
Others
Cargo vessels
Passenger vessels
Merchant
Tankers Bulk carriers Container vessels
Cruise ships Ferries Yachts
Tugs & workboats Fishing vessels Dredgers
Vessel segments and ship types
16 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Cyclicality by ship type
Source: Internal, vessel contracting
Merchant Supply / demand balance at a ship type / size level
17 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Tanker (medium) Tanker (large) Container vessel
Bulk carrier Ferry Tug
Merchant Wide range of vessel types
18 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
GDP and seaborne trade growth relationship
Sources: IHS World Industry and DnV Shipping 2020
19 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
World fleet
Sources: IHS Fairplay and Internal 1) Including all commercial & naval vessels > 100 gross tonnes, excluding tugs, yachts and inland waterway vessels
Number of vessels contracted and scrapped
20 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Constabulary vessels
Navy vessels
Coast guard vessels
Vessel segments Vessel types
Combatants Offshore patrol vessels Amphibious vessels Auxiliaries
Patrol vessels Search & rescue vessels Tugs & tenders
Police vessels Customs vessels
Naval Vessel segments and ship types
21 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Fast attack craft Coast guard vessel Frigate
Littoral combat ship Aircraft carrier Replenishment vessel
Naval Wide range of vessel types
22 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence Source: IHS Jane’s Defence Budgets
Global military ship market
23 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Large number of market players
Oil companies Subsea construction companies
Charterers Cargo owners Governments
Ship owners Ship operators Ship managers
Navies Government agencies
Shipyards
Equipment & system suppliers
24 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
MARINE VIDEO
25 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Key facts
Rolls-Royce Marine - Global footprint
Land & Sea - Revenue 2013 Rolls-Royce Marine - Revenue 2013 Total: £5.5bn Total: £2.0bn
Rolls-Royce Marine
6,500 employees
12%
75%
13%
26 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Source: Internal, 2008 - 2013, addressable market, vessel contracting, by value
China 29% South Korea 19% Singapore 8% Norway 6% USA 6% Brazil 4% Netherlands 4% Japan 3% Malaysia 3% Indonesia 2%
USA 18% Norway 13% Singapore 9% Malaysia 6% Brazil 6% China 5% France 5% United Arab Emirates 4% Bermuda 3% Netherlands 2%
Shipyard countries - Offshore Ship owner countries - Offshore
Top 10 offshore countries
27 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Shipyard countries - Merchant Ship owner countries - Merchant
China 34% South Korea 32% Japan 18% Philippines 2% Netherlands 2% Taiwan 2% Malaysia 1% Indonesia 1% Vietnam 1% Italy 1%
Japan 14% China 11% Greece 10% Singapore 6% Germany 6% United Kingdom 4% South Korea 4% Denmark 4% Hong Kong 3% Taiwan 3%
Top 10 merchant countries
Source: Internal, 2008 - 2013, addressable market, vessel contracting, by value
28 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Major trends
Rolls-Royce strength
A large business opportunity
Environmental efficiency
Ship sizes growing
Flexibility increases in ship design
Ship intelligence is the new way to sell
Fuel diversity will increase
Markets continue shifting towards Asia
Increasing activities in harsh environments
Towards electric ships and systems
Business models changing towards asset management
29 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Concentration
Geographical presence
Market and vessel segments Equipment & systems
Choices have been made
30 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Ship systems Large number of different systems
Steering gear
Stabilisers
Thrusters
Propulsors
Gears and shaft lines
Main engines
Auxiliary engines
Winches
Fuel system
Ramps
Electric drives
Switchboards Automation & controls
Navigation Communication
Ventilation
Sewage treatment Ballast water treatment Ballast systems
Steam system
Exhaust gas treatment
Cargo deck
Elevators Lightning
Electric distribution Life saving equipment Food stores
Air Conditioning
Bridge automation
Outdoor deck systems
Generators Fire fighting systems Energy management
Laundry
Rudders
Bearings and seals
Deck equipment
Launch & recovery systems Replenishment / fuelling systems
Rolls-Royce scope Adjacent to Rolls-Royce scope
Distant to Rolls-Royce scope
31 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Our market approach
32 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Offshore market positioning
propulsion & engines
operational functionality
electrical, automation & control
Illustrative
33 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
A sizeable market opportunity
Source: Internal data based on 2014 market pricing with no adjustment for inflation, vessel contracting * For power, transmission, propulsion, automation & control, ship design, motion control and work systems.
14 18
94108
111
0
50
100
150
200
250
2004 - 2013 2014 - 2023
Services opportunity
Equipment and systems opportunity
Equipment and systems adjacency*
Mar
ket o
ppor
tuni
ty[ £
bn]
34 Privileged and confidential - prepared at the request of outside counsel
Trusted to deliver excellence
Our integrated strategy
Profitable growth Continuously improve our
operational efficiency Grow our aftersales support
business Grow into attractive market segments and geographies
Innovation
Create a winning offering for future customer needs
Customer
Fully understand our customers’ requirements to create compelling offerings