TANKER MANAGEMENT CYPRUS - MANAGEMENT CHANGES - MORNING WORKSHOP

Cyprus, January 31, 2007

Our TankerOperator workshop in Cyprus on January 31st will tackle changing business environment for tanker operators due to new pressures from oil majors, and how to meet it.

- How TMSA is impacting tanker management

- Cost efficient improvements to quality management

- Could there be a better scheme than self assessment, as a means of ensuring continuous improvement

The workshop follows our series of 6 TMSA conferences in Oslo, Rotterdam, Athens (twice), Singapore and Hong Kong. It will be held parallel with Digital Ship Cyprus, with conference coffee breaks in the Digital Ship exhibition hall.

Registration is only GBP 195 / CYP 160, or free for employees of Cyprus shipping companies.

AGENDA

From 8.45 Welcome coffee - in Digital Ship exhibition area

Chairman: Dimitris Lyras, director, Lyras Shipping

Dimitris Lyras is director of of Lyras Shipping. He is on the Intertanko council and senior advisor to the board of Ulysses Systems. He is leading some of the world efforts to improve the image of the shipping industry and encourage a culture of continuous improvement. He is a qualified ship's engineer.

9.30 Words of introduction - Secretary General of the Cyprus Shipping Council, Mr. Thomas Kazakos

9.45 Effective performance indicator monitoring Marco Ahrens, marine manager, Interorient Navigation Looking at audit, SIRE, PSC, TMSA, unplanned downtime and near miss / incidents in detail, to determine areas needing attention and thereby allocate resources effectively

Marco Ahrens is marine manager, Interorient Navigation, which own/manages a mixed fleet of 52 vessels. He has been shore based since 2002. His last command for a North Sea dynamically positioned shuttle tanker, and he has held positions from ordinary seaman on cargo ships to master on VLCCs. He has also worked as a mooring master / superintendent in the US Gulf and US Eastern seaboard carrying out ship to ship operations, and a marine superintendent / mooring master off the Nigerian coast carrying out offloading operations from an FPSO. He graduated from Chalmers University of Technology in Gothenburg.

10.15 Graeme Ross, quality and safety manager, Hanseatic Shipping. Cost efficient methods to improve quality

Graeme Ross is quality and safety manager with Hanseatic Shipping, one of the world's largest shipmanagement companies, based in Cyprus. He was previously marine manager with Thome Shipmanagement in Singapore and before that with Exxon, where he was involved in some of the discussions which led to TMSA.

10.45 Discussion - chaired by Dimitris Lyras, with senior managers of Cyprus shipping companies. How we are approaching the tricky issues of TMSA - including change management, incident investigation, seafarer retention, measurement and analysis, continous improvement. Examples of how safety / commercial goal conflicts have been resolved

11.15 BREAK - In Digital Ship conference exhibition area

11.45 Overview of Bureau Veritas VeriSTAR for Machinery risk assessment system. Diane Ruf, head of VeriSTAR machinery department, Bureau Veritas.

Diane Ruf is in charge of the VeriSTAR Machinery operational team since 2001 in Bureau Veritas. VeriSTAR Machinery is a living concept using risk assessment techniques to evaluate ship's equipment behaviour along with operational and maintenance procedures, as well as audit techniques in order to follow up maintenance reports and defects and to tune procedures accordingly. This concept can be part of a classification process, but is also available as a consulting service. Bureau Veritas is one of the world's largest classification society, based in Paris. www.veristar.com

12.15 Discussion - chaired by Dimitris Lyras, with senior managers of Cyprus shipping companies. How does the industry ensure that it is driving the change, not being driven? What ultimate impacts could TMSA have on international confidence in the tanker industry, and could this lead to a reduction in seafarer criminalisation?

1.00 Lunch and close