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©2003-8 Electronic Shipping Solutions. All rights reserved. 1
STRICTLY CONFIDENTIAL
Overview of ESS Presentation for
Intertanko Council18 Nov 08
©2003-8 Electronic Shipping Solutions. All rights reserved. 2
AGENDA
1. ESS
2. Legal Approvals
3. Benefits (i.e., risk, cost, operational, etc.)
4. Current Rollout Status
5. Demo (sign eDocs)
6. Q&A
©2003-8 Electronic Shipping Solutions. All rights reserved. 3
MOTIVATION
“Our Age of Anxiety is, in great part,
the result of trying to do today's jobs
with yesterday's tools....”
- Marshall McLuhan
©2003-8 Electronic Shipping Solutions. All rights reserved. 4
ESS
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OVERVIEW
Services ESS provides on-demand eDocs Services which enable users to replace key paper shipping documents, such as the negotiable bill of lading, cargo manifest and certificate of origin with original electronic documents (eDocs)
Scope ESS focuses on the eDocs required to trade and import water-borne cargoes , commencing in the liquid bulk market
Exchange ESS provides its eDocs Services through the ESS-Databridge™ eDocs Exchange, which it owns and operates
Company ESS is a neutral shipping eDocs Service Provider. The company was established in 2003. Employ close to 50 people globally, including Athens, London, Mumbai, New York and Malta
Customers Our customers include 7 of the top 20 companies in the 2008 Fortune Global 500
DDG Our Users Association (the DDG) includes oil companies, traders, banks, ship agents, tanker operators and NGOs such as the World Customs Organization and UNCTAD
©2003-8 Electronic Shipping Solutions. All rights reserved. 6
RefineriesRefineries
Equity HoldersEquity Holders
Oil MajorsOil Majors
Oil TradersOil Traders
eDOCS USER NETWORK: CRUDE OIL
ShipownersShipowners
BanksBanks
Ship AgentsShip
Agents
Ship Managers
Ship Managers
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ESS-DATABRIDGE™ EXCHANGE
The Exchange establishes the rights and obligations that a trading party would have under the equivalent paper documentation
Processes (‘Best eDocs Practices’) built into the Exchange have been developed with users over the last 4 years
Legal Framework (DSUA) was developed with the assistance of key stakeholder groups over last 4 years
The Exchange is implemented to provide high availability
The Exchange supports B2B data interchange
ESS provides eDocs Services through the ESS-Databridge™, its shipping eDocs ExchangeESS provides eDocs Services through the ESS-Databridge™, its shipping eDocs Exchange
©2003-8 Electronic Shipping Solutions. All rights reserved. 8
eDOCS SERVICES EXAMPLE: CRUDE OIL
Terminal Services Terminal Services Carrier Services Carrier Services
Exchange Services Exchange ServicesFor Terminals and Refineries
Enable users to:
Draft or upload documents and review onlineSign / issue documents electronically
For ship operators and ship managers For Importers, Exporters, Traders, Banks and End Receivers
Enable users to:
Review and sign /issue documents onlineManage requests for amendments Accept production of eB/L and accomplish eB/L
Enable users to: Receive eB/Ls and accompanying eDocsEndorse to another Exchange userPresent to bank(s)Request amendments, if requiredProduce to carrier at discharge port to receive the goods
©2003-8 Electronic Shipping Solutions. All rights reserved. 9
LEGAL APPROVALS
©2003-8 Electronic Shipping Solutions. All rights reserved. 10
APPROVALS
Reviewed and approved by:
- IG representing all shipowners (obtained April 2007) – comprehensive review by US (Holland & Knight) and UK (Michael Collett) Counsel for IG
- IG are currently examining mutualising the incremental risks of using eB/Ls
- ITIC representing leading ship agents (obtained April 2007)
- LEAP representing oil majors, trading houses & banks (obtained Jan 2008)
Legal Workshops
- ESS has conducted Legal Workshops which have been attended by, inter alia, BP, STASCO, ExxonMobil, LEAP and the IG
ESS’ Users Agreement has been vetted by key stakeholders ESS’ Users Agreement has been vetted by key stakeholders
©2003-8 Electronic Shipping Solutions. All rights reserved. 11
BENEFITS
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Eliminates need to accept LOIs at discharge port – enabling shipowners to remain within their P&I cover
Improves transparency as all eB/Ls, even drafts, can be seen across the fleet
Enables faster turnaround at ports where paper documentation causes delay, due to faster creation, review, transmission and signing
Eliminates pain of managing amendments to documents
Allows for convergence of processes that are otherwise duplicated such as creating shipping documents and Customs/Government required information such as AMS manifests
CARRIER BENEFITS
Carriers can significantly reduce risk, improve visibility and improve operational efficiencies by adopting eDocsCarriers can significantly reduce risk, improve visibility and improve operational efficiencies by adopting eDocs
©2003-8 Electronic Shipping Solutions. All rights reserved. 13
ROLLOUT STATUS
©2003-8 Electronic Shipping Solutions. All rights reserved. 14
ROADMAP
Proof-of-Concept Pilots
Run with several oil majors
North Sea rollout
- Statoil offshore
- Teesside
- Hound Point
- Sullom Voe
- Sture
- Mongstad
Trade finance capability
Leading commodity trading houses
Leading banks
TodayGeographical expansion
Product expansion
2007-2008
1H 2009
2H 2009
©2003-8 Electronic Shipping Solutions. All rights reserved. 15
DEMO
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EVOLUTION
“The telephone is an interesting device
– I predict that one day every city will have one”
Mayor of Chicago, 1891
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Q&A
©2003-8 Electronic Shipping Solutions. All rights reserved. 18
ESS EMEA Office71-81 Whitfield StreetLondon W1T 4HGUnited KingdomTel: +44 (203) 102 6600Email: emea@essdocs.com
ESS Americas OfficeNew York, USA
ESS Asia Pacific OfficeWanchai, Hong Kong, China
©2003-8 Electronic Shipping Solutions. All rights reserved. 19
APPENDIX: WHY NOW
Compliance (SOX)Requirements
Homeland Security and eCustomsRequirements
Cost Savings through Outsourcing
Drive for OperationalEfficiencies
Drive to be more Green
Adoption of worldwideeSignature Acts & eUCP
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