RESCON 2012 – The Red Sea and Gulf Bunkering Conference

Book before March 24 and SAVE US$1,195!

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21 - 23 May 2012

Movenpick Hotel Jumeirah Beach Dubai, UAE

The only comprehensive regional event for bunker professionals PRESENTING A DISTINGUISHED SPEAKER PANEL LED BY:

Lars Robert Pedersen

Saleem Alavi

Deputy Secretary General

Maritime Advisor/Director UAE Ship Registry

Abdellah Dakkoune

National Transport Authority, Government of UAE

Senior Bunker Manager

Tamer Masoud

Abdulla Al-Hayyas

Jan Jacobsen

Port Of Fujairah

Dubai Maritime City Authority

Monjasa

The Baltic and International Maritime Council

Harbour Master

Senior Manager

United Arab Shipping Company

Chief Executive Officer

- The Red Sea and Gulf Bunkering Conference is the comprehensive gathering of bunker professionals focused specifically on the Red Sea and Gulf region.

Don’t miss out on your chance to forge lucrative commercial partnerships and learn from those peers who are fundamental to conducting cost-efficient and effective business in the region.

Certificates of participation for all Masterclasses and the Conference.

Headline Sponsor

Morten Dehn

General Manager Bunker Department

Julius Rodrigues Operations Manager

Mur Shipping

United Arab Chemical Carriers

Capt. Sahir Bin Mousa Bin Hassan Tahlawi

El Sayed Mohamed Ahmed Marie

Director General Of Jeddah Islamic Port, Saudi Ports Authority

Deputy Director of Planning, Research and Studies

Suez Canal Authority

Strategies for the key challenges you face will be addressed by our esteemed speaker faculty: è Bunker Pricing - Suez Canal Authority è Regulation - The Baltic and International Maritime Council è Economic Impacts - International Association of Maritime Economists è Port Spotlights - Port Of Fujairah - DP World Jebel Ali è Purchasing - United Arab Shipping Company - United Arab Chemical Carriers - D & K Shipping è Risk Management - Henderson International - Petromedia Group Red Sea Marine Services

Silver Sponsor

Industry Support Sponsor

è Futures Contracts - Mur Shipping è Supply - Monjasa è Sulphur - Dubai Maritime City Authority è Piracy - National Transport Authority UAE è Pricing Trends - Gulf Petrochem

Supporting Maritime Authority

Supporting Association

Media Partners

è Technical – United Arab Shipping Company è Hedging – Platts è Legal – Fichte & Co è Operations – Port Operations Research & Technology Centre, London

*Subject to validation. Not including masterclasses

è LNG Bunkering – Det Norske Veritas

www.iirme.com/rescon

Bunkering costs are the largest expense for ship owner/operators. With reduced shipping rates and the higher cost of fuel, it is essential you understand the regional dynamics impacting prices and markets to ensure your profitability.

- The Red Sea and Gulf Bunkering Conference will equip you with the critical first-hand local knowledge and expert insight into the region’s bunkering practices to reduce costs and maximize your margins.

It is a unique gathering of high-level decision makers bringing you unparalleled networking opportunities with representatives of all stakeholders in the industry.

Who Will I Do Business With? Ü Ü Ü Ü Ü Ü Ü Ü Ü Ü Ü

Shipping Companies/Owners/Operators Government & Port Authority Representatives Bunker Suppliers/Refiners Traders & Brokers Technology Providers Marine Analysts Equipment Manufacturers Financial Advisers & Lenders Marine Lawyers Economists & Risk Managers Fuel & lubricant Specialists

Why Should I Attend? î HEAR the insights and perspectives from ship owners, operators, government & port authorities, suppliers and traders on the latest developments affecting your operations î MEET with your peers to create new and lasting business relationships and increase your positioning in the Red Sea and Gulf markets î LEARN from industry experts including comprehensive macro-economic and regulatory overviews to help improve your business in the region

Make sure you hear from the industry experts who will show you how to improve operational efficiency and risk management, whilst meeting increasingly stringent regulatory requirements including ISO’s 8217-2010, IMO’s revised MARPOL Annex VI and NOx reduction.

There is more to good bunker management than just getting ‘cheap’ oil: breaks down each component impacting your business to give you detailed and specific guidance, advice and strategies for the issues that are challenging the bottom line. Whether you are a trader looking to learn how to better hedge your trades, an owner looking to improve operational efficiency or a supplier looking to actively improve risk management, you will find the answers to the questions and issues weighing on your mind and business.

Headline Sponsor

Monjasa specializes in “Bunkering Knowledge” – namely delivering fuels and lubricants to the ships in the fleets of respected shipping companies around the World.

Our supply network reaches out to more than 1000 ports globally, with core business activities ranging from bunker trading, physical bunker supply, chartering and ship owning activities.

We believe that by doing ‘that little bit extra’ we can push new and higher limits to the standards of the bunkering industry within our areas of expertise.

For more than a decade Monjasa has been a fast and flexible organization, which believes in modern management and in the power of people.

With a revenue of 1.5 billion US Dollars and nearly 3 million tonnes of bunker fuels supplied last year, the Monjasa Group is considered safe haven in terms of financial stability and safety, which are important key words in the current challenging markets.

Head-quartered in Denmark, and with offices in Dubai, Singapore and the United States, we offer a true 24/7 around the globe bunker service to our valued clients and partners.

For more general information please visit our home on the web at www.monjasa.com We look forward to an exciting and inspiring RESCON 2012.

Sponsorship Opportunities Participating as a sponsor at will give you direct access to your target market. Our sponsorship packages are flexible and can be designed to give your brand targeted exposure and increase your client base with networking opportunities, including: • Access to the invitation-only speaking platform where you will be able to position your company’s services / technologies alongside leading industry figures • Face to face time to network with attendees and build a relationship throughout the 2 days • Brand your company alongside leading industry players in the bunkering industry For more information on customised packages to meet your specific needs, contact: Arshed Hussain Tel: +971 4 407 2715 Cell: +971 50 559 3922 e-mail sponsorship@iirme.com

Tel: +971 4 335 2437 | Fax: +971 4 335 2438 | Email: register@iirme.com | Web: www.iirme.com/rescon

Conference Day One 08:00

Registration and refreshments

09:00

Chairman’s opening remarks

Tuesday | 22 May 2012 13:45

• How is it affecting the routes of ships and how is this impacting their bunkering operations?

• What security options are available?

• How is it impacting the cruise ship market?

• Which ports in the region allow security services on board ships?

Saleem Alavi, Maritime Advisor/Director UAE Ship Registry, National Transport Authority, Government of UAE

09:15 Keynote speech: Suez Canal navigation in relation to fuel prices Sayed Mariee, Deputy Director of Planning, Research and Studies, Suez Canal Authority 09:45

BIMCO keynote presentation: Fuel for the ships - a regulatory context • Will suppliers be able to meet the aspirations of regulators?

• Will refiners be ready to meet the future fuel standards?

• ISO’s 8217-2010, IMO’s revised MARPOL Annex VI and NOx reduction and their commercial implications

14:15

From the Arab Spring to Brent Crude: Looking at the global supply chain and where it is heading • Assessing the political and economic outlook in the Middle East and its affect on trade in the region • Evaluating the impact of OFAC embargoes on Iran, Libya and other countries: how is this affecting the regional bunker market?

• What are the forecasts in terms of the growth of Bahrain and Qatar and how will this affect the bunker market in the Red Sea/ Gulf region?

Dr. Khalid Bichou, Port and Transport Logistics Consultant, KB Associates, Co-Founder and Visiting Professor, PORTeC - Imperial College London, Former Vice President, International Association of Maritime Economists

10:45

Refreshment and networking break

11:15

Buyers’ panel: The trends in bunker purchasing in the region and the economic factors driving them

Abdulla Al-Hayyas, Senior Manager, Dubai Maritime City Authority Jan Jacobsen, Chief Executive Officer, Monjasa 15:00

Refreshment and networking break

15:30

Suppliers’ panel: Know your customer – what drives the demand supply chain and how can the credit-worthiness of buyers be adequately assessed?

• How can suppliers make bunker prices in the Middle East more competitive globally?

• Are they seeing the trend of owners/operators taking on less bunkers just to reach another region in which to take on a full load? How can they combat this?

• When does due-diligence cease to be cost-effective?

• Are suppliers only going to well-established traders?

• What is the trend of outsourcing supplies from outside the region?

• How are they combating a drop in demand?

Jan Jacobsen, Chief Executive Officer, Monjasa

• Assessing risk management for the buyer along the bunker supply chain • Is there ever a lack of available bunkers (especially with marine gas oil) and what are the issues this creates when you have to turn to new suppliers?

• How to get the ball rolling with new suppliers: is a cash up-front payment the only available option?

• How owners can protect themselves from claims by unpaid bunker suppliers if a time charterer is insolvent/impecunious Abdellah Dakkoune, Senior Bunker Manager, United Arab Shipping Company Julius Rodrigues, Operations Manager, United Arab Chemical Carriers Debasis Bose, Fleet Manager, D & K Shipping Ltd 12:00

Port spotlights: A focus on the key bunkering ports in the Red Sea and Gulf - how is competition within the region driving innovation in port services?

• What do ports foresee as key drivers of bunker demand and how are they adapting to these?

16:15

16:45 The changing quality of fuel and pricing trends: The impact

of quality changes on prices and the overall effects on the industry • Commercial impacts of change in the legislation of Annex VI of MARPOL 73/78 • Fuel oil global flows and their impact on global demand and supply • Impact of changing legislation on refining and blending trends • Advancements on legislation surrounding fuel quality • Blending, option or necessity?

• Is the industry prepared for the changes?

Kalrav Dixit, Group Trading Manager, Gulf Petrochem

• The impact of tightening bunker specifications on port services • The relationship between bunkering and other maritime services Tamer Masoud, Harbour Master, Port Of Fujairah A senior representative, DP World, Jebel Ali Capt. Sahir Bin Mousa Bin Hassan Tahlawi, Director General Of Jeddah Islamic Port, Saudi Ports Authority Lunch and networking opportunity

Pricing and hedging presentation: Fuel oil trends, pricing benchmarks and risk management – how can the Middle East better hedge?

• The price relationship between HSFO cargoes and bunker prices • MOPS, MOPAG and Bunkerwire methodology explained • Exploring swaps and oil futures contracts • A new paradigm for fuel oil as a premium product?

Paul Young, Executive Pricing Editor, Middle East & Asia, Platts

• What innovations and plans do they have for storage capacity?

12:45

How the market reacted to the reduction of sulphur emissions to 3.5% in 2012; the role of regulators and regulation in creating a level playing field while promoting responsible business practices • The knock-on effects for refineries in the region: where will they procure the necessary distillates to reduce sulphur levels?

• How will this affect bunker pricing long-term and which party is to pay for increased costs under charter party terms?

• How will Emission Control Areas (ECAs) and demanded sulphur reduction affect the Middle Eastern bunker market?

• Have the reduced sulphur bunkers increased the volume needed of lubricants?

James Walsh, Advisor - Maritime Strategy, Dubai Maritime City Authority

Lars Robert Pedersen, Deputy Secretary General, The Baltic and International Maritime Council 10:15

Piracy: How is it directly affecting the bunker market and what can be done to combat this risk?

17:15

Close of conference day one

Tel: +971 4 335 2437 | Fax: +971 4 335 2438 | Email: register@iirme.com | Web: www.iirme.com/rescon

Conference Day Two 09:00

Chairman’s opening remarks

09:15

Port operational efficiency: Assessing effective delivery and control of bunker volume • Crew operational education to avoid quantity disputes and maximize fuel delivery management • Educating crews in handling onboard to prevent loss and promote fuel efficiency • Operational risk management and management in the sector Dr. Khalid Bichou, Port and Transport Logistics Consultant, KB Associates, Co-Founder and Visiting Professor, PORTeC/ Imperial College, Former Vice President, International Association of Maritime Economists

09:45

Risk management: Looking at arguably the most important factor in the region from the perspectives of all players in the industry

Wednesday | 23 May 2012 13:45 Technical innovations in the bunker market: Flow meters,

scrubbers and the latest marine designs available – can

technology keep you ahead of the curve and are the ROIs justifiable?

• Flow meters: paying for what you get - looking at the lifetime of a ships bunkering vs. investment in technology • Scrubbers: the best way to meet the new sulphur regulations?

• A look at the latest innovations in maritime technology to hit the market • Effectively monitoring fuel consumption to reduce costs Mohamed Zaitoun, Fleet Marine Technology & Development Manager, United Arab Shipping Company 14:15

Quality of fuel and blending: The impact of poor fuel analysis and sampling on your business • The dangers of mixing: ensuring bench-blends beforehand in line with ISO 8217 – sediment potential and existent • Better oxygenation for optimal combustion • Lowering viscosity and reducing water and sludge levels • Advancements on legislation surrounding fuel quality • Additives: from combustion enhancers to fuel stabilisers – what is new on the market?

• Assessing quality issues in the use of computerised in-line blenders and the impact on pricing • How to prepare for and manage quality claims should they arise

• Ensuring practical risk assessment procedures are in place for every purchase • The most efficient means of creating an accurate bunker credit report • Accurately assessing counterparty credit risk Adam Dupré, Chairman, Petromedia Group Spyros Sokaris, Managing Director, Henderson International Capt. G. Fekry, Managing Director, Red Sea Marine Services Ltd

14:45

Refreshment and networking break

10:30

Refreshment and networking break

15:15

The legal perspective: An analysis of the bunkering contract

11:00

Hedging: How to hedge trades using oil futures contracts and other instruments to mitigate risk and stay ahead of your competitors • Fuel oil futures contracts – how can you effectively hedge in the region?

• Choosing a strategy: fixed vs. floating price • A rundown of the different products available: swaps, options and commercial fixed price • Is it time for hedging to finally catch on in the region?

Morten Dehn, General Manager Bunker Department, Mur Shipping

11:30

LNG Bunkering: From coastal/short-sea vessels in Scandinavia to worldwide shipping • International focus on environmental emissions from shipping • Latest update of LNG as a marine fuel (no. of ships in operation and orderbook, type of ships) • LNG availability at key strategic shipping hubs globally • LNG as marine fuel for worldwide shipping trade including VLCCs and containerships Shahrin Osman, Head of Management Advisory Middle East, Det Norske Veritas

12:45

15:45

Lunch and networking opportunity

Pricing: What are the most effective pricing strategies and how and why do they differ across the region?

• How is the Red Sea and Gulf region fairing in terms of global pricing?

• Is the region gaining/losing business because of this?

• Are some players dumping prices to win business and what are the impacts of this?

• Is there a need for increased refining capacity in the region and how will this affect pricing?

• Do suppliers trust their clients and how is this reflected in pricing?

• What are the macro and micro factors affecting volatility of prices in the region? What is the forecast for the future and how is it affecting shipping patterns?

Traders’ panel: The best practice for due diligence to effectively mitigate risk • Ensuring quality of product when dealing with new suppliers • The growing cruise ship bunker market in the Middle East: a new opportunity for hedging?

• Reducing credit outstanding: what are the realistic options and benefits of reducing day-payment terms?

• Is credit insurance becoming unaffordable?

• How are the smaller trading houses coping?

• Are some traders dumping margins just to secure business?

12:15

• Understanding the terms of payment, evidence, sampling, time limit, lien and retention of title • Terms implied by law and how these terms are interpreted in practice • Analyzing the ownership of bunkers on a time charter party • Loss prevention and collection of evidence: practical steps when bunkering • Claims management with practical case studies Alessandro Tricoli, Partner, Fichte & Co

16:30

Close of RESCON 2012 conference

BOOK BEFORE

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Tel: +971 4 335 2437 | Fax: +971 4 335 2438 | Email: register@iirme.com | Web: www.iirme.com/rescon

Pre-Forum Masterclass A

Pre-Forum Masterclass B

Monday 21st May 2012

Monday 21st May 2012

Bunker Markets Masterclass in Financial Risk Management

Fuel Testing Masterclass to Mitigate Risk in the Bunker Market

Registration will be at 08:00. The workshop will run from 08:30 to 12:30 with appropriate breaks for prayer and refreshments. Lunch will be served at 12:30.

Registration will be at 13:00. The workshop will run from 13:30 to 17:30 with appropriate breaks for prayer and refreshments.

Overview Risk management is the skill/art/science of assessing where on the line from low to high risk any particular deal sits, and of making the right decision as many times as possible. The closer to the line you can get, the more likely you are to do more and more successful business. If your risk assessment procedures do not generate clear assessments, then you need to err on the side of caution, and may miss opportunities.

If you have sophisticated risk analysis systems that you can trust, you can work much closer to the wire, with the opportunities for higher rewards that this kind of business can bring. The nub of the matter is, how accurate are your means of assessing risk?

Key Topics • • • • • •

Does market price risk exposure matter? – impacts on profit and loss Measuring, monitoring and controlling market price risk exposure The benefits of hedging market price risk exposure Choice of hedge instruments: futures, OTC swaps, fixed price physical bunker purchases, options and exotics Techniques for managing credit risks Other financial risks

Workshop Leader:

Paul Waine Director, Risk Data Services, Platts

Paul Waine has over twenty years leadership experience in finance and risk management in the global oil and energy trading sector. He has enjoyed roles with Royal Dutch Shell, Goldman Sachs, Enron and BP – including marine/bunker sector experience at both Shell and BP. On a smaller, national scale he directed SmartestEnergy from start-up to establish the firm as a profitable operator as a 3rd party risk manager in the UK power sector. Thoughtful and comprehensive knowledge of energy risk management were the foundations of this success. Paul joined Platts in 2011 as Director in their Risk Data Services division, leading the development of their risk management product services.

Paul’s professional experience is defined by the identification and management of business risks – plus the implementation of strategies to maximize rewards. He holds a Masters Degree in Philosophy, Politics and Economics from Oxford University and is qualified as both a Chartered Accountant and a Corporate Treasurer. For traders, brokers, operations, portfolio managers, sales, marketing, transportation, purchasing and analysts, Platts provides a wide range of market reports, price data and statistical data to help you make

Overview Marine fuels are now an internationally traded commodity and it is becoming increasingly difficult to pinpoint the sources of quality problems. Hence it is important to constantly monitor the quality of bunkers delivered to vessels.

Unpredictable fuel quality is a regular cause for concern among ship operators.

Apart from creating operational problems for vessels, ‘off specification’ bunkers can imply commercial losses in that quality of fuels as ordered has not been received. Further costs may arise due to damage of engine components. Off specification fuels can also contravene international regulatory requirements, leading to possible penalties such as vessel detentions and fines.

The workshop will provide invaluable insight and practical skills to all professions linked to the bunker industry including ship owners, operators and managers, fuel suppliers, fuel purchasers, fuel oil and product traders and marine engineers.

Key Topics • • • •

Fuel specifications - international standards/engine manufacturer’s specifications The importance of taking proper samples The significance of fuel parameters and the interpretation of test results Ensuring accuracy of test results

Workshop Leader:

Thomas Tampi

Technical Manager of DNVPS Fujairah, DNV Petroleum Services

Thomas Tampi has worked with DNV Petroleum Services since 1999. Presently the Technical Manager of DNVPS, Fujairah, he heads the Technical and Bunker Quantity Survey Department at DNVPS, Fujairah. He is a regular contributor of articles regarding marine fuel issues to various technical publications and is a lecturer at the Fuel Management Courses conducted by DNV Petroleum Services.

A Marine Engineer by profession, Thomas Tampi has 15 years sea going experience, out of which he worked as Chief Engineer for 10 years. He worked as Superintendent Engineer with a company operating bulk carriers as well as with a company operating LPG vessels and oil tankers. He has also been a classification surveyor attending marine, new build and industrial surveys.

A subsidiary of Det Norske Veritas, DNV Petroleum Services (DNVPS) introduced the first commercial bunker testing programme in 1980 and has since then been in the forefront of bunker fuels research and development.

decisions.

Tel: +971 4 335 2437 | Fax: +971 4 335 2438 | Email: register@iirme.com | Web: www.iirme.com/rescon

21-23 May 2012

Movenpick Hotel Jumeirah Beach Dubai, UAE

FIVE WAYS TO REGISTER IIR Holdings Ltd. P.O Box 21743 Dubai, UAE

+971 4 335 2437 +971 4 335 2438

www.iirme.com/rescon

register@iirme.com

Programme At A Glance

Masterclass Only

Please

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23rd May 2012

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A1203

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GROUP DISCOUNTS AVAILABLE

the session/s you wish to attend:

Entire Event Conference + 2 Masterclasses (AM and PM) Conference + 1 Masterclass (AM or PM ) *If applicable Conference Only Masterclass Only (AM

or PM )

Register before 24th March 2012

Register before 22nd April 2012

Register before 14th May 2012

Final price

$3,090 SAVE $1,195

$3,190 SAVE $1,095

$3,390 SAVE $895

$3,590 SAVE $695

$2,195 SAVE $995

$2,295 SAVE $895

$2,495 SAVE $695

$2,695 SAVE $495

$1,595 SAVE $500

$1,695 SAVE $400

$1,895 SAVE $200

$2,095

$895 SAVE $200

$895 SAVE $200

$995 SAVE $100

$1,095

Pricing Promotions: ü Group Booking Discounts of 2 or more for entire event registrations up to 25%. ü Association and partner discounts up to 20% ü *No two discounts can be combined

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CALL: +971 4 335 2483 E-MAIL: a.watts@iirme.com Conference fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.

All registrations are subject to our terms and conditions which are available at www.iirme.com/terms. Please read them as they include important information. By submitting your registration you agree to be bound by the terms and conditions in full.

Payments A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges. In any event payment must be received not later than 48 hours before the Event. Entry to the Event may be refused if payment in full is not received.

Credit card payment If you would like to pay by credit card, please tick here and a member of our team will contact you to take the details

Cancellation If you are unable to attend, a substitute delegate will be welcome in your place. Registrations cancelled more than 7 days before the Event are subject to a $200 administration charge. Registration fees for registrations cancelled 7 days or less before the Event must be paid in full. Substitutions are welcome at any time.

All registrations are subject to acceptance by IIR which will be confirmed to you in writing.

Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers or topics.

Avoid Visa Delays - Book Now Delegates requiring visas should contact the hotel they wish to stay at directly, as soon as possible. Visas for non-GCC nationals may take several weeks to process.

Event Venue: Movenpick Hotel Jumeirah Beach Dubai, UAE Tel: +971 4 449 8888 Accommodation Details We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on: Tel: +971 4 407 2693 Fax: +971 4 407 2517 Email: hospitality@iirme.com

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