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EIMSKIPâ€™S GLOBAL NEWS 2018 EDITION

GLOBAL NEWS

Eimskip‘s vessels meet in the Faroe Islands fjord

TABLE OF CONTENTS THE GOAL OF WEEKLY SERVICES REACHED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 FLYING FISH �� 4 WEEKLY SERVICE TO NORTH AMERICA �� 6 FROM HALMSTAD TO HELSINGBORG �� 8 EIMSKIP ACQUIRES 75% SHARE IN SHIP-LOG �� 8 INVENTORY FINANCING �� 10 FRESH FISH ALL OVER THE WORLD �� 10 EXPANSION OF TÓRSHAVN HARBOR �� 11 OUR GLOBAL NETWORK ��12-13 PORT OF THE FUTURE – SIKUKI NUUK HARBOR ��14 REDUCING THE CARBON FOOTPRINT ��16-17 EXTERNAL GROWTH THROUGH ACQUISITIONS ��18 KEY FIGURES ��19 WAREHOUSE SERVICES IN AARHUS ��20 EIMSKIP‘S MISSION AND VISION ��21 CONTACT US �� 22 PICTURES FROM EIMSKIP‘S OPERATIONS, ALL CAPTURED BY EMPLOYEES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

PUBLISHER Eimskip Korngardar 2 104 Reykjavík Iceland +354 525 7000 eimskip@eimskip.com eimskip.com

2 GLOBAL NEWS

EDITOR Eimskip Marketing

PRINTING Litróf printing, Iceland

LAYOUT Eimskip Marketing

PAPER Magnostar-Sappi

The printing of this magazine has Nordic Swan Ecolabel accreditation. The paper used for the magazine has Nordic Swan Ecolabel accreditation an carries the FSC label.

Gylfi Sigfússon, President and CEO

THE GOAL OF WEEKLY SERVICES REACHED

Eimskip has a rich history in shipping and celebrated its 104th anniversary in January 2018. Eimskip has become globally known for its expertise of handling of temperature-controlled cargo, both as a carrier and a freight forwarder. Eimskip is motivated by its vision to achieve and maintain excellence in transportation solutions and services. Eimskip is operationally and financially strong and is focused on its mission to be a leading transportation company in the North Atlantic with connections to international mark ets and to be specialized in worldwide freight forwarding services. Eimskip runs an extensive network of 63 offices in 20 countries in four continents and has about 1,850 employees. The company operates 22 vessels in six different liner routes. It also operates chilled and cold storages, dry warehouses and terminals in its market area. In addition, Eimskip operates trucking, distribution and airfreight services.

Eimskip has defined its home market as the North Atlantic, from New England, USA to Northern Norway/Russia. Eimskip diversifies risk by offering both liner and forwarding services. From late 2016 until mid-year 2017, Eimskip strengthened its freight forwarding network with accretive acquisitions of three specialized forwarding companies. Eimskip strives to maintain and improve the strength of its liner services in the North Atlantic, expanding the range of services on the company’s home market and continuously fine-tune its customer services and international forwarding services. In February 2017, Eimskip began offering weekly coastal service in Iceland and as a part of its organic growth strategy, Eimskip strengthened its Trans-Atlantic services by offering new weekly services between Northern Europe and North America in late 2017. Eimskip’s Trans-Atlantic volumes are three times larger than they were in 2009 and in the year 2017, volumes were up 31%. This volume growth, together with a new short-sea agreement with the international shipping company CMA CGM between

Halifax, Nova Scotia and Portland, Maine in the US, creates foundation for the weekly services. It is a big step for the company to start weekly service on its Trans-Atlantic route and it opens doors to a new customer base that demands more frequency that can be achieved by weekly services. To further strengthen the company’s foundation and to support the company’s growth, Eimskip has been investing in infrastructure in its home market, e.g. containers, cranes and other equipment.

Eimskip puts emphasis on participating in global seafood exhibitions, e.g. in Boston and Brussels. Eimskip is actively participating in international dialogue and cooperation on the future of the Arctic, through the Arctic Circle conventions. Eimskip highly values its commitment of being a social responsible company. We are working on reducing Eimskip’s ecological footprint and on monitoring and publishing the results. The accumulated reduction of the company’s carbon footprint in the years 2016 and 2017 was 12.3% compared to the base year 2015, calculated per ton of transported units. At the end of last year, Eimskip became a participant of the UN Global Compact, which is the world’s largest corporate sustainability initiative, with more than 12,000 participants in over 160 countries. The future calls for more automation in the transportation industry, e-commerce is growing at a fast pace and there is growing demand for fast deliveries of smaller shipments. Implementation of blockchain into the transportation industry has begun and we have to embrace the changing environment. I wish you all a prosperous year 2018.

Fish farming in the Faroe Islands

FLYING FISH

Large volumes of farmed Faroese salmon arrive to UK every week on Eimskip’s regular liner services. Eimskip offers two weekly arrivals to the UK, Sunday afternoon into Immingham (on the east coast of England) and Tuesday evening into Scrabster (on the north cost of Scotland). It is a very time-sensitive operation, requiring good teamwork and coopera tion among everyone involved, beginning with the loading of the container at the salmon factory, trucking towards the vessel and loading into the correct locations on board the vessel, to ensure that the containers can be discharged quickly when arriving to the UK. Eimskip’s office in the UK co ordinates the vessel’s arrival, its customs clearance and discharge to ensure that the reefer containers of fresh salmon can be transported quickly by road to major airports for onward delivery. Most of Eimskip’s deliveries are to Heathrow Airport due to a good frequency and availability of space on passenger airlines. Eimskip also delivers to the airports of Glasgow and Manchester for onward delivery. Salmon is one of the largest exports (by weight) travelling through Heathrow Airport and Eimskip is the main provider of these services. When the salmon arrives to the airport handling facility, it is discharged from Eimskip’s containers into a temperature-controlled environment. Deliveries can be prioritised depending on flight cut-off times. The pallets are screened using an X-Ray machine. The Unit Load Device (ULD) is hand loaded with 161 boxes on a full aircraft pallet. The handling facilities are designed to the flexibility and speed required to handle high throughput in a short space of time. The ULDs are then loaded directly from the stor4 GLOBAL NEWS

age area onto chilled trucks using a powered roller bed system. Finally, the trucks transport the ULDs to the main airline warehouses, where the cargo is loaded onto the aircraft. Based on Eimskip’s successful integration of logistics on sea, land, road and air, it is possible for salmon from the Faroe Islands to be harvested on a Friday and to arrive in USA on the following Monday.

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Increased frequency between North America and Europe

WEEKLY SERVICE TO NORTH AMERICA

In November 2017, Eimskip reached the strategic goal of offering weekly service to and from the US and Canada, connecting Europe with Scandinavia. By adding the third vessel to the Green Line, Eimskip now offers weekly coverage to all ports in the area. Being able to offer weekly service is a true game-changer for Eimskip and its customers; since serving as the primary carrier for customers was difficult without weekly service, given that most supply chains are designed on the basis of a weekly schedule. Today, Eimskip can service all of its customers with regular and frequent port calls to New England, Nova Scotia and Newfoundland, connecting with Europe.

of cargo are handled, both as import and export, via the Halterm Container Terminal in Halifax, a true gateway to the eastern part of Canada.

Eimskip has been calling the Argentia Freezers and Terminals in Argentia, Newfoundland, for over 30 years. Argentia is strategically located to serve both import and export in Newfoundland. With its recent investment in a 140 ton Gottwald harbor crane, Eimskip is now capable of handling all kinds of cargo at the port of Argentia, e.g. seafood, consumer goods, machinery and project cargo. All of it can be handled by Eimskip’s vessels and terminals.

With strategic calls to the International Marine Terminal in Portland, Maine, Eimskip can service all importers and exporters in New England with regular connections to main ports in Continental Europe, the UK, Scandinavia and the Baltics. By operating its own Container Freight Station (CFS) at the terminal, Eimskip is able to offer full Less-than-Container Load (LCL) and break bulk cargo handling, in addition to normal container movements.

Seasonal calls to St. Anthony on the Great Northern Peninsula in Newfoundland are tailor-made for customers looking to export regional seafood, with calls directly to the St. Anthony Cold Storage, making business all the more convenient. Eimskip calls St. Anthony from June to December, subject to ice conditions.

With regular calls to Halifax, Eimskip is able to service the Atlantic coast of Canada. Seafood, industrial goods, machinery and various other types

Eimskip is proud of its increased service and grateful for its supportive customers.

6 GLOBAL NEWS

WEEKLY SHORT SEA SERVICES BETWEEN HALIFAX AND PORTLAND Portland United States

Halifax Canada

FROM HALMSTAD TO HELSINGBORG In May 2017, Eimskip changed its port of call in Sweden from Halmstad to Helsingborg. It is very important to have a good facility for the terminal operation so that the unloading and loading of trailers and containers is smooth and effective. The temporary terminal building in Helsingborg will be modified and the Eimskip office will move to the same building. The facility is situated in the logistics area for fruit and vegetables in Helsingborg, close to the motorway and not far from the Port of Helsingborg. This will be the future facility for Eimskip’s Swedish operation for the coming years. Once modified, the office space will be 500 sqm, the terminal building will be 2,000 sqm and the yard area will be 4,000 sqm. The terminal will have three loading doors on ground level and six loading bays for loading and

unloading trucks and containers. The terminal is well equipped with up to five-ton forklifts for container loading and the yard will be used to load flat racks and project cargo up to 10 ton. Less-than-Container Load shipments have increased significantly during the last years and the new terminal will meet operational needs for the coming years. Eimskip Sweden is an AEO certified company and is taking care of customs clearance for a number of large Swedish companies. The terminal is a bonded area and is also used for customs clearance and cross docking of shipments from third party companies, e.g. cargo coming in with rail connection from China, banana containers from South America, frozen fish from Iceland, paper to the US and metals from Canada.

EIMSKIP ACQUIRES 75% IN SHIP-LOG Eimskip strengthened its position within Scandinavian freight-forwarding logistics services by acquiring 75% of SHIP-LOG A/S in Denmark and SHIPLOG (Thailand) Ltd in June 2017. SHIP-LOG A/S was founded in 2003. Based on the concept of applying a modern outlook and knowledge of logistics to respond in the best possible manner to clients’ wishes and requirements. Logistics knowledge is the basis of SHIP-LOG and it has brought the company where it is today. The company has specialised in managing sea and air transport and consolidations worldwide. SHIP-LOG operates service centres in central Denmark and central Thailand. The company’s annual turnover amounts to approximately EUR 17 million, with an EBITDA ratio of 5-6%, and transporting about 10,000 TEU per year. Each year since 2007, SHIP-LOG has been awarded the highest credit quality, AAA. 8 GLOBAL NEWS

SHIP-LOG employs 30 people and will, as of 1 March 2018, move into Eimskip’s office in Aarhus to exploit the anticipated synergy between the two groups. By integrating the Eimskip Sea & Air worldwide freight-forwarding services in Denmark into SHIP-LOG, the company is able to offer the valued clients of Eimskip the full logistics scope of services. Integration with Eimskip’s freight-forwarding activities in Denmark is now in the works. SHIP-LOG’s CEO and founder, Mr. Simon Steenholt, foresees further expansion and growth opportunities between the groups, focusing on new segments and possibilities within the various freight-forwarding services and solutions offered by SHIP-LOG. The merger of SHIP-LOG opens opportunities for the Eimskip Group, where SHIP-LOG benefits from being a part of the group network as well as for the different facilities that Eimskip controls and owns worldwide, which together with Eimskip’s strong brand will support the future growth of SHIP-LOG from a financial and volume perspective.

N1 is a leading Icelandic retail and service company operating in the marine, tourist, agriculture, construction and aviation industry. Marine Service N1 specializes in providing high quality fuel, lubricants, and operational products to vessels of all sizes: cruise ships, trawlers and vessels sailing in Icelandic waters. N1 is the sole distributor of ExxonMobil and Q8 lubricants in Iceland. We run a large distributing network in most harbors around Iceland and offer barge, tank, truck and ex-pipe delivery in the Reykjavík area as well as tank truck delivery throughout the coastline. Quality Solutions At N1 we focus on product quality assurance and reliability in marine fuel solutions. We offer a range of quality products including MGO and IFO. Our people provide start-to-finish expertise and customer service that guaranty fast results and reliability.

ENNEMM / SÍA / NM82263

Welcome to N1 Marine Service

We deliver 24 hours a day, 365 days a year around the coastline of Iceland. Key Harbours Ísafjörður Akureyri Ólafsvík

Grundarfjörður

Seyðisfjörður Reyðarfjörður Neskaupstaður

Reykjavík Hafnarfjörður

Vestmannaeyjar

Marine service Email: marine@n1.is Tel: +354 4401100 www.n1.is/en

There for you

INVENTORY FINANCING In November 2017, Eimskip signed an agreement with GAMMA Capital Management to establish the inventory financing company Krit Trade Finance. With the agreement, Eimskip can now offer additional value-added services to its customers by connecting logistics services with

inventory financing. By using its IT systems to connect with the financial services of Krit Trade Finance, Eimskip strives to create a fast, efficient and secure financing solution for its customers.

FRESH FISH ALL OVER THE WORLD Eimskip acknowledges the fact that it is carrying high value cargo by focusing on fast deliveries and reliability. In recent years, Eimskip has seen an increased demand for fresh fish, both white fish and farmed salmon from Iceland, a trend that is expected to increase in the coming years.

fish that combines land, sea and air. This means that fresh fish is currently delivered to the US in four days and to China in five days. This gives both buyers and sellers a new opportunity, as fresh fish is more valuable than frozen.

To be an active logistics partner in the field of fresh fish, one needs to be able to think in solutions and to be able to combine transport modes, given that a short transit time is vital. Working in close cooperation with our Faroese colleagues, Eimskip has developed a distribution system for fresh

Eimskip strives to be a leading logistics and shipping partner for the Icelandic seafood industry and other countries it serves by striving to become even more flexible in its sailing schedule while heeding customer needs. Eimskipâ€™s customers demand a dependable sailing system that is flexible.

10 GLOBAL NEWS

The port of Tórshavn

EXPANSION OF TÓRSHAVN HARBOR

A massive development project at Faroe Ship’s home port, Tórshavn’s East Harbor, is currently underway and is expected to be finished in less than two years. Once completed, the harbor’s facilities will be greatly enhanced offering growth opportunities for Faroe Ship. The East Harbor’s berthing capacity will be significantly boosted with the addition of a new terminal for Faroe Ship, capable of receiving Eimskip’s new 2,150 TEU container vessels, which are expected to be delivered in 2019.

“The expansion will further strengthen our position in operating the port as a transshipment hub, a position which is already quite strong”, Mr. Nielsen added. “It is also worth noting that our new terminal will have enough length of berth and water depth to accommodate the new 2,150 TEU container vessels. Furthermore, the Port of Tórshavn will be in the position of receiving additional calls of cruise ships, which in turn may present additional business opportunities to our agency department.”

The expansion will make Tórshavn a major transshipment hub, with 95,000 sqm of docking and storage space added to the East Harbor’s existing 45,000 sqm.

The expansion of the East Harbor is scheduled to be completed by 30 November, 2019.

According to a spokesperson from contractor J&K Petersen, the construction project, which began in April 2017, is progressing as scheduled. Approximately one million cubic meters of rock have been dumped into the sea so far, as part of the land reclamation process, or about one-third of the estimated total.

Faroe Ship was founded in 1919 and has been a part of the Eimskip Group since 2004. Faroe Ship is the largest provider of transport and logistics services in the Faroe Islands, offering an extensive network of domestic offices, trucks, terminals and warehouses, including cold storage facilities. Under the Faroe Express logo, Faroe Ship also offers a worldwide courier service.

“Of course we are excited about this development”, says Faroe Ship CEO Bogi P. Nielsen. “It will not only provide us with much needed additional space for maneuvering and for possible future expansion, but it will also help us to optimize our operations, not least by way of improved logistics, which will allow for increased efficiency.”

With five weekly sailings from the Faroe Islands to Iceland, Scandinavia, the UK, Continental Europe and North America, Faroe Ship serves exporters as well as importers. Faroe Ship has a longstanding collaboration with Maersk, offering further connections to Asia, the Middle East, Africa and the Americas.

Anchorage Nuuk Húsavík Sauðárkrókur Grundartangi Dutch Harbor

Akureyri Reykjavík

Vestmannaeyjar Runavík Tórshavn

Ålesu

Måloy Bergen

Prince Rupert

Fre

Stavanger

Scrabster Aberdeen

Århus

Killybegs

Bremer

Immingham Grimsby

St. Anthony

Seattle

Velsen Rotterdam

Vlissingen

Portland

Argentia Bayside Halifax Portland

New York

Bilbao

Everett

Vigo Porto

Oakland

Barcelona

Lisbon Valencia

Norfolk Los Angeles Long Beach Charleston Houston

Casablanca

New Orleans Agadir Miami

Veracruz

Kingston

Puerto Limon & Moin Puerto Caldera, Punta Morales

Panama

Caracas Lagos Abidjan

Guayaquil

Lima Callao

Rio de Janeiro Santos

Rio Grande Valparaiso

Buenos Aires

Mar del Plata

Puerto Madryn

Puerto Deseado

Ushuaia

Montevideo

EIMSKIPâ€™S GLOBAL NETWORK

Hammerfest TromsĂ¸

Kirkenes

Murmansk

Sortland

Sandnessjoen

und Helsinki

edrikstad

Helsingborg

St. Petersburg

Riga

Klaipeda Gdynia rhaven Swinoujscie Szczecin m

Moscow

Vladivostok

Odessa

Genova

Novorossiysk

Constanta

Dalian

Sendai

Tianjin

Istanbul

Tokyo Gioia Tauro

Piraeus

Qingdao

Izmir

Busan

Osaka

Limassol Haifa Port Said

Bahrain Shenzhen

Jebel Ali

Xiamen

Taipei

Hong Kong Hanoi

Jeddah Nhaa Sheva

Manila

Bangkok Ho Chi Minh City

Port Harcourt Port Kelang Singapore

Jakarta Surabaya

Brisbane

Cape Town

Fremantle

Adelaide

Melbourne

Sydney

Construction of Sikuki Nuuk Harbor

PORT OF THE FUTURE – SIKUKI NUUK HARBOR

Sikuki Nuuk Harbor A/S in Greenland has built a new and modern container terminal, complete with harbor cranes, warehouses and workshops, and leases the facilities to the Royal Arctic Line A/S. The new terminal was opened for business in September 2017, allowing for increased efficiency in the handling of containers. The main constructions involves the following: • • • • •

Berth of 310 m + 50 m 47,000 sqm container terminal Depth of 10.5 m + 5.5 m v. LAT Container yard for 3,300 TEU with 500 reefer plugs Mobile harbor cranes with higher productivity

Terminal and buildings can be expanded in the future. The new terminal will allow much larger vessels to call the port than previously possible. In 2019, Eimskip and Royal Arctic Line will receive three 2,150 TEU container vessels, from a shipyard in China. The 180 m long and 31 m wide vessels will be ice-classed to meet the newly adopted IMO Polar Code for shipping in Arctic waters. The vessels will also be IMO NOx Tier III-compliant and be equipped with exhaust gas scrubbers. The companies’ intensions is to work together through capacity sharing on larger vessels, which will increase efficiency and service reliability. 14 GLOBAL NEWS

The new terminal will also allow other harbor-related companies to expand and increase their activities, including trawlers, cruise ships, tourism and exploration companies.

INTERNATIONAL MARINE TERMINAL 460 Commercial Street, Portland, Maine www.maineports.com

REDUCING THE CARBON FOOTPRINT

Eimskip respects the environment and recognizes the effects that climate change could have on society and its business activities and the need for a low-carbon economy. In 1991, Eimskip became one of the first com panies in Iceland to establish an environmental policy as a main driver for actions for improved ecological footprint. In recent years, the company has been focusing on reduced emissions, improved waste disposal and has been working on increasing the transparency of its ecological footprint throughout the supply chain. The focus has been on extending the monitoring of emissions and waste from the company’s own activity by collecting electronic data from its supply chain, direct from its emitting assets, and streaming the data automatically to a common data ware16 GLOBAL NEWS

house. Digitization of emission and waste-registration of data from the supply chain through solid data links enables continuous monitoring of measures and provides reliable and transparent information on Eimskip’s environmental accounting. The focus in 2017 was on efficient and solid data information system for legal compliance to environmental laws and regulations. Eimskip’s vessels are now equipped with the newest software technology, enabling the fleet to share compliance information to the fleet management electronically on a daily bases. This makes it possible to continuously support the crew members in their work and guide them through the more complex environmental compliance.

Eimskip has been working on reducing its carbon footprint in the recent years with good results. The accumulated reduction of the company’s carbon footprint in the years 2016 and 2017 was 12.3% compared to the base year 2015, calculated per ton of transported units. The operation of the company’s vessels is the main contributor to its carbon footprint. Eimskip’s aim is further reduction of its footprint in the coming years, with a goal of 40% accumulated reduction in 2030 based on the 2015 numbers. This goal of total reduction is comparable with Iceland’s decision of joining the European Union and Norway in their common goal of 40% reduction of emissions in 2030.

In 2017, Eimskip introduced an efficient carbon calculator on its website that enables the company’s customers to study and select the most environmental friendly way of transport, and thereby reduce their own carbon footprint. The calculator uses actual environmental data from Eimskip’s operations. Eimskip will continue focusing on reduced ecological footprint throughout the supply chain. In January 2017 Eimskip signed a contract with a shipyard in China on building two 2,150 TEU ice class Polar Code container vessels with expected delivery in the middle of 2019. The new vessels are built in line with new environmental standards and are designed to be fuel-efficient and environmental friendly.

EXTERNAL GROWTH THROUGH ACQUISITIONS Eimskip is a leading transportation company in the North Atlantic with connections to international markets and is specialized in worldwide freight forwarding services. Eimskip has experienced solid organic growth in recent years, which has been supported by accretive acquisitions that today form a vital part of Eimskip.

Cargocan Cargocan was established in St. John’s Newfoundland, Canada in 1992 an is a leading forwarder within the seafood industry of Newfoundland and Labrador. The company offers both import and export services and makes arrangements for small shipments, dry and temperature controlled container movements, as well as over dimensional break-bulk items.

CSI – Container Services International CSI is specialized in container management and offers services which include the supply of shipper owned containers, for storage and shipping, and consulting services for container trade.

Extraco Int. Forwarding Extraco was founded in Rotterdam in 1991 and is a specialized forwarding company in handling fruit concentrate. Extraco’s customers are mainly fruit producers and traders in South America, South Africa, India and Asia. Among Extraco’s activities are warehousing, juice blending, laboratory services, custom clearing and distribution throughout Europe. The company is SKAL (approved to handle organic products) and AEO certified as of 2012.

Harbour Grace CS Inc Harbour Grace CS Inc was founded in 1994 by people with an interest in fishing and harvesting fish and is now one of the major employers in Harbour Grace. For decades, Harbour Grace was one of the most important fishing towns in Newfoundland. Today, Harbour Grace has a population of about 3,500 people, with efficient service facilities in the town and the surrounding area. The distance to St. John´s, the capital of Newfoundland and Labrador, is only 100 km via the highway.

Jac. Meisner Jac. Meisner was an important pioneer in refrigerated transport and is now one of the leading companies in the market. For almost sixty years, 18 GLOBAL NEWS

the company has gained extensive knowledge in dealing with all kinds of goods. The independence of the company guarantees a flexible organization that stays ahead of the future requirements of a market driven by technological developments.

Mareco NV Mareco was founded in Antwerp, Belgium in 2002. The company provides one-stop solutions for international transport of food and perishable products. Geographically the company is focused on transport to West, Central and South Africa.

Pelican Cargo Pelican Cargo is a global freight-forwarding specialist with services to over 750 destinations worldwide and global import services and customer clearance. The company offers airfreight services, sea freight services, road transport and packing services.

SHIP-LOG SHIP-LOG was founded in 2003 and is specialized in managing transport and consolidation worldwide. SHIP-LOG operates via its Freight Management Centres, which are located centrally in Europe and Asia, where its dedicated key personnel in the individual divisions manage the transports.

St. Anthony Cold Storage St. Anthony Cold Storage operates a state-of-the-art cold storage facility located in the Town of St. Anthony, Newfoundland. The facility is in excess of 50,000 square feet and has a storage capacity of 6,000 pallet positions. It is constructed from the highest technical standards of refrigeration and product handling equipment, including a mobile racking and power management system. St. Anthony Cold Storage also has 15,000 square feet of dry storage space for packaging, salt and any other items that companies may require for their operation.

KEY FIGURES The year 2017 was a year of growth for Eimskip, where volume, revenue and EBITDA were record high. The company is financially strong with solid equity ratio. More than half of Eimskipâ€™s revenue comes from international operations. The companyâ€™s liner services in the North Atlantic generated 66% of revenue in 2017 and 34% came from forwarding services.

geographical split of revenue

revenue

700

EUR million

600 500

400 300

2017

24%

200

48%

100 433.8

451.6

499.6

513.9

664.0

2013

2014

2015

2016

2017

ebitda

EUR million

Iceland

Faroe Islands

Norway

Europe

Asia

Other

40 30

revenue by business segment

20 10 37.1

38.5

45.2

53.5

57.2

2013

2014

2015

2016

2017

net debt and equity ratio

110

EUR million

34%

100%

100

90%

80%

70%

66%

60%

50%

40%

30%

20%

20 10

2017

33.0

24.9

35.4

41.6

102.8

2013

2014

2015

2016

2017

10% 0%

Liner services Forwarding services

Aarhus, Denmark

WAREHOUSE SERVICES IN AARHUS

Eimskip Denmark A/S is running a diversified warehouse operation inside their 21,000 sqm building, at a unique location inside the APMT container terminal in Aarhus. One third of the space is used as a cross-dock operation for the export/import volumes to and from Iceland and the Faroe Islands. The remaining part of the facility is used for various activities such as: • • • • • •

Stuffing and stripping of import and export containers Storage and pick and pack services Oversized cargo projects, handling both stuffing and stripping on flat racks and open-tops Manufacturing of wood crates, wrapping, lashing, and securing of goods Repair shop for both dry and reefer containers PTI check carried out both on ground and on chassis and check and temperature setting

Very often, a machine and other expensive parts are delivered in non-secured fashion. The warehouse employees are experts in manufacturing 20 GLOBAL NEWS

customized packing material from wood to secure the cargo. Atlantic Trucking, the trucking company of Eimskip Denmark A/S, performs most of the transport to and from the warehouse.

TO I

MISSION VISION EIMSKIP IS A LEADING TRANSPORTATION COMPANY IN THE NORTH ATLANTIC WITH CONNECTIONS TO INTERNATIONAL MARKETS AND IS SPECIALIZED IN WORLDWIDE FREIGHT FORWARDING SERVICES

SECURE A GOOD RETURN FOR …

SHAREHOLDERS … WITH PROFITABLE GROWTH

BE AN OUTSTANDING WORKPLACE FOR …

EMPLOYEES

… WITH GREAT TEAM SPIRIT AND AMBITION

EXCELLENCE IN TRANSPORTATION SOLUTIONS AND SERVICES

CREATE VALUE FOR …

CUSTOMERS

… WITH OUTSTANDING SOLUTIONS AND SERVICES

SHOW CONCERN FOR THE …

SOCIETY

… WITH SOCIAL RESPONSIBILITY AND REDUCED ECOLOGICAL FOOTPRINT

Eimskip Belgium Noorderplaats 5 (bus 5)B 2000 Antwerpen Tel: +32 3 212 1030 info@eimskip.be

Eimskip Norway Hansjordnesgt. 9, P.O.Box 2035 N-9265 Tromso Tel: +47 9799 1610 shipping@eimskip.no

Eimskip Brazil R. Orossanga 26 - cj 54 04052-030 Sao Paulo, SP Tel: +55 11 5594 2001 michelle@mareco.com.br

EIMSKIP Canada 33 Pippy Place, Suite 305 St. John’s, Newfoundland Tel: +1 709 754 7227 info@eimskip.ca

Eimskip Poland ul. Sportowa 8 81-300 Tel +48 587722751 plgdn@eimskip.pl

Eimskip Denmark Østhavnsvej 37 8000 Aarhus Tel: +45 7020 1602 info@eimskip.dk

Eimskip Spain C/ Arenal 28-1°, 36201 Vigo Tel: +34 986 116080 info@eimskip.es

Eimskip Vietnam 36 Bui Thi Xuan Street Ben Thanh Ward, District 1 Ho Chi Minh City Tel: +84 8 2646845 info@eimskip.vn

Faroe Ship Eystara Bryggja, Postboks 47 FO-110 Tórshavn Tel: +298 34 90 00 info@faroeship.fo

Eimskip Sweden Porfyrgatan 1 254 68 Helsingborg +46 42 17 55 00 info@eimskip.se

Eimskip Deutschland Willy-Brandt-Straße 57 20457 Hamburg Tel: +49 40 32 33 30 00 info@eimskip.de

Eimskip Netherlands Waalhaven Z.z. 21 3089 JH Rotterdam Tel: +31 10 751 7777 info@eimskip.nl

Eimskip Iceland Korngardar 2 104 Reykjavik Tel: +354 525-7000 service@eimskip.is

Eimskip UK Middleplatt Road, Immingham, NE Lincolnshire DN40 1AH Tel: +44 1469 550 200 info@eimskip.co.uk

Eimskip Italy Via Roma 2/12 16121 Genoa Tel: +39 010 85 78 913 info@eimskip.it

Eimskip US 460 Commercial Street Portland, ME 04101 Tel: +207 200 2412 info@eimskipusa.com

22 GLOBAL NEWS

Eimskip Thailand 90 Ratchadapisek Road, 211/6, 5th Floor Modern Bath Tower Dindaeng Sub-District Bangkok 10400 Tel: +66 2 102 4600 till 8. info@eimskip.th Eimskip Japan Room 53 5 f tanaka tacho bldg 2-9-6 kanda –tacho chiyoda-ku TOKYO, 101-0046 Tel: 81-3-6206-8585 reefer@eimskip.com Eimskip China 23rd floor, Times Square, No 52 Hongkong Mid Road, Qingdao, 266071 Tel: +86 532 82 910 000 info@eimskip.cn Eimskip Russia Lenina Street 82 9th floor, office 911 183038 Murmansk Tel: +7 92 12 77 80 13 mur@eimskip.no

PICTURES FROM EIMSKIPâ€˜S OPERATIONS, ALL CAPTURED BY EMPLOYEES

WEEKLY SERVICE IN THE NORTH ATLANTIC Reliable service with increased frequency

Eimskip has invested in the future of its container liner services and has reached its long-term goal of weekly dependable service on all sailing routes.

eimskip.com