Making investments by investing and operating through Ship Investment Werkendam B.V.

Ship Investment Werkendam B.V. is a dynamic organisation that, due to its knowledge and extensive network in the inland navigation sector, is capable of structuring attractive shipping funds that offer favourable investment opportunities in terms of return.
We act as a broker and bring shipping companies and investors together. We select shipping funds that offer attractive prospects for our investors.

A shipping industry limited partnership (CV) is a joint venture through which one or more ships are financed and operated. Participants in shipping funds share the profits generated by the operation and sale of marine vessels. Investing in marine vessels is dictated by the capital-intensive nature of investments in modern river and ocean-going vessels. Although specialised banks provide loans amounting to approximately 75%-80% of a vessel's value, the rest is paid for by shipping companies and investors. Shipping companies and investors are therefore linked to each other by means of shipping industry limited partnerships. As entrepreneurs, these parties share the profits and losses realised by the operation and sale of marine vessels.

For five years now, we have been the only active offerer of opportunities to invest in the inland navigation sector. In 2006 Ship Investment Werkendam B.V. also set up attractive shipping funds for ocean-going shipping that, partly for tax reasons, provide very favourable investment opportunities.
Since 2003 we have successfully issued the limited partnership capital of 12 river and ocean-going vessels. We have extensive experience with private investors and private limited companies.

Participants in shipping industry limited partnerships for ocean-going vessels can make use of a special tax facility known as the tonnage tax scheme. Under this scheme, the tax on profit achieved by means of an ocean-going vessel is kept to a minimum. A predetermined, limited profit amount is taxed rather than the actual profits generated by the operation and sale of marine vessels. In addition, the tonnage tax scheme makes it possible for interim fixed returns to be paid to the participants.

Newly built marine vessels are financed and operated in the shipping funds that we offer. Shipping funds make it possible for shipping companies to expand their fleets. For participants, these funds offer the opportunity to invest in inland navigation and ocean-going vessels. Interest in our shipping funds is considerable. Many investors use shipping funds to augment their respective investment portfolios or achieve greater spread.

Since 2003 the company has financend a fleet of 12 marine vessels with an investment value of approximately EUR 80 million. Through open and closed shipping industry limited partnerships, private and business investors participate in our shipping funds in the amount of approximately EUR 18.5 million.

Ship Investment Werkendam B.V. attaches importance to long-term and personal relationships with its participants in the shipping funds. We therefore conduct an ethical and transparent policy. With us, you know what you are investing in, since you are a participant in the operation of one or more modern marine vessels. Performance is made completely transparent

Three shipping funds in which Ship Investment Werkendam B.V. was involved have been brought to a successful conclusion. Following a number of years in operation, the marine vessels in question were sold, after which the shipping funds were wound up. The returns achieved by the wound up shipping funds were between 19.4% and 42.3%.

The table below specifies the details of the wound up limited partnerships

Marine vessel	Type	Forecast gross return	Realised gross return
Mts Unity	Double hull chemical tanker, dimensions 110 x 11.45 x 5.40 metres	12,6 %	19,4 %
Mts Currency	Double hull chemical tanker, dimensions 110 x 11.45 x 5.40 metres	10,2 %	42,3 %
Mts Connect	Double hull chemical tanker, dimensions 110 x 11.45 x 5.40 metres	10,2 %	22,7 %

The basic assumptions of all new shipping funds are checked against the data of shipping funds that have already been active for some time. Factors assessed include, among other things, the purchase price, expected returns, operating costs and the expected sale values of the marine vessels. A fund calculation is prepared using real data. If the outcome is satisfactory and our conditions have been met, a new shipping fund is set up. All new shipping funds are checked in advance by an independent auditor. A civil-law notary prepares the necessary limited partnership deeds and attends to the entry of participants.

You can take part in our funds with participating interests of EUR 50,000 and are not required to pay issue costs in addition to your participation amount.

Participating in a shipping industry limited partnership means investing in a capital good - in other words, in a valuable object. Although fluctuations can occur in the operation of a marine vessel and the residual value is also subject to fluctuation, the kind of extreme volatility that can occur in the case of equity investments will not occur with respect to an investment in a marine vessel. The underlying value guarantees relative stability.

Ship Investment Werkendam B.V. is currently structuring a number of shipping funds that offer favourable investment opportunities for investors. If you would like us to keep you informed about these projects, please let us know by sending the coupon below.

Yes, I am interested and would like to be kept informed about the possibilities.