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www.port-investor.com
SOUTH EAST ASIACONSORTIUM
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Massive resource and oil deposits with rapidly growing need for transportation and trade infrastructure incl. ports
Strong export and consumer growth region, driven by fast developing economies like Vietnam and Indonesia
Need for financing to upgrade existing infrastructure and strong interest from local governments to attract “multinationals”
Although some countries award contracts and concession through public tender, there is in general substantial room for deal flexibility
3Of the worlds
20 biggest container ports
1/7 Of world container
throughput
SOUTH EAST ASIA (SEA) IN THE WORLD TODAY(a few key numbers on the ASEAN economy and its Port Sector)
628Million people
3.4Trillion USD
PPP adjusted GDP
Opportunities in the SEA Port Sector
$5 trillion Infrastructure
investment neednext 10 years
10% Of the worldoil reserves 12%
GDP CAGR last 10 years
www.port-investor.com
Deal
Lead
development
Focused
market engagement
Market scanning and intelligence
1 - 5
10 - 50
100 - 500
1,000 – 5,000
Many believe they can avoid building the pyramid – it’s an illusion, the deals you get access to are only as good as your pipeline.
The deal pyramid illustrates a few key rules of the marketplace:
a) The quality of the output is determined by the input – poor market scanning and market intelligence leads to poor leads
b) The most valuable deal leads are created pro-actively through focused market engagement
c) Each deal lead requires a strong contact and engagement base to develop into an actual investment
d) Only a few of the potential market targets will end up as deals - without a substantial pipeline no investments or deals
Typical challenges in securing investments
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Deal
Lead
development
Focused
market engagement
Market scanning and intelligence No or little market intelligence
available through desk research
Local presence required for any real insight – several sources
often required for verification
Multitude of local stakeholders including local government and port entities – wide engagement often req.
Any real engagement requires local relations and a real proposition to both
government and port
Actual leads eventuate from close dialogue and relation development –often very unstructured
Once into a stage of exploration of cooperation there is often presumed
exclusivity for a period
With the cooperation of local partners and government, deals can be cut quickly
Many local constituents like building on partnerships – one deal can lead to a
larger number of leads and deals
Challenges in the SEA Port Sector
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WHAT A group of operators, investors, and
developers many of which have world leading technology, experience and funding capability
Not a consortium in the traditional sense – there is no forced collaboration just collaboration opportunities in the many markets and sectors
WHY Combined leverage makes it possible to
create much more clout in the local markets
Complementary skill-sets from major port infrastructure fields that will allow synergies as each seek to develop in the market
Our team members have been active in the port sector for decades – the market and its constituents are well suited to engage with this form of “consortium”
The purpose of the SEA Consortium
DEVELOPERS OPERATORSINVESTORS
Free ZoneMarine Infra.Construction
ContainerOil & LiquidDry Bulk
CONSORTIUM
Pension FundPrivate EquitySovereign Fund
CARGO OWNERS
Shipping linesPort industriesEnergy and resources
PORT PARTNERS
EuropeLatin AmericaMiddle East
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Status and how to participate
We have cooperation with global as well as local SEA operators, funds, developers, port groups and many others.
As development and collaboration opportunities emerge we involve clients that we have formalized cooperation with and (if relevant) parties that may benefit our existing client network for specific developments or acquisitions.
SEA Consortium is already in motion in several locations. If you would like to be part of it please contact us at [email protected] and we would be glad to discuss your needs and relevant scope for the SEA infrastructure market. For more information about developing markets with Port Investor see appendix or go to our website at Port-Investor.com.
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APPENDIXMarket Development with Port Investor
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Why?Thousands of ports, assets and projects…
…hundreds of different investment models……an infinite amount of opportunities!
The challenge – how to tap the potential?
Too little time – too few resources…Too big – too small…
Too expensive – too risky…Too early – too late…
The solution – risk free market engagement and effective deal creation!
+Deal
Develop
Engage
Market intelligence
and scanning
1-5
10-20
50-100
1,000-5,000Matching propositions
500 investment
models
5,000 markets
50,000 targets
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What?
Greenfield Brownfield
Acquisition
Container
Bulk
Oil & Liquid
Logistic Zone
Free Zone
Majority
Minority
Financial investor
Developer
Operator$10+ million
$100+ million
$1+ billion
Seed investor
Whether it is acquisitions, green fields, majority, minority, mature assets, high upside propositions, oil, container or bulk…
Whether in China, Middle East, Europe, Latin America or any other nation or region…
The opportunities exist or can be created!
Singapore Dampier Corpus Christi London Southampton
Shanghai Hamburg Gladstone Bergen Wilhelmshaven
Rotterdam New York Primorsk Taichung Calais
Tianjin Nantong Bremen Bombay Baltimore
Ningbo Vancouver Long Beach Barcelona Forth Ports
Guangzhou Yantai Corpus Christ Sao Sebastiao Bilbao
Qingdao Nanjing Algeciras Lake Charles Pittsburgh
Hong Kong Kitakyushu Pohang Trieste Yanbu
Qinhuangdao Tangshan New Orleans Texas City Karachi
Dalian Itaqui Grimsby Baton Rouge New Mangalore
Busan lianyungang Beaumont Saldanha Bay Tampa
Nagoya Tubarao Huntington Paradip Milford Haven
Shenzhen Marseilles Constantza Jeddah Odessa
South Louisiana Newcastle Mobile Tees Leghorn
Houston Kobe Hampton Roads Manila Paranagua
Antwerp Amsterdam Ports St. Petersburg Alexandria Paulsboro
Ulsan Osaka Valencia Taranto Tarragona
Chiba Tanjung Pelepas Plaquemines Gothenburg Valdez
Port Hedland Sepetiba Dunkirk Tampa Texas City
Port Kelang Richards Bay Madras Jubail Liverpool
Rizhao Hay Point Jawaharlal Nehru Tanjung Priok Savannah
Yingkou Novorossisk Los Angeles Zeebrugge Brisbane
Kaohsiung Tokyo Genoa Mormugao Lubeck
Inchon Santos Calcutta Durban Pascagoula
Yokohama Le Havre Izmit Duluth-Superior Angra dos Reis
www.port-investor.com
Who?Pension funds, terminal operators, free zone developers, insurance funds, oil storage
operators, shipping lines, sovereign wealth funds, bulk operators, logistics zone operators, private equity funds, construction companies, industrials, general
investment funds, port groups…
…that wish to invest…that wish to operate…that wish to develop…that wish to partner
…that wish to collaborate
The great thing about this?
There are many more potential partners to cooperate and find solutions with than there are competitors!
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How?
Deal
Develop
Engage
Market intelligence
and scanning
1-5
10-20
50-100
1,000-5,000
Purpose Target PropositionStep 0Create the foundation
Step 1Focus among the many
Step 2Engage the most relevant
Step 3Deal development
Step 4Closing the deal
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Now!
Contact us on [email protected]...
…and let us help you start developing the propositions you want!
For more information on our market development process and theopportunities in the market place please refer to the appendices.
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APPENDIXChoosing your scope
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All constituents have different needs as concerns the target locations and the type of investments. These are just a small handful of examples.
Greenfield Brownfield
Acquisition
Container
Bulk
Oil & Liquid
Logistic Zone
Free Zone
Majority
Minority
Financial investor
Developer
Operator$10+ million
$100+ million
$1+ billion
Seed investor
How can we help you……relevant scope (1)
Singapore Dampier Corpus Christi London Southampton
Shanghai Hamburg Gladstone Bergen Wilhelmshaven
Rotterdam New York Primorsk Taichung Calais
Tianjin Nantong Bremen Bombay Baltimore
Ningbo Vancouver Long Beach Barcelona Forth Ports
Guangzhou Yantai Corpus Christ Sao Sebastiao Bilbao
Qingdao Nanjing Algeciras Lake Charles Pittsburgh
Hong Kong Kitakyushu Pohang Trieste Yanbu
Qinhuangdao Tangshan New Orleans Texas City Karachi
Dalian Itaqui Grimsby Baton Rouge New Mangalore
Busan lianyungang Beaumont Saldanha Bay Tampa
Nagoya Tubarao Huntington Paradip Milford Haven
Shenzhen Marseilles Constantza Jeddah Odessa
South Louisiana Newcastle Mobile Tees Leghorn
Houston Kobe Hampton Roads Manila Paranagua
Antwerp Amsterdam Ports St. Petersburg Alexandria Paulsboro
Ulsan Osaka Valencia Taranto Tarragona
Chiba Tanjung Pelepas Plaquemines Gothenburg Valdez
Port Hedland Sepetiba Dunkirk Tampa Texas City
Port Kelang Richards Bay Madras Jubail Liverpool
Rizhao Hay Point Jawaharlal Nehru Tanjung Priok Savannah
Yingkou Novorossisk Los Angeles Zeebrugge Brisbane
Kaohsiung Tokyo Genoa Mormugao Lubeck
Inchon Santos Calcutta Durban Pascagoula
Yokohama Le Havre Izmit Duluth-Superior Angra dos Reis
www.port-investor.com
Deal
Lead
development
Focused
market engagement
Market intelligence
and scanning
1-5
10-20
50-100
1,000-5,000
Step 1Focus among the many
Step 2Engage the most relevant
Step 3Deal development
Step 4Closing the deal
How can we help you……relevant scope (2)
Each constituent have different needs as concerns the deal pyramid. Some look for solutions all the way from market intelligence to closing actual deals, others only up to and including engagement of the relevant authorities and potential partners.
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APPENDIXJust a few of the many opportunities
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Market development……port expansion and new ports potential
Bio Fuel
Cruise
Dry Port Oil Storage
In-Port Industries
BulkLogistic Zone
Free Zone
Port Property
Intermodal Hub
Energy Hub
Trade Hub
Port zones are natural growth engines for the economy. The potential to develop and expand to generate economic growth and trade for most ports far exceeds their current footprint.
This includes the development of trade hubs, free zones, industry zones and other concepts.
For investors this gives potential to invest in some of the most valuable industry property and port infrastructure.
www.port-investor.com
Market development……acquisition potential
Among the big acquisition opportunities are the portfolios of many shipping lines that are expected to face a difficult period and port owners - some of which are looking to do a.o. PPP type deals that essentially are asset sales.
Many single asset owners also sit with acquisition opportunities, some with full ownership of a terminal or a port and some with majority or minority holdings in specific assets.
…just a few examples…
Target Transaction value Acquiring party
Portek portfolio $146mn Mitsui
Tin Can Container Terminal (Zim lines
47.5% share)
$154mn China Merchants
Malta Freeport (CMA CGM's 50% share) $285mn Yildirim Group
DPW Australia portfolio (75% share) $1.5bn Citi Infrastructure Investors
Chennai International Terminals (Sical's
27% sare)
Not reported PSA International
ACS Dragados Spanish port portfolio €720mn JP Morgan led consortium
Yantian International Container
Terminals (APM Terminals' 9.7% share)
$520mn Cosco Pacific
Poti Sea Port (80% share) Not reported APM Terminals
Santos - BTP (50% from MSC) Not reported APM Terminals
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Market development……collaboration potential (1)
MATCHING Over the course of a port infrastructure project the nature of the investment changes from stage to stage. Investors (as well as operators and developers) all have different preferences, some are more suitable for green-field whereas others look for mature facilities. Likewise each constituent brings its own set of strengths and skills to the table that amongst others can allow the undertaking of larger projects.
SYNGERGIZING (1 + 1 = 3)Ultimately this is all about finding synergies between parties with different skills and needs to accelerate development that may not otherwise have been possible or less attractive.
Greenfield
$1bn
Port Group
Oil Operator
Container Operator
Bulk Operator
Investment Fund
Development
• Private Equity
• Construction Company
Growth
• Investment Fund
• Operator
Maturity
• Pension Fund
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Market development……collaboration potential (2)
TERMINAL OPERATORSAPM TerminalsOiltankingICTSIVopak
PORT OWNERSPort of RotterdamShanghai International Port GroupAbu Dhabi Terminal CompanySantos Port Group
CARGO OWNERSShipping linesMining and mineral companiesEnergy companiesIndustrial Zones
The port industry has thousands of different operators and port owners that are ready to collaborate for different types of projects at different stages of the project in different geographies.
Likewise on the side of the parties actually owning cargo there are many that either have a need to get better market access on the sea side or have existing facilities that they wish to outsource.
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Market development……collaboration potential (3)
INVESTMENT FUNDS AND PRIVATE EQUITYMacquarie Infrastructure GroupBrookfield Infrastructure PartnersJP Morgan Infrastructure FundCiti Capital Advisors
SOVEREIGN FUNDSAbu Dhabi Investment AuthorityChina Investment CorporationGovernment of Singapore Investment CorporationMalaysia Mining Corporation
PENSION AND INSURANCE FUNDSPing An (2nd biggest Chinese insurance fund)Ontario Teachers Pension FundATP (biggest Danish fund)APG (biggest Dutch fund, 3rd biggest globally)
The global investment fund sector manages more than $100 trillion. Many want to “get real” (assets) and “go direct” (ownership) - they want real assets with real purpose. Owners or developers of port assets are in an ideal position to tap into that.
Many of the major funds prefer getting in after the development and optimization of a given port asset and want substantial deal size - often $100+ million.
www.port-investor.com
DEVELOPERS OPERATORSINVESTORS
Free ZoneMarine Infra.Construction
ContainerOil & LiquidDry Bulk
CONSORTIUM
Pension FundPrivate EquitySovereign Fund
CARGO OWNERS
Shipping linesIndustrialsFabrication
PORT PARTNERS
AsiaLatin AmericaMiddle East
IMMEDIATE COVERAGE FOR INVESTORSFor those with an interest to enter, expand or invest in a specific region (e.g. China) and covering all the key markets within months.
REAL ENGAGEMENTOur on the ground network directly engages the local decision makers
COMPLEMENTARYA group of leading firms with complementary skills and objectives enabling a strong proposition towards ports.
SYNERGISTIC AND NO RISKNo heavy regional setup or local office before you start running
The PI ConsortiumA new model for investors, developers and operators
Market development……collaboration potential (4)
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APPENDIXThe deal pyramid step by step
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The PI Deal Pyramid……an overview Deal
Develop
Engage
Focus
$1bn
10-20
50-100
1,000-5,000
Purpose Target PropositionStep 0Create the foundation
Step 1Market intelligence and scanning
Step 2Engage the most relevant
Step 3Deal development
Step 4Closing the deal
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Step 0……defining purpose
Purpose
What is the purpose? Why are you looking for an acquisition, developments or partnerships?
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Step 0……identifying the target
Purpose Target
What specifically is relevant for you to target, who to partner with or what to develop?
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Step 0……creating the proposition
Purpose Target Proposition
With the target in mind what is your proposition to them? Why should someone welcome your investment, collaborate or partner with you?
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Step 1……focus Deal
Develop
Expose and Engage
Focus
1,000-5,000
Purpose Target Proposition
This is about getting your market intelligence and scanning in place. It is about getting the right targets in sight. Without it you are going to be wasting valuable time and resources while others cut deals.
www.port-investor.com
Step 2……engagement Deal
Develop
Engage
Focus
1,000-5,000
Purpose Target Proposition
50-100
This is about creating true engagement – it is not about desk research it is about on the ground direct contact with the real decision makers and getting your proposition out there in the right form.
www.port-investor.com
Step 3……development Deal
Develop
Engage
Focus
1,000-5,000
Purpose Target Proposition
50-100
10-20
This is about fast-tracking and developing real leads, creating substantial opportunities and creating real leverage to close the deal.
www.port-investor.com
Step 4……deal Deal
Develop
Engage
Focus
1,000-5,000
Purpose Target Proposition
50-100
10-20
$1bn
Goal! Now use all the great efforts you did in step 0 to 3 to make many more!
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APPENDIXAbout Port Investor
www.port-investor.com
InduStreams was founded in 2011 with a mission to create a more transparent, connected and informed infrastructure market place.
We launched Port-Investor.com in July 2011, a specific sector pilot with focus on port investing and the global port industry.
Current state of affairs
200+ port groups and 1,000+ executives and decision makers in the network and increasing China Port Investor and other regions are being launched Specific concepts in development with select investors and port groups
The Vision
Connecting all substantial port markets (5,000+ globally) with investors (1,000+ globally) Creating a transparent and informed market place driven by industry leaders and experts Unleashing the potential inherent in this sector by creating thousands of new investment
opportunities (we expect investment potential to exceed $1 trillion)
Want to know more or simply engage……contact us on:
