ANNUAL REVIEW

YEAR 2020 EDITORIAL TABLE OF

Our product portfolio covers all THE BEGINNING OF A NEW YEAR AND A accommodation and catering areas, CONTENT including background works. Thereby, NEW ERA FOR OUR INDUSTRY our customers can outsource all interior areas to one single trusted turnkey provider. We have developed a new maintenance concept that release our customers from unnecessary hassle Looking at the prospects in the our customers with the acute problems ALMACO IN BRIEF beginning of the year, we were they were, and still are, facing. The and responsibility. In the beginning counting on a year of growth, both first step was to sit down together to of May, ALMACO launched a new product category, Health and Sanitation Our ID for the market and our company. work out new project plans and adapt Our products ALMACO had just opened a new office the scope of works, schedules, and solutions, to help our customers comply 4 in Germany and we had many large, delivery times to better correspond to to the new standards and regulations interesting projects under work and in the situation at hand. We were asked now being developed for the industry. the pipeline. But the whole world was to jump into a few projects last minute, During 2021 we will keep working on new innovations that meet both health in for a big surprise. We were rapidly where our help was needed. A few NEWS forced to recalibrate our plans, targets, projects were postponed or delayed, and sanitation, as well as environmental and short-term strategies. but I am proud to say that we were targets and regulations. Company News able to deliver more projects that we Milestones Last year was tough, to say the least, but originally thought possible. Many of our customers are looking 6 Marine & Offshore Activity in retrospect we can also conclude that into new business opportunities it presented us all with an opportunity As the new year begins, we are all and to support their development, to re-evaluate and reinvent ourselves. I hoping for smoother sailing ahead. ALMACO has been arranging customer- specific training webinars. Besides can honestly say that we have learned a Still, it’s clear that our industry will MARKET INSIGHT great deal during the past year. be struggling financially for a time to from helping and learning together, come. We are extending our turnkey it’s a way for us to stay tuned and in Ferries As the gravity of the pandemic hit us, scope to take on more responsibility, sync with the needs of our customers. Megayachts we quickly decided to sharpen all our allowing our customers to be scalable, Constant dialogue gives us a clearer 12 Offshore senses to become even more alert, work faster and with less resources tied picture of the future and we can see flexible and adaptive in order to help up. trends moving towards a preference for smaller vessels like megayachts, expedition vessels and smaller cruise ARTICLES ships. We also see a growing need for digital and automation solutions for Concepts & Visions project management, operation, and maintenance. ALMACO is focusing 18 heavily on developing our existing and new digital solutions to increase user- friendliness and partially automatize product life cycle management. ONGOING PROJECTS Generally speaking, our strategy is and Viking Glory has always been to stay close to our Vega customers to ensure our business is 22 Flotlog developing in the right direction. We Nobiskrug plan on taking our learnings and close- to-customer philosophy with us to the years to come, and make sure we keep DELIVERED PROJECTS improving and serving the best way possible. Carnival Elation Norweigian Spirit We are entering a new demanding era 27 in our industry, but with time we are certain we will all prosper again as long Editorial by Björn Stenwall President & CEO at ALMACO as we stay patient and resilient, keep working together and set our eyes on GOVERNANCE the horizon. Board of Directors 30 Management Team

2 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 3 ALMACO IN BRIEF OUR OFFERING STUNNING SURROUNDINGS AT SEA TURNKEY DELIVERY AND LIFECYCLE SERVICE OF ALL INTERIOR AREAS

Eat well, sleep well, relax and enjoy! Our purpose is to create stunning OUR PRODUCTS surroundings at sea that make passengers, crew and workers long back the second they leave.

As a full turnkey provider, we offer all hotel and interior living areas and lifecycle service solutions to owners and shipyards in the marine and offshore industries worldwide. We take pride in managing large-scale turnkey projects while making it look easy.

Our customers can lean back and leave the hassle to us. We offer total lifecycle support of the complete product line for newbuilding, PUBLIC PROVISION modernization, refurbishment, maintenance, equipment and spare parts CABINS AREAS GALLEYS STORES within each customer segment.

MOBILE CABIN SUPER REFRIGERATION 195 40+ 9 14 22 FACTORY STRUCTURES MACHINERY LAUNDRIES NUMBER OF PROJECT OFFICES NATIONALITIES YEARS IN THE EMPLOYEES LOCATIONS GLOBALLY IN OUR TEAM BUSINESS

PROJECT MANAGEMENT & CONSTRUCTION

NEWBUILD REFURBISHMENT MODERNIZATION

SERVICE & LIFECYCLE SUPPORT

EQUIPMENT & SPARE PARTS MAINTENANCE

4 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 5 COMPANY NEWS OFFICE IN NEW BOARD HAMBURG MEMBER

On the second of March 2020 Thomas Lundberg has ALMACO’s new German office joined the company’s Board opened its doors to the public. of Directors effective as of September 24th, 2020. Thomas “Establishing a subsidiary in Germany brings strong experience and allows us to serve our German knowledge in international customers locally, faster and in their own language”, says Frank Röder, Sales business development and Manager in Germany. management.

“I think ALMACO has the ingredients that makes for a successful and Photo by Genano stable company. The strong focus on reliability and quality combined with ALMACO AND ALMACO an experimental and pioneer mindset makes the people at ALMACO set very HBM FOUND A EXTENDS FOCUS high standards for everything they do. The company is packed with highly JOINT VENTURE TO SMALLER skilled professionals that are well- known within their field. I am looking SEGMENTS forward to digging in and getting to In December 2020 ALMACO know the company and its people and HBM decided to take a further”, says Thomas. 20 year long successful co- ALMACO puts greater focus on operation even further by smaller vessel segments such establishing a joint venture as ferrys, expedition vessels, in Shanghai, China. megayachts and navy vessels.

HEALTH AND The target of the joint venture is to Although about 50 % of ALMACO’s achieve better project and quality business traditionally has come from SANITATION control in projects executed at building cruise ships, we have always Chinese shipyards. ALMACO’s had other segments where we operate Chairman of the Board, Vilhelm as well. With the current market ALMACO launches full turnkey Roberts, says, “We have been situation, we have identified the Health & Sanitary Solutions working with HBM for a long time need to focus more on these smaller to support Ship Owners and and the feelings of friendship and segments, where we already have the trust is mutual. From a practical knowledge needed but that has not help the Maritime Industry in point for view, we continue our been our primary focus. promoting a safe and healthy great partnership as before, but onboard environment. As a part the joint venture gives us better Smaller vessels, like megayachts, of this goal ALMACO signed insight and eases the bureaucratic river cruise vessels, RoPax ferries and burden for both companies. We expedition vessels – segments that we partnership agreements with are looking forward to continuing expect to grow the upcoming years Steripower and Genano. our great co-operation with HBM – have traditionally made up around in the name of the new joint 30 % of our newbuild projects. We are Steripower is a famous hand sanitizer venture, ALMACO-HBM Marine.“ now expecting this segment to grow producer who offers the fastest approximately 10 % the upcoming dispensers on the market. years.

Genano is an inventor of revolutionary ALMACO also has long experience air decontamination technology that of working with offshore and navy not only helps fight Covid-19, but projects and these projects have also removes other harmful particles made up roughly around 20 % of our such as microbes, fungus, pollen and newbuild projects, depending on pollution. the year. We are also expecting this Photo by VIking Line segment to become a bigger pie slice.

6 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 7 YEAR 2020

OUR MILESTONES

JAN ALMACO and Girbau MAR ALMACO completes JUL ALMACO and Steripower fleet supply vessels of the announce partnership. “Jacques Chevallier” class as a څ provision store and refrigeration څ .announce partnership څ machinery delivery for Celebrity visual turnkey project including Apex Hull K34 at Chantiers de supply and installation. JAN ALMACO opens a new office SEP Thomas Lundberg is elected l’Atlantique. to ALMACO Group’s Board of څ .in Hamburg, Germany څ Directors DEC ALMACO and Genano announce partnership to څ APR ALMACO completes FEB ALMACO completes staterooms for Carnival Elation. provide the marine and څ catering modernization project SEP MEYER WERFT and ALMACO څ offshore industries with air complete catering project څ for Norwegian Cruise Line’s decontamination technology Norwegian Spirit in Marseille. MAY ALMACO launches new for Saga Cruise’s The Spirit of that not only helps fight Covid-19, Health and Sanitation product Adventure څ but also removes other harmful category to help its marine and FEB MEYER WERFT Papenburg particles such as microbes, offshore customers overcome the .orders galleys and provision OCT ALMACO completes fungus, pollen and pollution څ pandemic and implement future- provision store project for P&O څ stores for NB719 & NB720 of proof solutions. Silversea Iona at Meyer Werft. DEC ALMACO and HBM decided to take a 20 year long successful څ JUN Helsinki Shipyard chose FEB ALMACO signs a contract to NOV Chantiers de L’Atlantique co-operation even further by ALMACO to design, build and څ awarded ALMACO the contract establishing a joint venture in څ outfit a 100m+ superyacht project څ deliver cabins and crew public at Nobiskrug. to deliver cold stores, galleys, and Shanghai, China. areas for two luxury expedition laundry areas for the FLOTLOG vessels owned by Swan Hellenic.

8 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 9 YEAR 2020

MARINE & OFFSHORE ACTIVITY

2020 CHANTIERS DAVIE, CANADA MSC 2024 2. Ice Breaker - Galley and Provision Store design; W34 - Galley design, material supply, and Equipment delivery; Supervision on site. installation of Galley equipment. Also design, material supply, and installation of Laundry areas at AIDA CRUISES Chantiers de l’Atlantique. CELEBRITY CRUISES SILVERSEA AIDAnova NB 709 - 2600 m2 of provisions stores Celebrity Edge K34 - Provision Stores and DISNEY and FTC (Fast Thawing Chambers). First LNG- NB720 - Galleys and provision stores at Meyer Refrigeration Machinery at Chantiers de powered large cruise vessel at Meyer Werft. Hull NB705 - Refrigeration machinery at Meyer Werft. l’Atlantique. Werft. NORWEGIAN CRUISE LINE COSTA CRUISES NORWEGIAN CRUISE LINES Norwegian Spirit - Two galleys (400m2) and Bistro & Hull NB1395 - Galley equipment at Meyer Turku. Leonardo Class NB 6300 - Refrigeration Machinery Café modernization at Marseilles. 2023 at Fincantieri. VIKING LINE CARNIVAL CRUISE LINES ROYAL CARIBBEAN CRUISES LTD Viking Glory - Visual turnkey installation and Carnival Elation - Modernization of 34 passenger delivery of all cabins, crew public area, galleys, and ICON NB1401 - Provision Refrigeration Plant and Ice cabins and corridors at Freeport. provision stores. Some background works included. P&O CRUISES Rink cooling system at Meyer Turku. At Xiamen Shipyard. ROYAL CARIBBEAN CRUISES LTD NB S716 - Provision Stores Delivery at Meyer Werft. CARNIVAL CRUISE LINE SWAN HELLENIC Freedom of the Seas - Fun Showers at Pool deck. ROYAL CARIBBEAN CRUISES LTD 2. Vessel Hull NB1509 - Galleys and pantries Vega 1 - Crew and passenger cabins, crew public equipment with visual turnkey installation P&O CRUISES areas at Helsinki Shipyard. ICON NB1400 - Provision Refrigeration Plant and Provision Stores with visual turnkey installation at Shanghai Waigaogiao Shipbuilding & Co Ltd. NB710 - Provision Stores at Meyer Werft. Ice Rink cooling system at Meyer Turku.

SAGA CRUISES 2022 FLOTLOG TUI CRUISES NB6312 - Refrigeration machinery at Fincantieri Saga Olympic NB 715 - Galley equipment with C35 - Galley, provision stores and laundry at visual turnkey installation. Scope of work includes Chantiers de l’Atlantique. galleys and pantries at Meyer Turku. SILVERSEA CELEBRITY CRUISES 2025 CHANTIERS DAVIE, CANADA NB719 - Galleys and provision stores at Meyer Werft Celebrity Edge L34 - Provision Stores and 1. Ice Breaker - Galley and Provision Store design; Refrigeration Machinery at Chantiers de Equipment delivery; Supervision on site. NORWEGIAN CRUISE LINES l’Atlantique. Leonardo Class NB 6299 - Refrigeration Machinery NORWEGIAN CRUISE LINES MSC CRUISES NOBISKRUG at Fincantieri. Hull H34 - Provision Stores and Waiter Station at Leonardo Class NB 6301 - Refrigeration Machinery Galleys, visual turnkey crew and passenger cabins Chantiers de l’Atlantique. CARNIVAL CRUISE LINE at Fincantieri. and crew public areas as well as provision stores and laundry at Nobiskrug for superyacht project. 1. Vessel Hull NB1508 - Galleys and pantries DISNEY equipment with visual turnkey installation 2021 STAR CRUISES Provision Stores with visual turnkey installation at Hull NB705 - Refrigeration machinery at Meyer Shanghai Waigaogiao Shipbuilding & Co Ltd. Werft Global Class 1 - Installation of almost 1,000 crew and passenger cabins. Various crew public areas MSC TUI CRUISES and staircases. VTK on Global Class wheelhouse. Wheelhouse to be show type of wheelhouse for V34 - Provision Stores with visual turnkey NB6313 - Refrigeration machinery at Fincantieri ROYAL CARIBBEAN CRUISES LTD passengers to enter and visit. Total background and installation and Waiter Station at Chantiers de interior outfitting areas over 40,000 m2 (131,000 sq. Quantum 5 - Over 2,000 m2 of Provision Stores at l´Atlantique. FLOTLOG feet) at MV Werften. Meyer Werft. RCCL, EDGE CLASS D35 - Galley, provision stores and laundry at SWAN HELLENIC Chantiers de l’Atlantique. CRYSTAL CRUISE LINES M34 Provision Stores with visual turnkey installation Vega 2 - Crew and passenger cabins, crew public Crystal Endeavor - Steel-to-steel outfitting of 105 and refrigeration machinery at Chantiers de MSC areas at Helsinki Shipyard. l´Atlantique. crew cabins, crew mess room and recreation areas, X34 - Galley design, material supply, and installation and luxury changing rooms at MV Werften. NORWEGIAN CRUISE LINES DISNEY of Galley equipment. Also, design, material supply, and installation of Laundry areas at Chantiers de ROYAL CARIBBEAN INTERNATIONAL Leonardo Class NB 6298 - Refrigeration Machinery Hull NB718 - Refrigeration machinery at Meyer l’Atlantique. at Fincantieri. C34 Oasis 5 - Provision Stores at Chantiers de Werft l’Atlantique.

10 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 11 MARKET INSIGHT ROPAX FERRIES ̶ THE MOTORWAYS OF THE SEA

Blog post by Erik Schobesberger, Vice President Modernization, ALMACO

What do passengers expect of must be durable, easy on the eye and RoPax Ferries? Has the demand cost-effective. The latest pandemic has also shown that ease of cleaning and on quality risen? flexibility of the interior arrangements are becoming crucial. With new yards The RoPax ferry segment is a very entering the RoPax newbuilding diverse category of vessels. It ranges market, the need for experienced, from cruise ferries with large public reliable turnkey contractors has never areas packed with amenities, to been greater. vessels built strictly for the purpose of transporting people and vehicles. There is something that they all have ALMACO is a leader providing cost- in common though; they are the efficient, customized modular motorways of the sea, a vital part of the accommodation and catering solutions transportation infrastructure and often to RoPax operators and shipyards, indispensable to the communities they constantly keeping cost and reliable serve. delivery times as a priority. Our unique capabilities ensure that we can deliver projects from smaller visual turnkey catering deliveries to entire fully outfitted superstructure blocks. This “RoPax and ferries“ need allows us to provide just the right cost-effective turnkey package to every customer, including solutions that are practical yards in locations where local outfitting and durable while looking would be impracticable or unprofitable. great.” Many companies can provide standalone equipment and outfitting deliveries, but few have as much Passengers expect modern, inviting experience as ALMACO in performing public areas, comfortable cabins with large full turnkey deliveries starting low noise levels as well as quality dining from initial design to commissioning. options. Canteens serving industrial Delivering on-budget with the quality food and tired accommodation areas level that our customers have come to will no longer do. The journey must be a expect from us anywhere in the world is pleasant experience for the passengers. what we are all about. All equipment and materials onboard

12 ALMACO ANNUAL REVIEW 2020 www.almaco.cc/category/blog ALMACO ANNUAL REVIEW 2020 13 Megayachts have a long history will be a new reason for megayachts to of tailor-made, special-made find ways to stay cost-efficient while MARKET INSIGHT maintaining luxury class. and unique “to the Himalaya and back” luxury solutions. The HOW DO YOU MANAGE TO GET ARE MEGAYACHT OWNERS question is, will this continue, or COST-EFFICIENT, ON-SCHEDULE SHIFTING THEIR FOCUS TO will the current market situation DESIGN AND PRODUCTION make megayacht owners and WITHOUT COMPROMISING THE STREAMLINED DESIGN AND builders consider streamlining SENSATION OF LUXURY? some parts of the design and In and out of the yard like Swiss Article by Frank PRODUCTION? production in order to achieve Röder, Area Sales clockwork on a waterslide, with a Manager Germany at cost-efficiency? spectacular end-result – I have two ALMACO pieces of advice for achieving that. Megayacht market experts have First and probably the most important, expressed a worry that the industry is include experts in the pre-design phase pricing itself out of its own market and as soon as possible, before making any some warn that the clients will find fixed layout and design decisions. This other things to invest in if the yachts will save time, money and additional become too expensive. Personally, I gray hairs. In some areas of the vessel think this worry is legit. Megayachts this is more crucial than in others, like are and will remain a luxury product, in the galley and provision store areas. A meaning cheap finish and poor quality skilled planner will assure functionality, are not an option for these exclusive space-optimization, energy-saving masterpieces. But still, the market is and cost-efficiency without sacrificing changing and there might be a limit any aspects of a qualitative end-result. as to what exquisite taste and custom- Regulations for charter megayachts made solutions can cost. are especially demanding. Just to name an example, dirty dishes cannot We can roughly divide the megayacht be transported in the same elevator market into three categories; privately as clean dishes, according to USPHS owned megayachts reserved for family, standards. These are things that need to friends and perhaps occasional leasing, be considered already in the pre-design big megayacht cruise charters and stage. expedition vessels. When it comes to privately owned megayachts that My second advice is to centralize as are mainly utilized by the owners much of the project management as themselves, handcrafted luxury finish you can to a trusted turnkey supplier with the finest quality and materials that is experienced enough to have will prevail in the interior. That said, experts for all crucial areas of the it could make sense to incorporate vessel. A turnkey supplier whose core some of the processes of the cruise competence is high-level full turnkey industry to minimize risks and costs project management, who is well- as well as maximize functionality and connected with many suppliers and performance of these high-performing sub-contractors, and that can assure vessels. good solutions, deals and timetables. A good project manager also makes sure When it comes to commercial communication flows and all parties megayachts, such as cruise charters and always have a real-time overview of the expedition vessels, it seems the trend project. and current market situation is moving towards a more streamlined design and So, to sum it up, maintaining high- production favoring environmental- level project management, design and friendly and cost-optimized solutions, engineering that takes all phases and while still maintaining superior quality costs into careful consideration early and the sensation of luxury. As a result in the project without compromising of the pandemic, the major global quality and time schedules – that, cruise lines are shifting their focus from ladies and gentlemen, is what creates massive cruise ships to smaller vessels. a successful and profitable end-result. With more smaller vessels on the When this is combined with the waters, commercial megayachts might high-end luxury cruise vessel finish find themselves in a situation where megayacht builders already master to they are suddenly competing with perfection, costs can be reduced, and the major cruise lines for charter and profit increased while maintaining the expedition customers. This means there megayacht label of supreme luxury.

14 ALMACO ANNUAL REVIEW 2020 www.almaco.cc/category/blog ALMACO ANNUAL REVIEW 2020 15 MARKET INSIGHT is another option. External specialist installation and maintenance vessels OFFSHORE IS DEVELOPING providers or contractors can help to are needed to secure the limited yard fill the void and develop a new project space available. This is a key priority as A NEW WAY OF WORKING execution strategy. there are currently no Wind Turbine Installation Vessels (WTIV’s) made in the Blog Post by Justin Hoffman, Vice President Offshore Additionally, in a time of slowed project US. Business Developement, ALMACO development and cost reductions, the greatest challenge will be when activity MOST OIL & GAS does ramp up. Will there be enough resources to maintain the same prices PROJECTS ON HOLD ARE and delivery terms promised during the BEING RESUMED IN 2021 As we enter 2021, companies Whether we are talking about slow times? are again seeking to make full standardization or a mere Last year we saw a surging interest simplification, a collaborative investments in oil and gas, as HIGHER COMFORT in renewables in the US as well as partnership model with dialogue and internationally. This interest now seems well as renewable alternatives. compromises is key for success. REQUIREMENTS to have passed the tipping point at The offshore market is learning which it will continue to move forward, The offshore oil & gas industry seems despite the oil & gas projects coming how to cope with downsizing HIGH RETENTION CALLS to be trending towards reduced back to life. and adopting standardization FOR OUTSOURCING headcount. Digital twins, unmanned facilities manned from shore, and fully and outsourcing of expertise to As we enter 2021, the oil & gas projects autonomous functions help enable achieve scalability. Due to the compounding impact of that were put on hold or kept alive by this development, but the speed of multiple setbacks in the industry, means of a paced pre-FEED study, are adoption will be determined by the size companies are losing talented being considered again and prioritized STANDARDIZATION and appetite of the end user. individuals, some never to return. for their next development phase in Q1/ TAKES DIALOGUE AND Handling the same workload with less Q2. resources naturally puts additional The offshore windfarm market has a COMPROMISES preference for single occupancy cabins pressure on remaining personnel. This With the vaccine rollout now in effect that offer better amenities for longer The FPSO projects are getting presents an opportunity for companies and with the help of new flexible cost- durations offshore. The “comfort class” larger and more complex. This has that can help ease the burden by efficient strategies, the industry is well requirements of these cabins align very encouraged some FPSO players to offering greater project efficiencies positioned to continue the work put on well with ALMACO’s capabilities and adopt standardization as a tool for through better execution strategies. hold. We are supporting our clients with experience. simplifying processes all the way from the capabilities and experience to bring design and construction to installation Staff retention brings with it challenges, quality design, comfort and safety to The market is expecting an increase in and start-up. Standardization provides but also the opportunity to look at projects that are looking for a fresh way US windfarm constructions. One reason the possibility to create a menu of the “old way of doing things” with to achieve a better result. for this is a new fixed-rate investment ready-made production options. fresh eyes. With companies resistant tax credit (ITC) for offshore wind farms Resources are allocated to project to taking on additional headcount for agreed by Congress in December. management instead of designing and fear of having to go through the cycle Orders for Jones Act compliant engineering from scratch each time, of redundancy or layoff again, there meaning time to first oil is shortened considerably.

16 ALMACO ANNUAL REVIEW 2020 www.almaco.cc/category/blog ALMACO ANNUAL REVIEW 2020 17 CONCEPTS & VISIONS up capacity quickly, which is especially EASY AND SUCCESSFUL PROJECT increase capacity, reduce necessary important in times of uncertainty. MANAGEMENT knowhow of accommodation areas and take benefit of much more IS REMOTE With the Prefabricated Superstructure For a company like ALMACO, projects aggressive construction schedules. model, the full superstructure is like these are everyday work and The model might not be beneficial PREFABRICATION OF constructed separately from the hull often easier than traditional turnkey for the shipyards who have all aspects in a different location. When ready, projects, where schedule constraints of subcontracting fully developed, SUPERSTRUCTURES the superstructure is delivered to the are out of our hands and depend on but for shipyards entering new vessel shipyard fully outfitted, including other stakeholders. Centralizing the segments and projects with high cost- BECOMING THE steel and all systems inside, and responsibility of the accommodation efficiency, the model fits like a glove. ready to be integrated with the hull. areas, all the way from design and It helps smaller and medium-sized PREFERRED As the superstructure construction is engineering to construction, to one shipyards convince owners that they separated from the rest of the ship, single party makes it easier to control can handle big projects on time, with TURNKEY MODEL? delays in surrounding areas and phases costs, schedules and the project excellent finish and within the budget. does not affect the schedule of the overall. The shipyard can focus on its superstructure. Huge schedule benefits core strengths consisting of the most If you are a shipyard considering this can be achieved by constructing the demanding components like hull model, my best recommendation is hull and superstructure simultaneously. construction, main propulsion and to turn to a reliable and experienced vessel automation. turnkey provider very early on in By rethinking the split of work and the process to evaluate the project responsibility, owners and yards can ALMACO is one of the few companies in question. We see a trend moving minimize risks and increase project in the world that has the capability towards partnerships with open efficiency substantially. But is this true to provide this model globally. Even dialogue on how to build the vessels for everyone and every project? delivery and hook up can be arranged to maximize efficiency rather than by ALMACO for the integration of handing over ready-made plans and superstructure to the hull. drawings. The key lies in involving WHAT TO CONSIDER BEFORE the turnkey provider early enough SELECTING THE REMOTE and taking full advantage of their experience from the very beginning. PREFABRICATION MODEL SUMMING IT UP

Turnkey models are usually chosen to The prefabricated superstructure model gives the shipyard the opportunity to Blog post by Jussi Laimi, VP Sales of best suit the shipyard’s partner network Newbuild Accommodation at ALMACO and facilities. The more resources and facilities are available and the broader the network of partners and suppliers, the less sense it makes to use the Prefabricated Superstructure model. Increasingly more marine and This can apply to the three to five offshore yards and owners largest shipyards in the world, but for are turning to new concepts most shipyards resources and space to increase efficiency in usage need to be optimized. Space and work force aren’t the only resources newbuild projects by extending to consider. If the schedule is tight, the turnkey scope beyond prefabrication is the safest choice. “full turnkey”. We are talking about full prefabrication of Fully outfitted superstructure for superstructures at a remote transportation to the destination The Prefabricated Superstructure model location prior to delivery to the is most suitable for ferries and smaller yard – it’s the “Prefabricated passenger vessels like expedition Superstructure model”. So, what vessels, but it is also applicable for are the perks with this model? medium-sized cruise vessels. In these vessels the steel structure seldom requires big changes that prevent To put it simply, the higher the degree delivery of the superstructure as a fully of turnkey, the more projects a yard separate construction. Other factors, can handle simultaneously with less such as the number of simultaneous internal resources, costs and risks. projects at the shipyard, as well as the The Prefabricated Superstructure overall market situation and order model enables the shipyard to scale backlog also affect what model to choose.

18 ALMACO ANNUAL REVIEW 2020 www.almaco.cc/category/blog ALMACO ANNUAL REVIEW 2020 19 CONCEPTS & VISIONS LIFECYCLE CONCEPTS THAT REDUCE COSTS

The current market situation The hotel, especially catering, areas is working as a catalyst for onboard are an ecosystem of which decision makers still have very little the rampage of new business facts to base their decisions on. models in the marine industry. One of these models is Digital service tools can be used for digitalization and outsourcing planning future projects’ layouts of lifecycle services to save costs and maintaining equipment more efficiently. However, this means and minimize risks. It is not a installing hardware for data collection new model for marine per se, is only the beginning. Processes for but it is being adopted in new analysing the data and turning it into areas, such as hotel and crew actionable knowledge available to all users, both onboard and ashore and for areas. users and managers, is also crucial.

DIGITAL TOOLS BRING OUTSOURCING AND MEASURABILITY “SERVITIZATION”

“If you can’t measure it, you can’t Scarce resources and extremely tight improve it.”, said Peter Drucker. Today’s budgets have caused operational digitalization tools give access to real- optimization to become front and time data, which provides the possibility centre for owners and operators. to improve efficiency and save costs. Outsourcing service tasks, such With the help of real-time data, decision as procurement, supply chain and makers get deep intel about complex maintenance, is one way to minimize systems and operation inefficiencies risks and cut down on fixed costs. Left Hervé Touzard Vice President, Spares at ALMACO Service Division that can be avoided. Right Nicolas Lesbats, Vice President, Maintenance at ALMACO Service Division

By grouping lifecycle services into interested in sharing the burden three groups, simple repetitive tasks, of lifecycle management with specialist tasks and strategical tasks, specialized companies that can owners and operators can build a tailor- bundle volumes and various brands made lifecycle plan that suits their together. specific organisation. They can reinforce their own inhouse capabilities for the THE NEW WAY commodities of strategical importance and outsourcing tasks that are simple TO DO LIFECYCLE and repetitive and tasks that require MANAGEMENT external specialists. Combining digitalization with Due to the recent economic downturn, outsourcing of certain lifecycle tasks, many manufacturers are leaning more offers the possibility to discover towards creating “servitization” models, new and more cost-efficient ways meaning a stronger focus on producing to operate hotel areas. In a world durable and easy-to-serve equipment, where “nice to have projects” have while outsourcing maintenance and disappeared, it becomes inevitable replacement to preferred partners that new business models will specialized in marine lifecycle services. emerge and become the “must have” projects of tomorrow. Both sides of the chain, meaning owners and manufacturers, are

20 ALMACO ANNUAL REVIEW 2020 www.almaco.cc/category/blog ALMACO ANNUAL REVIEW 2020 21 ONGOING PROJECTS The project team on the glorious Viking Glory was able to continue works despite the global pandemic. Viking Glory is expected to board its first VIKING LINE GLORY passengers in the beginning of 2022.

In the end of 2018, ALMACO secured the shipyard was not closed for very long order to build 1121 passenger and crew and we were able to think on our feet cabins plus all the galleys, bars, pantries to solve the challenges the pandemic and provision stores, including cold brought on. All the modular cabins rooms, freezers and walk-ins, for Viking have been produced and lifted onboard Line’s newbuild Viking Glory at Xiamen and we are now doing the final Shipbuilding Industry Co., Ltd. (XSI) installations.” shipyard in China. Vincent Querard, ALMACO’s Project The construction phase was initialized Manager in charge of the catering in April 2019. Everything was going areas, says “I would say we are working according to plans and the construction as normally now, although rigid health team felt confident about finishing and sanitations protocols are in place. the project on schedule. But then the The foundations on the upper decks are rumors of a viscous virus began to complete and the equipment has been spread. loaded. On the lower decks, we even installed the equipment and are closing ALMACO’s Accommodation Project the wall.” Manager at the site, Gilles Martin says, “As we started to grasp the severity of The shipyard is expecting to deliver the the pandemic, I must confess I got a ship to the owner in the end of 2021 and little bit worried. There was no telling the ship will sail on the Turku–Åland– how and for how long the pandemic Stockholm route. would affect the project. Luckily, the Photos by Viking Line

22 ALMACO ANNUAL REVIEW 2020 www.vikingline.fi www.xsi.com.cn ALMACO ANNUAL REVIEW 2020 23 ONGOING PROJECTS VEGA EXPEDITION VESSELS

ALMACO was awarded the task passenger and crew cabins, as well as a true pleasure to be part of this unique to provide the two vessels of the crew public areas. project and to get to work with Helsinki Shipyard and the other stakeholders in “Vega project” with high-class MS Minerva Oceanview cabin this project. We are looking forward to crew and passenger cabins. The 113-meter-long vessels will be starting the actual work at the shipyard The vessels, NB 516 (SH Minerva) cruising in the Arctic and Antarctic and to get this fast-paced project and NB 517, are built at Helsinki waters during the winter seasons and successfully delivered to the owner and Shipyard during 2020-2022, and in tropical waters during the spring its customers. and fall seasons. The vessels will offer they are owned and operated by their customers the latest polar ice- ALMACO is honored to support Helsinki Swan Hellenic. class technology combined with stylish Shipyard in this project. Helsinki sophisticated interiors, a style the Swan Shipyard’s excellent construction skills Hellenic calls ‘Scandi-luxe’ Chic. The combined with ALMACO’s extensive Esko Ryyppö , Project Manager at ALMACO The “Vega project”, for which the cabins are well-planned and spacious accommodation experience is a production start was in April 2020 with large bathrooms and they allow recipe for a successful project with a at Helsinki Shipyard Inc. in Finland, comfortable in-room dining with a spectacular end-result. consists of the construction and spectacular view. commissioning of two 152-passenger luxury expedition vessels. ALMACO was Esko Ryyppö, Project Manager in charge tasked with designing, procurement of the Vega project at ALMACO, says “It’s and construction of all of the ships’

24 ALMACO ANNUAL REVIEW 2020 www.helsinkishipyard.fi www.swanhellenic.com ALMACO ANNUAL REVIEW 2020 25 ONGOING PROJECT NOBISKRUG SUPERYACHT

ALMACO was awarded engineering. ALMACO is proud to be the outfitting contract on contracted for the delivery and interior installation of the yacht and started the Nobiskrug’s latest 100m+ design work for the project in March superyacht project. 2020.

The German shipyard is renowned for “We are very happy to have been building innovative, fully custom yachts honoured with this project and we at its modern facilities in Rendsburg, are looking forward to getting started Germany. Known under new build with the outfitting of this unique number 796, the project “Phoenix” superyacht,” comments Björn Stenwall, promises to feature the latest advances ALMACO CEO & President. in smart design and innovative

ONGOING PROJECTS 2020

FLOTLOG

In September 2020, Chantiers de Chantiers De l’Atlantique contracted L’Atlantique awarded ALMACO ALMACO to supply and install provision stores, galleys, and laundry solutions the contract to deliver cold for all four hulls, resulting in an area of stores, galleys, and laundry 1037 m2. Joseph Kerebel, VP for Special areas for the FLOTLOG fleet Catering Projects at ALMACO, says “We supply vessels of the “Jacques are very honored to have been chosen Chevallier” class as a visual as the turnkey provider for this project by Chantiers De l’Atlantique. We have turnkey project including supply a long history of completing successful and installation. projects together and I have no doubt this project will be a success as well. The FLOTLOG project, managed This is the first time ALMACO provides by OCCAR (Organization for Joint navy vessels with laundry solutions, Armament Co-operation) on behalf so we are especially thrilled to get this of the French Armament General opportunity.” Directorate (DGA), consists of the newbuilding of four fleet supply vessels The four 194 meter long support ships for the French Navy. The construction will be delivered between 2022 and has been initiated in May 2020 at the 2029 to the French Navy. shipyard of Chantiers De l’Atlantique, starting with the BRF (Batiment Ravitailleur de Forces) “Jacques Chevallier”.

26 ALMACO ANNUAL REVIEW 2020 www.nobiskrug.com www.chantiers-atlantique.com ALMACO ANNUAL REVIEW 2020 27 DELIVERED PROJECTS 2020 CARNIVAL ELATION

The ability to adapt in the onboard, issues with receiving materials Marine Industry to frequently from vendors due to air freight restrictions associated with COVID-19 changing environments is rules and limited airline flights for one of the reasons customers employees to return home. choose to partner with ALMACO. Whether it is inclement ALMACO Project Manager, Tommi DELIVERED PROJECTS 2020 weather conditions or or today’s Virta and the team of 125 individuals worked extremely hard to overcome challenging and unprecedented every obstacle. The team was able to NORWEGIAN SPIRIT environment, these obstacles complete the project on time and the did not alter the level of customer was extremely pleased with professionalism from employees the quality of work considering the circumstances. The last phase was or diminish quality of the final getting the workers home and Carnival product. ​ stepped up to provide rooms, meals and assisted with return flights.​ The Carnival Elation work scope consisted of 30 full turnkey outfitted Thanks to our Global supplier Network After a 43-day dry dock in was able to carry out complex work staterooms located on deck 9 during and Project Management team we Marseille, France the Norwegian like this simultaneously thanks to vast project management experience and a a drydock at the Grand Bahamas on were able to supply this complex Spirit sailed away with 14 new March 2-31, 2020 as a part of Carnival long history in the field. turnkey project and reinforce our catering venues. This included Cruise Line’s “Fun Ship 2.0 Ship relationship with Carnival Cruise Line’s Enhancement Program.” During the 29- appreciation of ALMACO’s commitment newly updated staterooms The work started on January 1st and day refurbishment the ALMACO crew to excellence. and redesigned hull livery. concluded February 13th, 2020. The endured several challenges including ALMACO provided a full turnkey project took place in France at Chantier 25+ knot winds in bringing materials Naval de Marseille, a shipyard that can solution as well as delivered and accommodate the new generation installed two galleys consisting of mega-ships. The project consisted of a bar and service buffet line. of 43 dry dock days, with more than 25 companies and over 3,650 people Norwegian Cruise Lines (NCL) and onboard performing work. ALMACO have a long-term partnership when it comes to newbuild and During the preparation phase, modernization projects. The mutual ALMACO’s Design team and Project trust of our experience and NCL’s Manager supported NCL by offering needs are the underlying reasons to optimal and cost-efficient technical why ALMACO was awarded the project. solutions. Throughout the work, Project Refurbishment of most important areas Manager and Supervision Teams on the Spirit included the local galley, worked in close collaboration with the bar on deck seven, Garden café galley classification society DNV, designer and service buffet line on deck twelve. FORESHIP and shipowner. This ensures Total work surface area of the galleys high quality that meets ALMACO’s and bar areas were over 400 m2 (4,356 standards as well as DNV and NCL Square Feet) plus ALMACO delivered recommendations. and installed 850+ items. “The final result was a huge success, The scope of work was a full turnkey and it was a great pleasure and pride solution, from planning the entire for ALMACO to be part of NCL Spirit’s project, demolition, commissioning, refurbish project.” – Baptiste Guillou, installation of the background, Project Manager at ALMACO. insulation, networks, tiling, paneling and arranging all equipment. ALMACO www.grandbahamashipyard.com www.carnival.com

28 ALMACO ANNUAL REVIEW 2020 www.ncl.com www.cndm.fr ALMACO ANNUAL REVIEW 2020 29 ALMACO GOVERNANCE ALMACO GOVERNANCE BOARD OF DIRECTORS MANAGEMENT TEAM

VILHELM ROBERTS ULF HEDBERG RAINER AALTO BJÖRN STENWALL GUILLAUME FAYSSE JEAN-PIERRE LEPAGE

EXECUTIVE CHAIRMAN SINCE 2018 EXECUTIVE VICE CHAIRMAN SINCE 2018 BOARD MEMBER SINCE 2004 PRESIDENT & CEO SENIOR VICE PRESIDENT & CFO PRESIDENT, SERVICE DIVISION BOARD MEMBER SINCE 2005 EXECUTIVE CHAIRMAN 2005̶2017 VICE CHAIRMAN 2012̶2017 ACTING PRESIDENT, ACCOMMODATION Hold position since 2005 CHAIRMAN & CEO 1998̶2004 DIVISION Holds position since 2019 MSc (Econ.) MSc (Sales and Marketing) Holds position since 2020 Employed 2005 Employed 2009 BSc (Nav. Arch.) Management Team member since 2005 Management Team member since 2019 ALMACO Group MacGregor Group Cargotec Corporation Employed 2014 President & CEO 2005 ̶2017 President & CEO 1986̶1997 Corporate Advisor 2005 ̶2008 Management Team member since 2014 Executive Vice President & COO MacGregor Group Kone Corporation 1984̶1985 Managing Director Passenger Ship Corporate Advisor 2004 Division 1996̶2004 Navire Cargo Gear Oy Konecranes Plc General Manager Reefer Engineering Managing Director 1982̶1983 CEO Asia Pacific 1998̶2003 1994̶1995 Deputy Managing Director 1972̶1981 MacGregor Group Senior VP & CFO 1987̶1997

FREDERIC VASSEUR HANNA LÅNGSTRÖM TERO RANTANEN

PRESIDENT, CATERING DIVISION VICE PRESIDENT, MARKETING VICE PRESIDENT, TECHNOLOGY & BUSINESS PROCESS MANAGEMENT Holds position since 2021 Holds position since 2021 MSc (Mechanical & Civil Engineering); MBA MSc (International Marketing) Holds position since 2003 Employed 2014 Employed 2020 BSc (Political Science) Management Team member since 2020 Management Team member since 2020 Employed 2001 MIKAEL HEDBERG MELANIE HERNANDEZ THOMAS LUNDBERG Management Team member since 2003

BOARD MEMBER SINCE 1998 BOARD MEMBER SINCE 2020 BOARD MEMBER SINCE 2020 DEPUTY BOARD MEMBER 2018̶2019

ADMARES Group ALMACO Group Crosskey Chairman since 2020 People & Organization Management CEO since 2012 INES STENIUS CEO 2015̶2020 since 2014 Paf After Sales Management 2008̶2014 ALMACO Group Deputy CEO 2006̶2012 VICE PRESIDENT, PEOPLE & Executive VP & COO 2005̶2014 ORGANIZATION Lehman Brothers President & COO 1998̶2004 Lawyer 2005 MacGregor Group Holds position since 2008 Director Passenger Ships 1994̶1997 Linklaters BA (Language Arts) Lawyer 2002̶2006 Employed 2005 Management Team member since 2008 Ålandsbanken Lawyer 1998, 2000̶2001

30 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 31 MARITIME INTERIOR AREAS AND LIFECYCLE SOLUTIONS AROUND THE WORLD

GALLEYS I PROVISION STORES I REFRIGERATION MACHINERY I LAUNDRY I CABINS I MOBILE CABIN FACTORY I PUBLIC AREAS I SUPERSTRUCTURES

ALMACO’S GLOBAL OFFICES

BRAZIL CHINA FINLAND FRANCE GERMANY ALMACO GROUP LTDA ALMACO GROUP LTD ALMACO GROUP OY ALMACO GROUP S.A.S. ALMACO GROUP GMBH

ITALY SINGAPORE USA - BOCA RATON USA - HOUSTON ALMACO GROUP S.R.L. ALMACO GROUP PTE LTD ALMACO GROUP INC ALMACO GROUP INC