Newsletter 019

T&T SHIPBUILDER & REPAIR NEWS

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ISSUE #019 – APRIL 2009.

T&T SHIPBUILDING & REPAIR (S&R) CLUSTER

Diversifying our Economy, one Ship at a time©...

Hello S&R Stakeholders, Shipbuilding and Repair Development Company of Trinidad and Tobago Limited.

We are pleased to announce the formation of our Special-purpose Corporation (SPC), which will handle various commercial / financial aspects related to our organization. Special thanks to our newest S&R Stakeholders, Mr. Dwayne Yawching of ALL PURPOSE DIESEL LIMITED and Mr. Andrew Bridgemohansingh of NAVARA ENGINEERING for sponsoring costs related to this new entity, registered in Trinidad and Tobago under the Companies Act, 1995.

Caribbean Dockyard and Engineering Services Limited Expands.

The re-start and expansion of CDESL facilities at Chaguaramas Bay is most welcome. As a net earner of valuable foreign exchange and a substantial generator of employment in these challenging economic times, we sincerely wish their Management Team, Employees and SubContractors success in their S&R activities. Featured in this month’s issue is an insight into their extensive shipyard facilities located in North-Western Trinidad.

Welcome to Port-of-Spain - Host City for the Fifth Summit of the Americas (VSOA) 2009 S&R Leadership takes this opportunity to wish participants, including the Heads of State and Government of the thirty-four Member States of the Organization of American States (OAS) and their delegations, a warm welcome to our shores.

Our T&T Shipbuilder & Repair News has been granted full media accreditation by the National Secretariat, Office of the Prime Minister to cover this unique event, presently being held in our port city and onboard the two cruise ships “Carnival Victory” and the “Caribbean Princess”. We will be bringing to our global maritime readership, exclusive coverage, videos and our award winning photos in our next ‘Special 5th Summit Edition’ issue.

Sincerely, T&T Shipbuilding and Repair Cluster.

Wilfred de Gannes.

Deputy Leader.

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HYUNDAI HEAVY INDUSTRIES: FROM SCRATCH TO #1 SHIPBUILDER “Faces inside Korea’s conglomerates” is a weekly series about key figures in major conglomerates to help readers understand Korea’s business world. The Hyundai Heavy Industries Group, now the world’s biggest shipbuilding conglomerate, started on an empty stretch of beach in Ulsan in the early 1970s. There is a well-known story about how the founder, the late Chung Ju-yung, persuaded a British bank to provide loans to an unfamiliar Korean company with no shipbuilding experience. Chung recalled that he showed not only his plan but also a picture of the Turtle Ship, a historic warship of the Joseon Dynasty, on a 500won Korean banknote to describe the nation’s long history of shipbuilding to the head of Barclays Bank. After securing funds and technology transfers, Hyundai Heavy finally built its first two ships, 260,000-dwt crude carriers, in 1974.

Today, Hyundai Heavy Industries Co., the flagship company of the business group, is the world’s top shipbuilder, according to the U.K.-based shipping service group Clarkson. Its affiliate, Hyundai Mipo Dockyard Co., is the world’s fifth largest shipbuilder. The 15 unit business group is Korea’s seventh biggest conglomerate, if current or former state-run conglomerates are excluded.

Hyundai Heavy Industries Co. marked record annual sales and net profit last year of 20 trillion won ($14.24 billion) and 2.2 trillion won respectively, despite the global financial crisis.

It also received orders worth $28.2 billion last year, up 13 percent from 2007.

But orders worldwide have been shrinking sharply since the fourth quarter, not only due to the global credit crunch but also due to a correction to the recent shipbuilding boom.

The company may be positioned to weather the storm.

Jeon Jae-cheon, an analyst at Daishin Securities, said in a recent report, “Hyundai Heavy has a well-diversified business portfolio, including high-value-added tanker construction and alternative energy business such as solar photovoltaic module manufacturing.”

With the domestic economy sluggish last year, Hyundai Heavy Industries began an advertising campaign featuring a video of the late Chung telling university students the episode about the establishment of the shipbuilder.

Continued on Page 4

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The ad succeeded in evoking Koreans’ nostalgia for the times of rapid economic growth and bold challenges in the 1960s and 70s and ranked third in the list of the corporate ads that left the best impression last year, according to a poll on 1,200 people by Korea CM Institute, a marketing research agency.

Today, Chung Mong-joon, the sixth son of the founder Chung and a lawmaker from the governing Grand National Party, is the largest shareholder of the conglomerate. However, he does not intervene in the day-to-day management of the shipbuilder. The business group is being managed by professionals, mostly people who majored in naval, electrical or mechanical engineering at university and have accumulated experience in the shipbuilding field.

Min Keh-sik, head of the business group and chief executive officer of Hyundai Heavy, is a case in point. Min earned a bachelor’s degree in naval engineering from Seoul National University and a doctorate in oceans engineering from Massachusetts Institute of Technology.

He has published 180 papers in local and overseas journals and won 220 local and foreign patents. Min, nicknamed “the silver-haired marathoner,” has run 200 full marathons. He has worked overtime nearly every day for 20 years to develop new products, according to company officials. He was recruited by founder Chung in 1990 from Daewoo Shipbuilding & Marine Engineering.

The business group has many other executives who majored in naval engineering in SNU. One of them is Choi Kil-seon, president and CEO of Hyundai Heavy. He joined the company in 1972, when the ground-breaking ceremony for its Ulsan shipyard was held. He served as president of Hyundai Samho Heavy Industries Co., and Hyundai Mipo before landing his current position in 2004. He now focuses on development of the shipbuilder’s new growth engines, including offshore plants and renewable energy business. Song Jae-byoung, the current president and CEO of Hyundai Mipo, is also an SNU graduate with a degree in naval engineering. He has endeavored to remake shipbuilding systems so that mass production can be made possible in a limited site and to extend business scope to construction of high-valueadded ships, such as Pure Car / Truck Carriers. Under his leadership, Hyundai Mipo is establishing itself as a shipbuilder focusing on high-end mid-size vessels.

The flagship company, Hyundai Heavy, which accounts for three quarters of the business group’s total sales, has four important senior executive vice presidents under the two CEOs. Among them is Choe Weon-gil, who leads the shipbuilding business division. He has worked for the shipbuilder since 1972 and been involved in various areas, including planning and marketing. He has been leading the construction of the company’s Gunsan shipyard in North Jeolla. He is said to have an efficiency-oriented Western management style that does away with unnecessary meetings and grants more autonomy to workers.

Continued on Page 5

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Oh Byeong-uk, head of the offshore plant business division, is an expert in planning who helped the company develop the technology for construction of large vessels on land. In addition, company officials say his fluency in English has helped him become an expert in negotiations with ship buyers.

Yoo Seung-nam, who leads the engine business division, helped the company’s annual large engine production exceed 10 million horsepower last year for the first time in the world.

Kim Young-nam, head of the electronic system business division, has helped that business expand. He now focuses on parts manufacturing for solar photovoltaic power generation and wind power, the company’s new growth engines. Kim and Choe both majored in electrical engineering at SNU. Among other senior executives is Hwang Moo-soo, CEO of Hyundai Samho. In 1994, Hwang helped Hyundai Heavy successfully build a liquefied natural gas carrier for the first time among local shipbuilders.

And there is Choe Byeong-gu, executive vice president of Hyundai Heavy. He is leading the construction equipment business of the shipbuilder.

Lee Choong-dong, executive vice president of Hyundai Heavy, also has an SNU bachelor’s degree in naval engineering and a doctorate in structural engineering from the University of California, Berkeley. Lee has led various research and development projects ranging from improving the structural soundness of ships and offshore plants to industrial robot intelligence. ************************ Hyundai Heavy Industries has delivered over 1,500 ships to about 240 owners in some 50 countries since 1974 and currently, the company has a backlog of orders that will keep it working for the next three years. As the industry leader, the company is always looking to come up with new ideas to improve its ship manufacturing process and take full advantage of its numerous docks. And as a result, the company is producing, on average, one ship every two days.

Another strong point is its flexibility. All its ships are tailored made to the satisfaction of every individual shipping company's specific requirements. And it has competitiveness by building high quality ships at reasonable price.

Hyundai Heavy Industries beat the world's largest delivery record for large-sized vessels in 2008, delivering 102 vessels, while also raking in W20 Trillion last year.

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ISSUE #019 – APRIL 2009.

QATARGAS 2 LNG SHIPS ALL DELIVERED The construction project completed the eight Q-flexes and six Q-maxes vessels which started in 2006 at three different ship yards located in South Korea, Daewoo Shipbuilding & Marine Engineering Co. Ltd. and Samsung Heavy Industries shipyard at Geoje Island and Hyundai Heavy Industries located at Ulsan.

This outstanding achievement could not have happened without the emphasis on safety and teamwork throughout the project. For Train 4 vessels, the construction team has delivered four of the eight vesels without a Lost Time Incident (LTI), accruing 9.7 million man-hours with an LTI rate of 0.184.

For Train five five of the six vessels were completed LTI- free.

This is a remarkable achievement which exceeds the industry standards and can be considered industry leading performance. In light of this milestone, Mr. Andy Richardson, Shipping Project Manager, said: 'I'd like to take this opportunity to thank everyone for the outstanding achievement in successfully completing this monumental task. It has not been without its challenges but the team spirit engendered over the years throughout the team and with our friends at the shipyards.' has prevailed

Abdullah Al-Sulaiti, Qatargas Shipping Manager, said: 'We have already put many of these vessels into operations delivering cargos around the world, and they are performing well. The decision to bank on new technologies to significantly expand the capacity of these ships appear to have been well justified.'

These vessels are built to deliver liquefied natural gas produced from Qatargas 2 Train 4 and Train 5. The Q-Flex and the even larger Q-Max are a new generation of LNG mega-ships. The Q-Max has 80 % and Q-Flex 50% more capacity than conventional LNG carriers with about 40 % lower energy requirements due to the economies of scale created by their size and the efficiency of the engines.

Qatargas 2 shareholders are Qatar Petroleum, ExxonMobil Qatargas II Limited and Total E&P Qatargas II Holdings Ltd. ************************ Only the extremely ignorant or the extremely intelligent can resist change. - Socrates

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INTERNATIONAL NEWS Hyundai Completes Mega Dry-dock Specializing in FPSO - April 6th 2009.

Hyundai Heavy Industries (HHI) completed its 10th dry-dock, H-dock, which Hyundai said is the world's first dry-dock specializing in floating production, storage and offloading vessels (FPSOs).

The dry-dock measures 1,608 feet (490 m) in length, 374 feet (114 m) in width and 44 feet (13.5 m) in depth, with a capacity of 1 million dwt. The dock, which covers the same area as seven football pitches, has two 1,600-ton Goliath cranes. H-dock cost 140 billion won (US$106.93 million) to build.

Traditionally FPSO's hull sides and topside are built separately. The hull is built in a ship building dry-dock and then transported to a quay for topside installation. Hyundai said that this method can time consuming and can make crane use difficult.

With the new H-dock, HHI can now simultaneously build both the hull sides and topside in the same dock. HHI expects to reduce production costs by more than 15 percent, and the construction time to build an FPSO about one month.

HHI will use the H-dock for shipbuilding when not working on an FPSO. For shipbuilding, the new dry-dock can build four vessels of more than 180,000-dwt ship at the same time. Its annual capacity is 12 vessels.

Arab Shipbuilding & Repair "Set to ride out global storm" - April 1st 2009 Bahrain based Arab Shipbuilding and Repair Yard Company (ASRY) says it is set to ride out the global economic storm in 2009 following its record breaking year in 2008. Both Chairman, HE Shaikh Daij bin Salman bin Daij Al-Khalifa and Chief Executive Chris Potter are upbeat about the yard’s performance this year following sales in 2008 breaking the US $200 million barrier for the first time. “ASRY is now debt free for the first time in its history,’ said Shaikh Daij, ‘and we have a strong cash flow. In the past year or so we’ve put new policies in place and these have paid off. The shipyard is now competitively priced, offers a quality service and we are now getting much closer to our customers.”

In 2008 the Bahrain shipyard had sales of $207.5m, the best year in its history, and repaired a total of 133 vessels and offshore craft; 119 in dry-dock and 14 alongside. Up until mid-March this year the yard had repaired a total of 42 vessels, 24 from the international market and 18 from the Arab market.

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Qatar To Deliver LNG To The United Kingdom - March 12th 2009 Qatar is set to consolidate its position as the world leader in the liquefied natural gas industry with the launch of the $13.2bn Qatargas 2 terminal in April 2009. The venture at Ras Laffan will supply gas to the South Hook terminal in Wales, UK, which is being jointly set up by Qatar Petroleum, ExxonMobil and Total. Qatargas 2 is large enough to meet about 20% of the UK's natural gas needs, said Qatargas Operating Company CEO Faisal M al-Suwaidi.

Clyde Yard Secures Navy Contract for T&T Patrol Vessels - March 12th 2009 Two Glasgow shipyards have won a share of a ÂŁ150m order to build three patrol boats for the Trinidad and Tobago navy. BVT's yard at Scotstoun will build one vessel and carry out work on another, with the help of the Govan yard. The firm's Portsmouth facility had been due to build all three ships but fell behind on the work.

Scott Jamieson, BVT's Trinidad and Tobago programme director, said: "This move shows BVT's ability and commitment to use its scale and scope to ensure delivery of future naval capability to its customers and to ensure the long-term sustainability of the maritime industry in the UK." Work on the first ship is already "well progressed" in Portsmouth, and the second ship will be launched at Scotstoun later this year for delivery in 2010. BVT said the delivery strategy for the third and final ship was under review.

Scottish Deputy First Minister and Govan MSP, Nicola Sturgeon, said "Shipbuilding plays an important role within Scotland's manufacturing base and it is clear, in all circumstances, the industry can have a bright future," she added.

2010 Start for Giant Nakilat Yard Complex - March 11th 2009 Qatar's new giant shiprepair and conversion yard at Ras Laffan will be ready to take in its first vessels from early next year.

Stephen May, director of facilities development for Qatar Gas Transport Co (QGTC, or Nakilat), says the first two phases of the project - which will comprise the two new Q-maxcapacity dry docks plus facilities for the repair and conversion of large and medium size vessels - will start operations in the first quarter of 2010. The project's fourth phase - facilities for the construction of small high-value ships of less than 120 metres in length - should be ready by the end of this year. May explains that this will be used to build tugs and supply boats to support Qatar's energy industries and renew the coastguard fleet. ************************

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T&T SHIPBUILDER & REPAIR NEWS ISSUE #019 – APRIL 2009.

CARIBBEAN DOCKYARD RE-STARTS OPERATIONS BIGGER & BETTER

On February 7th 2009 Caribbean Dockyard & Engineering Services re-started their dry-docking operations at Port Chaguaramas, Trinidad, West-Indies.

Caribbean Dockyard and Engineering Services Limited (CDESL), now owned by CL Marine Limited is fully compliant with the International Ship and Port Facility Security (ISPS) Code.

L - R: Members of the Executive Team.

Bisham Ramdhanie – Human Resource Manager Lakhan Bharath – Accountant Richard Oudan – Commercial Manager.

Wayne Beharry – General Manager – CDESL Business Development / Marine Operations Dave Persad – General Manager - CL Marine Business Development / Land Operations / HSE. The 23,000 dwt Floating Dry-dock known as “DOCK III” was constructed at Temse, Belgium by N.V. Boelwerf S.A. It replaces the smaller obsolete 11,000 dwt unit first used by Furness Withy & Co., circa 1940.

“DOCK III” (built 1988) main dimensions are 230 metres length x 39 metres width inside wing walls.

(47 metres width overall). It is fully self-sustaining, with onboard generators, fire fighting with safety alarm systems and can accommodate ships with draughts up to 9 metres above the keel blocks.

The seventh and largest ship to be dry docked at CDESL is the Nassau, Bahamas registered 70,912 dwt self-unloading Bulk Carrier “SOPOT” (built 1982) and owned and operated by SMT Shipmanagement and Transport Gdynia Limited.

“Dock III” was previously operating in Germany

by Neptun Werft GmbH, a member of the Meyer Neptun Group located in Rostock.

Both wet and dry-docking operations occur 24 hours / 7 days a week.

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“Dock III” (built 1988) Main Control Room headed by Dock Manager - Mr. Allan Ifill.

Advance dry-docking operations are carried out using both hydraulic and electrical controls.

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Undercover facilities housed on the sprawling 25.5 Acre shipyard site located adjacent to Chaguaramas Bay, include Ship Stores, a fully equipped Machining and Fabrication Shop, Electrical Department, Mechanical Department, Pipe and Valves Department, Blast and Paint Department.

In keeping with the T&T Government’s diversification efforts, small ships under 5,000 dwt are to be built at the Caribbean Dockyard facility.

In-house pipe fabrication / welding being undertaken for the 70,912 dwt self-unloading Bulk Carrier “SOPOT”.

Pipe fabrication is done primarily using the “Jig Method” to ensure proper installation onboard ships under repair.

Quality certification of repairs undertaken at the shipyard are completed to various worldwide ship classification society requirements, such as, DNV, BV, GL, Lloyd’s Register, RINA, to name a few.

According to Caribbean Dockyard latest Safety Notice, the facility has successfully operated 1,929 days without a lost time accident.

Hard hats, safety boots and protective eyewear are required at all times.

Plans in the near future include becoming an ISO 9000 (Quality Management) and ISO 14001 (Environmental Management System) certified organization.

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Guided shipyard tour undertaken by Wilfred de Gannes – S&R Deputy Leader on March 12th 2009.

Ships to be repaired by Caribbean Dockyard, also include Methanol Tankers, Bulk Carriers, Barges, Tugs, Ferries, Offshore Supply and Anchor Handling Tug Supply (AHTS) vessels.

View additional exclusive CARIBBEAN DOCKYARD photos on our Website: http://www.flickr.com/photos/37593470@N08/

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IMO CHIEF CALLS FOR ACTION ON GLOBAL WARMING Secretary General Efthimios Mitropoulos has stressed the need for IMO to take action on greenhouse gases.

The International Maritime Organization (IMO) is the United Nations Specialized Agency with the responsibility for the safety of shipping and the prevention of marine pollution by ships.

Speaking at the start of this meeting of IMO's Sub-Committee on Fire Protection, Mr. Mitropoulos noted that the theme for this year’s World Maritime Day is “Climate change: a challenge for IMO too!”. He said the theme was chosen by IMO's Council to give the organisation the opportunity to focus on an urgent issue of global dimensions.

He said: “I sincerely hope that the theme will galvanize intense action within IMO and the international maritime community throughout the year so that the contribution we will be able to make to the Conference scheduled to be held in Copenhagen in December to produce a new treaty instrument to succeed the 1997 Kyoto Protocol to the 1992 UN Framework Convention on Climate Change is the appropriate one, commensurate with our degree of care, concern and sensitivity about the environment – both marine and atmospheric.”

He added: “In acknowledging that climate change is a challenge for IMO too, we must seek an outcome as successful as the one we achieved last year when agreeing, unanimously, a series of drastic measures to further reduce the emission of air pollutants from ships. This time round, our endeavours should aim at adding IMO’s contribution to the world efforts to address the phenomena of climate change and global warming and thus demonstrate, once again, our undiminished determination to respond to our environmental responsibilities decisively, effectively and expeditiously. I am confident that your Sub-Committee will not shy away from adding, from its own perspective, any contribution needed to help stem those worrying phenomena.”

Turning to safety issues he said: “Environmental concerns apart, I sincerely hope that, this year, we will see a distinct improvement in the safety record of shipping and a substantial decline in the number and impact of marine casualties, which, last year, rose to an unacceptably high level. Except for cases of force majeure, the loss of lives at sea can hardly be justified nowadays and, therefore, even in the serious financial crisis and economic downturn the world is going through at the moment, any attempt to adhere to safety standards lower than the highest practicable ones IMO adopts should not be an option for anyone, just as the financial crisis should not be any excuse to slow down progress in the global efforts to stem climate change and global warming. Compromising safety – by, for example, deferring essential maintenance work or the replacement of faulty or obsolete equipment or by postponing training for officers and crew – may have catastrophic consequences, both for human lives and the marine environment, while dealing, at the same time, a strong blow to the image of the industry from which it will need great efforts and a long time to recover.”

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GULF WORK BOAT DEMAND REMAINS STRONG Despite the Wall Street 'meltdown' and the recent 60% drop in the price of oil, the demand for work boats, tugs and offshore service vessels remains strong in the Arabian Gulf.

Mr Kishore Navani, manager of Baird Events, said: 'The oil and gas producing states have not reduced their petroleum exploration and development activity at all.'

Mr Navani, who is organising the forthcoming Work Boat Gulf 2009 event, said: 'We have had very strong interest in the event. This is not surprising as we learn almost daily of new vessels being ordered for or delivered to the Gulf.'

Confirming the Baird Events experience were recent comments from leading petroleum logistics analyst John Westwood of Douglas-Westwood Ltd of the UK. Mr Westwood said the growing Middle East region will itself need vast amounts of energy, and eventually oil supplies will be unable to meet demand, causing prices to rise dramatically.

Westwood calmed fears of those dealing with the current economic conditions and falling oil prices, adding the 'energy sector will remain very good as a long-term investment,' the key word being long-term. On July 11 of this year oil prices hit $147/bbl, and today they are hovering around $50/bbl.

Westwood said the current situation was caused by 'two decades of underinvestment,' and the oil and gas industry (both offshore and onshore) needs to spend $10 trillion by 2030 to get back on track.

'Global energy demand is up 37% since 1990,' Westwood said, 'and across the world the demand for energy was met 35% by oil.'

In 2007 the average oil prices increased 58%, while companies' oil reserves fell. Another interesting note - while prices increased company revenues per barrel were the same as in 2006.

'The 'easy oil' has gone, and the remainder is in difficult places,' he said, adding that in the future there is going to be a time when the oilfield production decline cannot be replaced.

Westwood predicted offshore oil and gas production and spend to grow. While deepwater production shows the fastest growth, shallow water, like the water in the Middle East, is the largest offshore market.

Baird Events is working closely with Saudi Aramco, the largest user of OSVs and work boats in the Gulf, on a major Forum to be held alongside the Work Boat Gulf exhibition. ************************ Page 14 of 18

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ISSUE #019 – APRIL 2009.

MY FAVORITE MARITIME BOOK

Rats, Rust and Two Old Ladies (2009) David Creamer Delivering two 38-year-old Mississippi river tugboats halfway around the world from Bahrain to Trinidad would not be every ship master's dream employment. However, for Captain David Creamer, the seven-week voyage of the “Justine” and “Martha” was not only unique, but a memorable experience he was unlikely ever to forget or repeat.

As the author relates the day-to-day problems that the twelve crewmen encountered while living onboard, the reader is drawn into their world. The discovery of a plague of rats, steering problems, running out of fresh water and running aground in the middle of Sitra port, Bahrain are just some of the difficulties the two old boats encountered on their way to the Caribbean.

Designed principally for river work and not as ocean-going or deep-sea vessels, the hapless “Justine” and “Martha” encountered a short but violent Mediterranean storm on the passage from Port Said to Malta rendering conditions onboard extremely uncomfortable. On the leg of the journey from Malta to Trinidad, they hit more bad weather, partially flooding the “Martha”. It also became apparent that the fuel taken onboard by both vessels was biologically contaminated. Forced to stop at Gibraltar to clean the fuel tanks, the author and Chief Engineer visited Nerja in Spain, which coincided with the start of the Mardi gras.

Although blessed with good weather for their crossing of the Atlantic, this epic voyage almost ended in disaster just a few meters from the final destination. An explosion from the engine- room, followed by a high-pitched mechanical whining, signalled the end of both engines, leaving the “Justine” to drift helplessly towards the jagged edges of a ramshackle concrete pier... http://moo.whittlespublishing.com/whittles/item/5355

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MARITIME INDUSTRY WEB LINKS ALL PURPOSE DIESEL LIMITED - www.allpurposediesel.com/ ALSTONS SHIPPING LIMITED - www.alstonsshipping.com/ AMERICAN CHAMBER OF COMMERCE OF T&T (AMCHAM) - www.amchamtt.com/ ARAB SHIPBUILDING AND REPAIR YARD COMPANY (ASRY) - www.asry.net/ BARCLAYS BANK - www.barclays.co.uk/ BVT - www.bvtsurfacefleet.com/ CANTREX ALUMINIUM - www.cantrexaluminium.com/ CATERPILLAR LOCAL DEALERSHIP - www.tracmac.com/ COMPREHENSIVE INSURANCE BROKERS - www.insurance.co.tt/ ENGINE TECH CO. LIMITED - www.man-mec.com/ FIFTH SUMMIT OF THE AMERICAS - www.fifthsummitoftheamericas.org/ GAC - ALSTONS - www.gacworld.com/ HYUNDAI HEAVY INDUSTRIES – http://english.hhi.co.kr/ INTERNATIONAL MARITIME ORGANIZATION (IMO) - www.imo.org LAKE ASPHALT OF TRINIDAD AND TOBAGO (1978) LTD. - www.trinidadlakeasphalt.com/

MINISTRY OF TRADE & INDUSTRY - www.tradeind.gov.tt/ ORGANIZATION OF AMERICAN STATES - www.oas.org/ PRESSURE CONCRETE PLUS - www.pressureconcreteplus.com/ QATAR GAS TRANSPORT COMPANY (NAKILAT) - www.nakilat.com.qa/ SMT SHIPMANAGEMENT AND TRANSPORT GDYNIA LIMITED - www.smtgdynia.pl/ STX Europe - www.stxeurope.com/ THE PHI GROUP - www.phigroup.net TRACMAC – www.tracmac.com ************************ Blue highlighted links indicate additional websites added in this month’s newsletter.

Red highlighted links indicate Advertisers for the current issue.

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CONTACT INFORMATION Mr. Wilfred de Gannes, Deputy Leader, T&T Shipbuilding and Repair Cluster, Post Office Box 2853, Chaguaramas, Trinidad and Tobago.

Tel: (868) 753 - 6057 Fax: (868) 662 - 6326 E-mail: degstt@hotmail.com Website: www.tts-r.com ************************

FOR YOUR INFORMATION

AmCham Head says move quickly on Diversification.

The President of the American Chamber of Commerce of T&T (AmCham) has called for a more aggressive approach to diversification of the economy from oil and gas.

Speaking at the AmCham monthly meeting at the Courtyard by Marriott Hotel in February 2009, he said “We clearly need both defensive and offensive strategies. We need to contain resources, recognizing reduced demand and prices for our exports and we need to channel some of those limited resources into priority areas for diversification.”

TRINIDAD LAKE ASPHALT had its early beginning in 1595 when English explorer Sir Walter Raleigh used the pitch at La Brea, Trinidad to repair his ships.

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