presentation Thor Athena 22092010 auto

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THOR established 1994 Ships owned by P/F THOR: 1997 – M/V TÓRSVÍK 2001 – M/V THOR SUPPORTER 2002 – M/V THOR SERVER 2003 – M/V VESTURLAND 2004 – M/V THOR PIONEER 2004 – M/T THOR GOLIATH 2005 – M/V THOR SUPPLIER 2005 – M/V THOR PROVIDER 2005 – M/V TÚGVUSTEINUR 2006 – M/V THOR GUARDIAN 2006 – M/V THOR BEAMER 2006 – M/V THOR ASSISTER 2008 – M/V THOR ALPHA 2008 – M/V THOR OMEGA 2009 – M/V PHØNIX Ships operated by P/F Thor: 1998 – M/V NORTH STAR 2005 – M/V MARS CHASER Companies that P/F Thor own and operate P/F Ocean Group Faroes 2005 - M/V Athena P/F Thor Fisheries 2006 – M/V Poseidon 2006 – P/F OCJoensen M/V Norðheim M/V Varðborg 2009 - SP/F Ran M/V Ran Companies that P/F Thor own shares in: 2001- P/F Esvagt-THOR 2005 – Útferðir M/S NORÐLÝSIÐ 2010 - SP/F TYR SHIPPING Thor Management

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M/V TÓRSVÍK – 1997 Thor Offshore Services M/V LEITISTEINUR - 1998 M/V NORTH STAR - 1997 M/V THOR SUPPORTER - 2001 Sold

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Thor Offshore Services M/T THOR GOLIATH - 2004 M/V THOR PIONEER - 2004 M/V THOR SUPPLIER – 2005 M/V THOR SERVER - 2002 M/V FAROE CONNECTOR - 2001

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Thor Offshore Services M/V THOR GUARDIAN – 2006 M/V THOR ASSISTER – 2006 THOR ALPHA – Feb 2008 M/V THOR BEAMER – 2006 M/V THOR PROVIDER – 2005 THOR OMEGA – Oct 2008

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M/V TÚGVUSTEINUR – 2005 Crab Thor Fisheries M/V THOR - 1994 First offshore work was in August 1997 with THOR, our gillnetter,which is normally used for fishing Greenland halibut. Greenland Halibut Sold

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Thor Fisheries M/V VESTURLAND - 2003 Monkfish F/TR POSEIDON - 2006

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Ocean Group Faroes F/TR ATHENA – rebuilt in Guangzhou Huangpu Shipbuilding Company Limited in Guangzhou, China

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9 O.C. Joensen, 100% owned by Thor, where we produce scallops and whelks.

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THOR’S STRENGTHS Able to make quick decisions. Short distance between management and employees. Direct contact with several customers without brokers. ISO and ISM acceptance. Activities are spread around the world. Employees with good language skills. Employees with international experience. Thor’s Strengths

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Work areas involved in Fishing with gill nets Fishing with Factory trawlers Longline Guarding sub sea equipment Seismic Cable laying Diving work Pipe laying Bird counting Whale counting Sea bed research Standby drill platform Equipment to drill platforms Crew changes offshore Ship’s agency work Training vessel Towing vessel Work Areas

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Faroes Denmark U.K. Sweden Poland Norway Ireland Holland Germany Spain Belgium France Canary Islands Tunisia Egypt Chile Togo Sao Tomé Gabon Congo Namibia South Africa Argentina Malaysia Yemen Angola Cameroun Nigeria Iceland Ghana Iran Indonesia Saudi Arabia Qatar Turkey Oman Ivory Coast Gambia Senegal USA Mexico Falkland Islands Kuwait Singapore Brazil United Emirites India Mauritania French Guyanna Libya Mozambique Guinea Bissau Some of the countries we have worked in: Thor Offshore Services Countries we have worked in

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Thor Offshore Services Tal

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Thor Agency

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15 Thor Fisheries

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The fish runs freely from the trawl : 

19 The fish runs freely from the trawl

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20 Fish are put into RSW-refrigerated tanks

A freighter on its way to collect the fish : 

21 A freighter on its way to collect the fish

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Ocean Group Faroes Athena 4 July 2007 ATHENA caught fire

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Ocean Group Faroes

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Ocean Group Faroes Athena The shipyard Guangzhou Huangpu Shipbuilding Company Limited in Guangzhou, China

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Ocean Group Faroes Athena

Ocean Group Faroes : 

27 Ocean Group Faroes

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Ocean Group Faroes Athena

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29 Ocean Group Faroes Brand new interior - ATHENA

Ocean Group Faroes : 

30 Ocean Group Faroes

Ocean Group Faroes : 

31 Ocean Group Faroes Safety training and exercises - ATHENA On deck after rebuilding - ATHENA

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Ocean Group Faroes

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Ocean Group Faroes Handover ceremony

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Thor Offshore Services www.thor.fo

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35 Thor Offshore Services Offshore Fleet

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Thor’s Fleet

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Thor Offshore Services Thor Working towards 2 to 6 such ships within the next 2 to 3 years

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QHSE goals Thor Offshore Services ISO 14001 certification in 2010

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Thor Offshore Services QHSE goals OHSAS 18001 certification in 2009 OHSAS 18001 certification in 2010 Thor Offshore Services QHSE goals

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Main Office: P/F Thor Bryggjan 5 FO-420 Hósvík Faroe Islands Tel: +298 422503 Email: thor@thor.fo Hans Andrias Joensen Director, C.E.O. Tel: +298 585800 Gunnbjorn Joensen Managing Director Tel: +298 585801 Per Gulklett Marketing Director