CHINA SHIPPING DEVELOPMENT COMPANY LIMITED 1138 (1) 100% (2) 100% (3) (4) 6 20 22 23 24 49 2016 5 20 2 1171 2016 4 1 H 24 2016 4 29 2016 4 22
... 1... 6... 22... 24... I-1... II-1... III-1... IV-1... V-1... VI-1... VII-1 i
17 17 2016 5 20 2 1171 2016 3 29 1
15 15 100% H 1138 A 600026 2015 12 11 2
2016 3 29 2016 2016 2017 2018 100% 2015 12 24 3
2011 6 15 1 6 4
2016 4 19 LNG LPG 2015 12 31 100% 100% 2016 3 8 5
CHINA SHIPPING DEVELOPMENT COMPANY LIMITED 1138 188 A-1015 18 20 I. (1) 100% (2) 100% (3) (4) 2015 12 11 2016 3 29 6
(1) (i) 100% (ii) 100% (2) (i) (ii) 2016 3 8 (1) (2) (3) II. 2016 3 29 A. (1) 100% 7
(2) 100% 6,628,455,200 5,392,221,600 6,628.4552 5,392.2216 (1) (2) (3) (4) (5) P/E P/B EV/EBITDA 8
30 (1) (2) 5,999.13 4,233,364,590.14 5 2,104,607,290 11,668.63 6,261,344,338.44 386,714,730.29 3,444,300,104.55 (3) (4) (5) 9
(6) (7) (1) (2) 10
B. (1) (2) (3) (4) (LNG) (5) (6) (7) BDICCFI BDI 2016 11
III. A. 2015 12 31 2015 1 1 IV-1 2015 12 31 2015 12 31 68,378.65 41,855.45 26,523.20 2015 12 31 67,203.44 41,502.91 25,700.53 10,687.99 2015 12 31 416.99 2015 1 1 416.99 2015 12 31 2,912.65 B. 2015 12 31 804.09 2015 12 31 C. 2015 12 31 4,327.44 821.64 12
16,965.76 11,597.41 5,368.35 IV. A. 2016 3 29 (1) 2016 2018 819 (2) 13
(3) (4) (1) (2) (3) V. 14.07 100% 14 14
25% 75% 14 14A VI. 14.61 14.62 14.66(2) 14A.68(7) 14A.70(13) (1) (2) (3) 15
(4) (5) III. VII. 2011 6 15 (1) LNG (2) 5 (3) 2011 2012 5 (4) 16
2016 6 15 1 2 4 VIII. A. LNG 17
(1) (2) B. C. D. E. LNG LPG 2015 12 31 29 6.60 2015 12 24 18
2015 12 31 2015 12 31 6,109.59 2014 12 31 2015 12 31 2014 12 31 2015 12 31-317.95 816.46-403.91 808.14 F. 2015 12 31 2015 12 31 4,949.19 2014 12 31 2015 12 31 2014 12 31 2015 12 31 205.18-1,512.42 278.13-1,473.61 IX. 2016 3 8 X. 2016 5 20 2 1171 (1) 19
(2) (3) 19A.39A 2016 4 1 V. 1,554,631,593 A 38.56% (a) (b) (c) XI. 22 23 24 49 20
XII. 2016 4 22 21
CHINA SHIPPING DEVELOPMENT COMPANY LIMITED 1138 (1) 100% (2) 100% (3) 2016 4 22 22
2016 4 22 23
100% 100% 2016 4 22 14.07 100% 14.07 25% 75% 24
14A 2014 5 23 2014 9 12 2015 11 12 (i) (ii) (i) (ii) (iii) (iv) 2015 12 31 25
(v) 2015 12 31 (vi) 2015 12 31 (vii) 2014 12 31 2014 2015 12 31 2015 1. 2015 12 11 (i) 100% (ii) 100% 2016 3 29 2. 2.1 LNG 26
2014 2015 12 31 2013 2014 2015 % % % 100% 11,344 100% 12,274 100% 12,213 48% 5,389 45% 5,500 50% 6,079 52% 5,955 55% 6,774 50% 6,134 100% (181) 100% 1,388 100% 2,345 211% (382) 59% 825 92% 2,164 (111%) 201 41% 563 8% 181 (2,234) 309 417 1,919 2,449 2,086 58,842 65,750 68,379 21,227 21,829 25,697 2014 12 31 2014 12,274 2013 12 31 2013 11,344 930 8.2% 2013 2,234 2,543 2014 309 2014 2014 5,500 2013 2.1% 2013 48% 2014 45% 1,905 2.4% 2014 825 59% 27
2015 2015 12 31 2015 6,079 2014 5,500 579 10.5%2015 6,134 2014 6,774 640 9.4% 2015 2,164 2014 162.3% 2015 92% (i) (ii) (iii) 2.2 2.3 2.4 LNG LPG 2015 12 31 29 6.60 2015 12 24 28
2015 12 31 12 31 2013 2014 2015 (935) (318) 816 (945) (404) 808 (909) (373) 804 2013 2014 935 318 2015 816 2.5 2014 12 31 2015 12 31 12 31 2014 2015 205 (1,512) 278 (1,474) 2014 205 278 2015 1,512 1,474 29
2.6 3. (i) 2011 4 1 ($) 2011 2014 2015 2016 1 1 2016 1 5 CNBC 2015 12 28 2016 (Weak demand, vessel surplus to create horror 2016 for commodities shipping) 30
2016 1 13 (China imports record crude as price cash accelerates buying)2015 8.8% 2015 334 2016 2020 100 (ii) CNBC 2015 12 28 2016 2013 327 2014 291 2015 2011 4 1 5 2011 2013 2,000 2015 2015 8 5 2015 1,222 50% 2015 600 2015 31
2016 5 4. 2015 12 11 (i) 100% (ii) 100% 2016 3 29 4.1 2016 3 29 (i) 100% (ii) 100% 6,628,455,200 5,392,221,600 6,628.4552 5,392.2216 (i) 32
(ii) (iii) (iv) (v) P/E P/B EV/EBITDA 30 (i) (ii) 5,999.13 4,233,364,590.14 5 2,104,607,290 33
11,668.63 6,261,344,338.44 386,714,730.29 3,444,300,104.55 (iii) (iv) (v) (vi) (vii) 34
(i) (ii) 4.2 (i) (ii) (iii) (iv) (LNG) (v) 35
(vi) (vii) BDI BDI 2016 2015 2014 4.3 2016 3 29 36
(i) 2016 2018 819 (ii) (iii) 37
(iv) (i) (ii) (iii) 4.4 (i) (ii) (iii) (iv) (v) (vi) P/E P/B EV/EBITDA 38
(i) (a) (b) 39
(ii) (A) (a) (i) (ii) 50% 40
EV/EBITDA EV/EBITDA EV/ EBITDA 1 2 3 4 601872 SH 31,160 22.62 1.91 13.81 5 1138 HK/ 600026 SH 30,398 35.32 0.99 13.27 28.97 1.45 13.54 35.32 1.91 13.81 22.62 0.99 13.27 6 8.24 1.09 6.03 1. A H A H 2. 3. 4. EV/EBITDA 41
5. 50% 6. 2015 12 31 2015 12 31 EV/EBITDA 2015 12 31 22.62 35.32 28.97 0.99 1.91 1.45 EV/EBITDA 13.27 13.81 13.54 EV/EBITDA EV/EBITDA 8.24 1.09 6.03 EV/EBITDA EV/EBITDA (b) 42
EV/ EBITDA EV/EBITDA 1 2 3 2014 5 20 ACM Shipping Group Ltd. Braemar Shipping Services PLC 44 23.33 6.07 17.64 2015 12 11 Frontline 2012 Ltd. Frontline Ltd. 1,596 20.40 1.17 17.96 21.87 3.62 17.80 23.33 6.07 17.96 20.40 1.17 17.64 4 8.24 1.09 6.03 1. 2. 3. EV/EBITDA 4. 2015 12 31 2015 12 31 EV/EBITDA 2015 12 31 20.40 23.33 21.87 1.17 6.07 3.62 43
EV/EBITDA 17.64 17.96 17.80 EV/EBITDA EV/EBITDA 8.24 1.09 6.03 EV/EBITDA EV/EBITDA (B) (a) (i) (ii) 50% 44
EV/EBITDA EBITDA EV/EBITDA 1 2 Sinotrans Shipping Limited 368 HK 5,589 0.35 Pacific Basin Shipping Limited 2343 HK 2,219 0.29 1138 HK/ 600026 SH 30,398 0.99 600896 SH 8,809 4.96 600798 SH 7,236 2.30 000520 SZ 12,694 41.87 3 1.78 3 4.96 3 0.29 4 1.25 1. A H 2. 45
3. 2012 2014 2013 12 2015 12 2015 12 4. 2015 12 31 0.29 4.96 1.78 1.25 (b) 46
EV/ EBITDA EBITDA EV/EBITDA 1 2014 10 7 Golden Ocean Group Ltd. Knightsbridge Shipping Ltd. 70 1.08 2015 4 8 Baltic Trading Ltd. Genco Shipping & Trading Ltd. 291 0.27 2015 12 11 1.28 6,768 0.88 1.28 0.27 2 1.25 1. 2. 2015 12 31 0.27 1.28 0.88 1.25 5. 47
(i) 2015 12 31 4,327 822 2015 490 2,433 496.9% 2,923 2015 12 31 (ii) 2015 26,523 1,175 353 822 3.1% 25,701 2015 12 31 (iii) 2015 12 31 39,650 149.5% 39,025 151.8% (iv) 2015 6,466 2,086 14,957 2,155 48
4.6 (i) (ii) (iii) (iv) 5. 2011 6 15 49
2016 6 15 1 2 4 (i) (ii) (i) (ii) 2016 4 22 2005 6 50
I. 2013 2014 2015 12 31 2013 12 31 74 190 2014 12 31 85 208 2015 12 31 85 198 http://www.hkexnews.hk/listedco/listconews/sehk/2014/0417/ltn20140417046_c.pdf http://www.hkexnews.hk/listedco/listconews/sehk/2015/0430/ltn20150430038_c.pdf http://www.hkexnews.hk/listedco/listconews/sehk/2016/0418/ltn20160418182_c.pdf 1994 5 3 40.33 01138 600026 (LNG) 2015 12 31 2015 1.84 1.1% 4,709 9.5% 122.13 I-1
0.5% 98.67 9.4% 4.17 10.49 (1) (%) (%) (%) (%) 5,187,777 3,062,161 41.0 0.5-29.8 25.4 1,562,249 1,520,620 2.7-34.2-36.3 3.3 2,260,133 2,074,486 8.2-21.6-6.9-14.5 809,473 890,112-10.0 74.0 74.9-0.6 2,393,341 2,319,820 3.1 72.5 65.6 4.1 12,212,973 9,867,199 19.2-0.5-9.4 7.9 (%) 4,821,465 4.7 7,391,508-3.6 I-2
(2) 155.4 5.1% 21.58 8.6% 40.5% 6.5% 54% 2.9% 43.7% 8.6 31.0% 1,522 13.4% 39.21 11.6% 32.8% 12.84 11.4 786.6% 1,677 12.0% 60.79 10.5% I-3
(%) 155.4 147.8 5.1 149.3 133.9 11.5 6.1 13.9-56.1 1,521.9 1,757.2-13.4 1,213.3 1,417.8-14.4 308.6 339.4-9.1 1,677.3 1,905.0-12.0 (%) 21.58 19.88 8.6 19.60 17.20 14.0 1.09 2.12-48.6 0.89 0.56 58.9 39.21 35.12 11.6 21.78 20.20 7.8 9.41 12.13-22.4 8.02 2.79 187.5 60.79 55.00 10.5 (3) 2015 (COA) COA COA 5,095 1.68 I-4
77% 82% 75% 75% 58% VLOC 56 1,417 12.52 7.9% 11.6% 1.86 3,032 26.6% 61.34 9.5% (%) 721.1 723.7-0.4 531.0 567.3-6.4 77.2 71.0 8.7 112.9 85.4 32.2 2,310.9 1,672.1 38.2 200.8 121.7 65.0 1,767.5 1,475.4 19.8 342.6 75.0 356.8 3,032.0 2,395.8 26.6 I-5
(%) 26.64 26.19 1.7 13.11 19.33-32.2 1.50 2.77-45.8 2.64 2.58 2.3 9.39 1.51 521.9 34.70 41.55-16.5 2.51 4.41-43.1 21.10 26.06-19.0 5.45 2.07 163.3 5.64 9.01-37.4 61.34 67.74-9.4 (4) APLNG DES APLNG YAMAL LNG LNG 99 43 713 1,333 I-6
98.7 9.4% (%) (%) 2,735,705 4,555,800-40.0 27.7 1,144,577 1,107,320 3.4 11.6 1,304,625 1,499,667-13.0 13.2 214,099 223,797-4.3 2.2 1,880,065 1,842,974 2.0 19.1 212,597 238,527-10.9 2.2 321,003 351,382-8.6 3.2 1,595,540 516,664 208.8 16.2 127,828 107,358 19.1 1.3 331,160 442,131-25.1 3.3 9,867,199 10,885,620-9.4 100.0 9.5% 112.43 4.0% 2.72 2.39 12.1% 27.36 40.0% 27.7% 1.95 I-7
2,593 15.96 208.8% 132.9 0.72 64.9% 1,152 12.4% 57.86 31.9% 0.55 83.2% 484 14.3 2015 2015 2015 49% 508.5 2,002,173 32,548 50% 532.4 3,071,262 1,361 50% 16.7 85,666-13,846 50% 24.9 178,130 20,668 50% 69.6 448,487 13,929 I-8
25% 2.08 2.16 361.8 16.15 5.03 219 2015 2015 2015 40% 129.8 1,336,983 486,968 49% 232.0 278,327 15,948 1. 5,084,984,000 3,157,049,000 61.1% 2. 1 5,764,137 5,430,061 2 777,517 539,668 6,541,654 5,969,729 I-9
2,918,629,000 1,112,199,000 1. 2. 121,975,000 486,298,000 2,929,925,000 3,225,137,000 382,200 3. 39,238,534 41,211,060 (2,085,889) (2,449,240) 37,152,645 38,761,820 26,523,203 22,647,729 140% 171% 4. 794,370,000 696,892,000 611,900,000 I-10
1,292,096 1,579,382 487 910 12,324 11,182 710 746 611,900 5. 2,233,434 1,735,214 736 40,200 9,627 477 686 2,274,111 1,746,263 1,577,830 1,503,619 604,399 131,929 48,784 58,604 40,055 47,443 3,043 4,668 2,274,111 1,746,263 I-11
377,530,000 242,644,000 335,432 190,533 39,055 47,443 3,043 4,668 377,530 242,644 I-12
1,105,388 968,211 2 6. 149,853 139,850 836,779 316,039 3,427 333,929 74,565 185,917 185,662 16,971 16,971 25 76,153 1,523,474 812,667 304,046 483,041 81,117 23,011 34,019 22,820 4,735 1,914 20,317 13,629 I-13
7. 619,700 472,700 729 147 3,260 860 236,523 377,627 12,844 9,576 31,382 129,759 904,438 990,669 515,293 619,246 12,384 36,944 5,664 2,283 4,919 6,161 1,494 9,458 612,959 710,078 118,197 129,070 47,088 51,795 80,573 66,103 37,122 24,436 8,499 9,187 904,438 990,669 I-14
8. 594,645 (57,484) 42,344 41,906 6,422 17,647 74,816 4,962 12,519 97,665 185 730,931 104,696 375,682 314,656 11,978 3,412 5,651 1,937 I-15
9. 281,815 349,694 127,828 107,358 (142,287) (175,850) (594) 613 266,762 281,815 107,623 142,287 159,139 139,528 266,762 281,815 266,762,000 281,815,000 2,556,989,000 2,709,313,000 10. 508 411,385 291,553 609,800,282 3,959,799,000 609,800,282 3,731,368,000 I-16
Libor 0.42% 2.20% Libor 0.42% 0.45% 2.20% 104,840 436,415 1,807 3,386 106,647 439,801 41,334,000 I-17
11. (a) (%) (i) 5% 10%, Libor + 0.38% 2.15% Libor Libor + 0.42% 2.15% Libor + 0.40% 1.70% 3.50% 4.80% 2016 1,487,272 1,926,196 9% 10% Libor + 0.60% 4% Libor Libor + 0.70% 2.20% 1.70% 4.80% 2016 4,529,070 4,030,944 6,016,342 5,957,140 (ii) 5% 6% 2016 8,670 253,160 10%, Libor + 1.60% 2.90% Libor + 2.10% 1.50% 6% 2016 2,179,360 2,032,790 2,188,030 2,285,950 8,204,372 8,243,090 I-18
(i) (%) 5% 10%, Libor + 0.38% 2.15% Libor + 0.42% 2.20% Libor + 0.40% 1.70% 4.27% 2018 4.80% 2037 13,264,504 11,295,416 10% 20% Libor + 1.45% 1.85% Libor + 1.20% 2.40% 2.91% 6% 2017 2024 6,789,686 7,388,464 20,054,190 18,683,880 (ii) 5% 2023 100,470 129,540 Libor + 2% 2.50% 3.60% 6.51% 2017 2018 5,298,721 4,611,923 5,399,191 4,741,463 25,453,381 23,425,343 I-19
20,639,356,000 19,154,098,000 6,004,226,000 4,995,123,000 611,900,000 13,326,897,000 12,470,966,000 7,437,128,000 6,978,985,000 1,948,080,000 611,923,000 (b) (i) 6,016,342 5,957,140 4,577,413 2,689,239 8,131,904 10,204,923 7,344,873 5,789,718 26,070,532 24,641,020 (ii) 2,188,030 2,285,950 1,658,540 8,670 3,680,215 4,640,993 60,436 91,800 7,587,221 7,027,413 33,657,753 31,668,433 292,800,000 1,421,790,000 253,400,000 1,370,990,000 39,400,000 50,800,000 I-20
7,148,080,000 5,411,923,000 1,849,360,000 800,000,000 5,298,720,000 4,611,923,000 (c) 3,000,000,000 3.90% 100% 12. 420,016 410,784 519,946 306,769 107,681 241,856 138,140 17,721 12,286 1,199,539 975,660 (44,714) 1,199,539 930,946 64,680,000 420,016,000 67,130,000 410,784,000 3% 3.50% 7,069,829 45,909,000 5,885,854 36,015,000 Libor 3.30% 6.20% Libor 3.30% I-21
73,000,707 474,037,000 44,248,019 270,754,000 Libor 2.20% Libor 2.20% 17,597,200 107,681,000 37,245,259 241,856,000 22,575,542 138,140,000 Libor 2.20% Libor 2.20% 2,729,070 17,721,000 2,007,839 12,286,000 Libor 4.90% 5.50% Libor 4.90% I-22
13. 65,389 68,977 48,751 43,979 65,358 68,977 50,917 46,630 196,073 206,931 167,253 158,273 142,988 219,910 135,833 199,578 469,808 564,795 402,754 448,460 (67,054) (116,335) 402,754 448,460 (48,751) (43,979) 354,003 404,481 10% 10% I-23
14. 3,145,147 3,978,488 4,973,360 3,978,488 8,118,507 (4,143,383) 3,978,488 3,975,124 (a) 39.5 A 100 39,500,000 A 8.7 0.10 A 8.70 8.60 105% A 0.5% 0.7% 0.9% 1.3% 1.6% 2%A AA 70% (i) A 130% (ii) A 30,000,000 A 3,039,329,000 873,043,000 I-24
5.6% 8.60 6.24 A A 6.24 130% A A A AA 3,424,692 192,486 (35,586) (436,445) 3,145,147 14,677 (3,120,694) (34,744) (4,386) 3,145,147,000 5.6% A 14,677,000 192,486,000 I-25
(b) 4,967,236 6,124 4,973,360 5,128 (1,000,000) 3,978,488 3,978,488 3,978,488 1,000,000 991,400 998,236 1,764 (1,000,000) 1,500,000 1,487,100 1,489,656 1,148 1,490,804 1,500,000 1,488,600 1,491,727 1,550 1,493,277 1,000,000 992,400 993,741 666 994,407 5,000,000 4,959,500 4,973,360 5,128 (1,000,000) 3,978,488 10 4.20% 100% 15 5% 100% I-26
15 5.05% 100% 10 5.18% 100% 15. (i) 1 22,250,000 (ii) 75 75 19,370,000 11,250,000 75 4,000,000 4,000,000 75 (iii) 30% Aquarius LNG Shipping Limited LNG Gemini LNG Shipping Limited LNG 30% Capricon LNG Shipping Limited LNG Aries LNG ShippingLimited LNG LNG LNG LNG LNG LNG LNG Papua New Guinea Liquefied Natural Gas Global Company LDC Papua New Guinea Liquefied Natural Gas Global Company LDC Mobil Australia Resources Company Pty Ltd. Mobil Australia Resources Company Pty Ltd. I-27
(1) (2) 820 5,324.8 20 (iv) 173,865,000 (v) 71 72 47,452,000 The London P & I Club SKULD (vi) LNG DY Maritime Limited 490,000,000 3,181,864,000 6,400,000 41,559,000 I-28
(vii) 50% 26,250,000 16. 1% 52,885,000 175,485,000 17. 100 211,388,000 165,076,000 1. 20.37 18.43 I-29
51.6 66 7,449 7.0 100 9,398 5.1 166 16,847 5.9 2. 132.9 1.3 131.6 1. 3% 2 6% VLCC 6.9% 5.4% 0.6% 2.8% 2. I-30
3. 15 LNG 52.5 1,700 LNG 52.5 4,533 3.8% 130 2.0% 107 3% 4. (1) I-31
LNG LNG LNG (2) (3) (4) 25 (5) I-32
(6) 1. H H H H H 183 17 1712-1716 H H H H 183 17 1712-1716 H 2. 12% I-33
[2009]27 5% 3. (i) 18% 22% 18% 22% 28,741,000 62,425,000 5% 1.25% 5 7,408,000 12,197,000 (ii) 5% I-34
5% 25,000 30,000 931,000 4,766,000 4. XV 5. 6. E.1.2 A.6.7 E.1.2 I-35
A.6.7 7. 8. 9. 10. I-36
6,269 8,805 17.32 18.44 11. (i) 6,628,455,200 5,392,221,600 (ii) 420 280 12. 39.5 A 4,032,032,861 4,032,032,861 I-37
2014 1.82 1.9% 4,301 10.9% 122.74 8.2% 108.86 5.5% 3.09 9.09 1. (%) (%) (%) (%) 5,164,370 4,359,081 15.6-0.7-21.7 22.6 2,374,115 2,388,618-0.6-12.0-11.8-0.2 2,883,053 2,228,176 22.7 17.4 4.8 9.3 465,255 508,873-9.4-0.5 2.7-3.4 1,387,056 1,400,872-1.0 167.0 123.3 19.8 12,273,849 10,885,620 11.3 8.2-5.5 12.9 I-38
(%) 4,607,060-6.0 7,666,789 19.0 (1) 2014 2014 20% 20% 2014 6% 9.7% 5 2014 6.6 52% 8,300 6,000 7.5% 30% 7.5% 22% VLCC VLCC 2014 VLCC 1.02 7.59 I-39
1,905 2.4% 5.5 2.1% (%) 147.8 150.0-1.5 133.9 132.5 1.1 13.9 17.5-20.6 1,757.2 1,710.3 2.7 1,417.8 1,346.6 5.3 339.4 363.7-6.7 1,905.0 1,860.3 2.4 (%) 19.88 20.58-3.4 17.20 17.58-2.2 2.12 2.95-28.1 0.56 0.05 1,020.0 35.12 33.31 5.4 20.20 16.63 21.5 12.13 14.88-18.5 2.79 1.80 55.0 55.00 53.89 2.1 I-40
(2) 2014 COA 2014 COA 5,650 COA 2014 1,672 41.55 23.7% 33.4% 5.86 14.1% 4.8 VLOC COA 14 VLOC 2014 2,617 26.1 8.7% 22.9% 6.8 2.8 26.3% 2014 4,602 40.5% 7.2% 3 I-41
2,395.8 18.7% 67.74 13.8% (%) 723.7 666.2 8.6 567.3 540.3 5.0 71.0 67.0 6.0 85.4 58.9 45.0 1,672.1 1,351.6 23.7 121.7 178.0-31.6 1,475.4 1,130.7 30.5 75.0 42.9 74.8 2,395.8 2,017.8 18.7 (%) 26.19 28.41-7.8 19.33 20.93-7.6 2.77 3.36-17.6 2.58 3.20-19.4 1.51 0.92 64.1 41.55 31.14 33.4 4.41 6.05-27.1 26.06 21.20 22.9 2.07 1.47 40.8 9.01 2.42 272.3 67.74 59.55 13.8 I-42
(3) LNG LNG LNG LNG 2014 LNG DES APLNG APLNG YAMAL LNG 2014 7 3 LNG 2014 108.9 5.5% 2014 2013 2014 (%) 4,555,800 4,818,839-5.5% 41.9% 1,107,320 1,302,820-15.0% 10.2% 1,499,667 1,657,039-9.5% 13.8% 223,797 223,615 0.1% 2.1% 1,842,974 1,641,748 12.3% 16.9% 238,527 251,978-5.3% 2.2% 351,382 289,137 21.5% 3.2% 516,664 612,076-15.6% 4.7% 107,358 349,694-69.3% 1.0% 442,131 377,893 17.0% 4.0% 10,885,620 11,524,839-5.5% 100.0% I-43
2014 2014 10.9% 117.12 1.1% 2013 3.05 2.72 10.8% 2014 45.56 5.5% 41.9% 2014 2014 1.57 2014 1.96 1,345 2014 18.43 12.3%(1) 13 145.2 (2) 2014 1 1 470 2,960 420 2,560 2014 0.57 2.06 85.6% 1,315.0 23.5% 84.93 9.0% 3.26 100.0% 82 458 10 47.5 I-44
2014 2014 2014 49% 721.6 3,380,687 267,198 50% 474.6 4,270,631 22,698 50% 18.4 113,616 1,056 50% 24.2 188,382 14,485 50% 76.2 539,367 20,467 25% 2.13 0.91 224.5 12.18 4.25 7 59 2014 2014 2014 40% 224.5 1,217,924 425,434 I-45
1. 3,157,049,000 1,429,279,000 120.9% 2. 1 5,430,061 9,586,595 2 539,668 592,868 539,668 592,868 5,969,729 10,179,463 539,668 592,868 1,112,199,000 5,980,812,000 539,668,000 592,868,000 1. 2. 539,668,000 592,868,000 486,298,000 895,929,000 3,225,137,000 1,296,397,000 4,900,000 I-46
3. 41,211,060 33,603,578 15,830,407 17,878,629 (2,449,240) (1,919,204) (517,755) (487,558) 38,761,820 31,684,374 15,312,652 17,391,071 22,647,729 22,211,877 21,165,727 20,975,375 171% 143% 72% 83% 4. 696,892,000 792,008,000 611,900,000 1,579,382 1,043,235 16,489 79,898 910 1,866 11,182 1,722 70 73 746 841 745 841 I-47
611,900 611,900 5. 1,735,214 1,647,728 2,553 1,312 11,049 102,557 1,746,263 1,750,285 2,553 1,312 I-48
% % 1,503,619 86 1,559,506 89 131,929 8 108,813 6 58,604 3 47,208 3 47,443 3 33,251 2 4,668 1,507 1,746,263 100 1,750,285 100 % % 2,495 98 1,255 96 58 2 57 4 2,553 100 1,312 100 242,644,000 190,779,000 I-49
190,533 156,021 47,443 34,758 57 4,668 58 242,644 190,779 58 57 968,211 822,395 1,893 2 I-50
6. 139,850 67,484 6,350 4,611 316,039 164,515 38,081 49,984 185,662 125,294 74,565 65,000 50,000 50,217 3,427 16,971 24,275 76,153 39,606 10,289,076 5,135,667 812,667 486,174 10,383,507 5,240,479 3,500,000,000 3.60% 4.50% 5% 20% 483,041 318,021 16,975 1,889,812 22,820 64,040 65 1,914 2,390 36,638 38,049 86 I-51
7. 472,700 548,149 2,824 1,614 147 860 1,125 377,627 920,966 247 9,853 129,759 47,173 9,576 25,320 8,720 8,688 990,669 1,542,733 11,791 20,155 619,246 577,249 8,675 93 36,944 1,969 2,283 1,885 6,161 48 9,458 9,514 I-52
% % 710,078 72 1,388,738 90 129,070 13 71,612 5 51,795 5 49,090 3 66,103 7 17,928 1 24,436 2 5,889 9,187 1 9,476 1 990,669 100 1,542,733 100 % % 2,377 20 9,653 48 344 2 220 2 705 3 6,541 33 6,707 57 2,818 14 2,487 21 94 11,791 100 20,155 100 I-53
8. 41,906 53,067 3,676 5,631 (57,484) 139,616 73,250 (131,164) 17,647 88,207 17,135 88,207 97,665 633,767 41 2,398 4,962 2,444 489 733 81,683 237,832 104,696 917,101 176,274 203,637 314,656 337,323 2,400 41,726 3,412 25,333 4,327 1,937 56,364 3,553 I-54
9. 349,694 33,436 (175,850) (17,158) 107,358 349,694 45,547 33,436 613 50 281,815 349,694 61,875 33,436 142,287 175,287 32,317 17,158 139,528 174,407 29,558 16,278 281,815 349,694 61,875 33,436 281,815,000 349,694,000 2,709,313,000 3,031,793,000 I-55
10. 151,027 (1,940) (291,553) (4,689) (291,553) (6,629) 609,800,282 3,731,368,000 651,133,615 3,969,869,893 Libor 0.42%,0.45% 2.2% Libor 0.42%, 0.45% 2.2% (436,415) 157,491 (3,386) (6,216) (439,801) 151,275 41,333,333 I-56
11. (a) (%) (i) 5% 10% Libor Libor+1.30%, Libor+0.38% 2.15%, 3.50% 4.73% 2015 1,926,196 1,627,229 611,900 Libor+0.60% 4.00% 9% 10% Libor Libor+1.30% 2.20%, 4.50% 2015 4,030,944 1,575,940 200,000 487,752 5,957,140 3,203,169 811,900 487,752 (ii) 3.90% 2014 2,998,949 2,998,949 (iii) 6.00% 5% 2015 253,160 6,630 10%, 2.50% 6.00%, Libor+1.60% 2.90% 2015 2,032,790 2,356,307 1,100,000 1,000,000 2,285,950 2,362,937 1,100,000 1,000,000 8,243,090 8,565,055 1,911,900 4,486,701 I-57
(%) (i) 5% 10% Libor+2.20%, Libor+0.38% 2.15%, 4.27% 4.73% 10% 20% Libor+1.45% 1.85% Libor+2.40%,1.68% 6.00% 11,295,416 8,109,880 7,388,464 2,092,182 1,800,000 18,683,880 10,202,062 1,800,000 (ii) 2016-2037 2019-2026 5% 2023 129,540 137,700 10% 3.60% 6.51% Libor+2.50% 2017-2018 4,611,923 5,072,790 4,000,000 5,000,000 4,741,463 5,210,490 4,000,000 5,000,000 23,425,343 15,412,552 5,800,000 5,000,000 (i) 24,149,221,000 16,299,120,000 48 34 13 4 (ii) 504,705,000 611,900,000 12,470,966,000 9,598,438,000 6,978,985,000 2,947,739,000 611,923,000 426,767,000 I-58
(b) (i) 5,957,140 3,203,169 811,900 487,752 2,689,239 1,675,888 10,204,923 3,886,845 1,800,000 5,789,718 4,639,329 24,641,020 13,405,231 2,611,900 487,752 (ii) (iii) 2,998,949 2,998,949 2,285,950 2,362,937 1,100,000 1,000,000 8,670 2,079,420 2,000,000 4,640,993 3,026,010 4,000,000 3,000,000 91,800 105,060 7,027,413 7,573,427 5,100,000 6,000,000 31,668,433 23,977,607 7,711,900 9,486,701 1,421,790,000 1,658,930,000 1,370,990,000 1,532,140,000 50,800,000 126,790,000 5,411,923,000 5,400,000,000 800,000,000 400,000,000 4,611,923,000 5,000,000,000 426,767,000 I-59
(c) 3,000,000 3,000,000 (8,245) (8,245) 2,991,755 2,991,755 8,245 7,194 (3,000,000) 2,998,949 3,000,000,000 3.90% 100% 12. 410,784 424,206 306,769 142,453 107,681 104,297 138,140 63,132 12,286 10,020 975,660 744,108 (44,714) (29,874) 930,946 714,234 I-60
67,130,000 410,784,000 69,580,000 424,206,000 3.5%3.5% 5,885,854 36,015,000 3,069,517 18,714,000 3.3% 44,248,019 270,754,000 20,295,349 123,739,000 2.2% 17,597,200 107,681,000 17,107,200 104,297,000 22,575,542 138,140,000 10,354,792 63,132,000 2.2% 2,007,839 12,286,000 1,643,393 10,020,000 4.9% I-61
13. 5.90% 68,977 68,977 43,979 41,479 68,977 68,977 46,630 43,979 206,931 206,931 158,273 149,543 219,910 288,886 199,578 254,934 564,795 633,771 448,460 489,935 (116,335) (143,836) 448,460 489,935 (43,979) (41,479) 404,481 448,456 I-62
14. 3,145,147 3,424,692 4,973,360 4,967,236 8,118,507 8,391,928 (4,143,383) 3,975,124 8,391,928 (a) 39.5 A 100 39,500,000 A 8.70 0.10 8.70 8.60 105% A 0.5% 0.7% 0.9% 1.3% 1.6% 2.0% A AA 70% (i) A 130% (ii) A 30,000,000 I-63
A 3,039,329,000 873,043,000 5.6% 8.60 6.24 A A 6.24 130% A A A A A 3,267,823 184,541 (27,650) (22) 3,424,692 192,486 (35,586) (436,445) 3,145,147 3,145,147,000 3,424,692,000 5.6%5.6% A 192,486,000 184,541,000 I-64
(b) (i) 4,961,395 5,841 4,967,236 6,124 4,973,360 998,236 3,975,124 4,973,360 1,000,000 991,400 995,319 2,917 998,236 1,500,000 1,487,100 1,488,561 1,095 1,489,656 1,500,000 1,488,600 1,490,249 1,478 1,491,727 1,000,000 992,400 993,107 634 993,741 5,000,000 4,959,500 4,967,236 6,124 4,973,360 10 4.20% 100% 15 5.00% 100% I-65
15 5.05% 100% 10 5.18% 100% 15. (i) 1 22,250,000 (ii) 75 75 19,370,000 11,250,000 75 75 (iii) Aquarius LNG Shipping Limited LNG Gemini LNG Shipping Limited LNG Capricon LNG Shipping Limited LNG Aries LNG Shipping Limited LNG LNG LNG LNG LNG LNG LNG Papua New Guinea Liquefied Natural Gas Global Company LDC Papua New Guinea Liquefied Natural Gas Global Company LDC Mobil Australia Resources Company Pty Ltd. Mobil Australia Resources Company Pty Ltd. I-66
(1) (2) 820 5,018 20 (iv) 173,865,000 (v) 71 72 47,452,000 the London P&I Club SKULD (vi) LNG DY Maritime Limited 490,000,000 2,998,310,000 6,400,000 39,162,000 I-67
16. 1% 175,485,000 154,289,000 17. 100 165,076,000 100,108,000 15,000,000 3,658,000 1. 91.64 66.38 I-68
2 43 11 102.2 67 7,462 6.2 127 10,200 9.3 194 17,662 8.3 2. 26 86.7 9 30.8 17 55.9 8,805 1,843,502,000 1,901,438,000 ( ) 1. 2015 I-69
2015 VLCC 2. 3. 2015 8 51.6 1,872 1.3% 2015 2015 4,390 2.1% 125 1.8% 98 10% 4. 2015 (1) I-70
B. 2015 VLCC COA LNG DSE 2015 1 LNG 2015 DES APLNG YAMAL LNG LNG LNG C. 21 D. I-71
2015 E. 2015-2016 43.7 18.4 F. I-72
2013 4,112.9 5.6% 113.44 2.6% 115.25 2.4% 22.34 0.6562 1. (%) (%) (%) (%) 5,388,805 5,770,434-7.1% -3.6% -0.7% -3.2% 2,698,142 2,708,046-0.4% -0.1% -5.0% 5.1% 2,455,750 2,125,930 13.4% 14.0% 16.7% -2.1% 801,455 920,429-14.8% 32.2% 19.7% 12.0% 11,344,152 11,524,839-1.6% 2.6% 2.4% 0.2% I-73
(%) 4,899,067-0.3% 6,445,085 5.0% (a) 2013 54% 193 1.6 2013 VLCC I-74
1,941 2.1% 53.89 3.6% (%) 163.8 178.4-8.2% 132.4 126.0 5.1% 31.4 52.4-40.1% 1,777.3 1,804.4-1.5% 1,346.7 1,488.2-9.5% 430.6 316.2 36.2% 1,941.1 1,982.8-2.1% (%) 20.58 21.95-6.2% 17.58 17.96-2.1% 3.00 3.99-24.8% 33.31 33.98-2.0% 16.63 20.23-17.8% 16.68 13.75 21.3% 53.89 55.93-3.6% I-75
(b) COA 5,343 16% 60% 3.2 8 23 6 30 VLOC 2013 2,053 22.7% 17.2 5.4 2,172 13.6% 59.55 9.0% (%) 666.2 634.6 5.0% 540.3 516.8 4.5% 67.0 63.5 5.5% 58.9 54.3 8.5% 1,505.6 1,276.7 17.9% 178.0 190.8-6.7% 1,130.7 864.8 30.7% 196.9 221.1-11.0% 2,171.8 1,911.3 13.6% I-76
(%) 28.41 27.19 4.5% 20.93 21.38-2.1% 3.36 2.65 26.8% 4.12 3.16 30.4% 31.14 27.42 13.6% 6.05 5.61 7.8% 21.20 18.90 12.2% 3.89 2.91 33.7% 59.55 54.61 9.0% (c) LNG LNG (MOL) DES 2013 4 APLNG 6 LNG I-77
2013 115.24 2.4% 2013 2012 (%) 2013 4,818,839 5,303,973-9.1% 41.8% 1,302,820 1,106,553 17.7% 11.3% 1,657,039 1,545,480 7.2% 14.4% 223,615 244,858-8.7% 2.0% 1,641,748 1,448,173 13.4% 14.2% 251,978 260,733-3.4% 2.2% 289,137 386,791-25.2% 2.5% 612,076 623,567-1.8% 5.3% 349,694 3.0% 377,893 332,123 13.78% 3.3% 11,524,839 11,252,251 2.4% 100.0% 2013 WTI 98 2013 5.6% 118.45 0.6% 48.19 41.8% 2.88 4.6% 4,068 9.8% 2013 3.13 I-78
1.11 62.2% 1,718.9 34.6% 93.29 32.6% 1.63 70.1% 80 416 22 118.5 2013 2013 2013 49% 1,148.8 5,086,740 273,380 50% 454.0 3,638,341 (118,453) 50% 20.0 130,396 (15,470) 50% 21.1 156,753 8,642 50% 75.0 317,146 14,545 25% 1.65 I-79
1. 349,694 33,436 349,694 33,436 (175,287) (17,158) 174,407 16,278 349,694,000 3,031,793,000 2. 1,429,279,000 891,308,000 60.4% 3. 1 9,586,595 6,742,053 2,245,880 2 592,868 1,029,703 592,868 1,029,703 10,179,463 7,771,756 592,868 3,275,583 I-80
5,980,812,000 6,742,053,000 592,868,000 2,245,880,000 1. 2. 592,868,000 1,029,668,000 35,000 895,929,000 1,561,350,000 1,296,397,000 2,353,458,000 4,900,000 1,286,211,000 4. 33,603,578 31,158,949 17,878,629 18,154,979 (1,919,204) (3,285,745) (487,558) (1,278,982) 31,684,374 27,873,204 17,391,071 16,875,997 22,211,877 24,385,563 20,975,375 21,728,801 143% 114% 83% 78% I-81
5. 792,008,000 1,437,942,000 871,540 2,377,782 406,746 1,174,135 1,043,235 899,247 79,898 103,979 1,866 4,731 1,722 3,154 73 37 841 831 841 831 1,919,204 3,285,745 487,558 1,278,982 I-82
6. (a) (%) (i) Libor+0.4% 1.7% 6.46% 2014 1,627,229 1,069,328 Libor+0.6% 4% Libor Libor+1.3% 6.55% 2014 1,575,940 1,678,164 487,752 628,550 3,203,169 2,747,492 487,752 628,550 (ii) 3.9% 2014 2,998,949 2,998,949 (iii) 6.46% 2014 6,630 18,657 10% 4.86% 6.51% Libor+1.6% 2014 2,356,307 1,428,740 1,000,000 1,300,000 2,362,937 1,447,397 1,000,000 1,300,000 8,565,055 4,194,889 4,486,701 1,928,550 I-83
(%) (i) Libor+2.2% Libor+0.4% 2016-8,109,880 8,327,379 1.7% 6.46% 2037 Libor+1.55% 2019-2,092,182 1,257,236 1.85% 6.55% 2024 10,202,062 9,584,615 (ii) 3.9% 2014 2,997,211 2,997,211 (iii) 6.46% 2023 137,700 188,663 10% 4.12% 6.51% 2015-2018 5,072,790 5,436,590 5,000,000 5,000,000 5,210,490 5,625,253 5,000,000 5,000,000 15,412,552 18,207,079 5,000,000 7,997,211 34 31 4 6 16,299,120,000 16,073,385,000 504,705,000 9,598,438,000 8,924,947,000 2,947,739,000 1,964,098,000 426,767,000 628,550,000 I-84
(b) (i) 3,203,169 2,747,492 487,752 628,550 1,675,888 1,254,148 3,886,845 3,595,355 4,639,329 4,735,112 13,405,231 12,332,107 487,752 628,550 (ii) 2,998,949 2,998,949 2,997,211 2,997,211 2,998,949 2,997,211 2,998,949 2,997,211 (iii) 2,362,937 1,447,397 1,000,000 1,300,000 2,079,420 86,554 2,000,000 3,026,010 2,407,994 3,000,000 2,000,000 105,060 3,130,705 3,000,000 7,573,427 7,072,650 6,000,000 6,300,000 23,977,607 22,401,968 9,486,701 9,925,761 I-85
1,658,930,000 562,930,000 1,532,140,000 59,200,000 126,790,000 503,730,000 5,400,000,000 6,300,000,000 400,000,000 1,300,000,000 5,000,000,000 5,000,000,000 426,767,000 426,767,000 (c) 3,000,000 3,000,000 (8,245) (8,245) 2,991,755 2,991,755 7,194 5,456 2,998,949 2,997,211 3,000,000,000 3.90% 100% I-86
7. 424,206 437,318 142,453 12,574 104,297 76,993 63,132 10,020 878 744,108 527,763 (29,874) 714,234 527,763 69,580,000 69,580,000 3.5%3% 3,069,517 3.3% 20,295,349 2.2% 17,107,200 I-87
10,354,792 2.2% 1,643,393 4.9% 8. 3,424,692 3,267,823 4,967,236 4,961,395 8,391,928 8,229,218 (a) 39.5 AA 100 3,950 A 8.7 0.1 A 8.7 8.6 105% A 0.5% 0.7% I-88
0.9% 1.3% 1.6% 2% AA (i) A (ii) A 30,000,000 A 3,039,329,000 873,043,000 5.6% 3,110,598 176,978 (19,750) (3) 3,267,823 184,541 (27,650) (22) 3,424,692 3,424,692,000 3,267,823,000 5.6% 5.6% A 184,541,000 176,978,000 I-89
(b) (i) 4,959,500 1,895 4,961,395 5,841 4,967,236 1,000,000 991,400 992,527 2,792 995,319 1,500,000 1,487,100 1,487,519 1,042 1,488,561 1,500,000 1,488,600 1,488,844 1,405 1,490,249 1,000,000 992,400 992,505 602 993,107 5,000,000 4,959,500 4,961,395 5,841 4,967,236 10 4.20% 100% 15 5.00% 100% I-90
15 5.05% 100% 10 5.18% 100% 9. 5.90% 68,977 41,479 68,977 43,979 206,931 149,543 288,886 254,934 633,771 489,935 (143,836) 489,935 (41,479) 448,456 I-91
10. (a) 1 1 23,120,000 (b) 75 75 11,000,000 75 75 (c) Aquarius LNG Shipping Limited LNG Gemini LNG Shipping Limited LNG Capricorn LNG Shipping Limited LNG Aries LNG Shipping Limited LNG LNG LNG LNG LNG LNG LNG Papua New Guinea Liquefied Natural Gas Global Company LDC Papua New Guinea Liquefied Natural Gas Global Company LDC Mobil Australia Resources Company Pty Ltd. Mobil Australia Resources Company Pty Ltd. (1) (2) 820 5,000 I-92
(d) 95,000,000 11. 1% 154,289,000 140,559,000 12. 100 100,108,000 163,840,000 3,658,000 40,250,000 I-93
1. 41.00 37.40 6 64 18 173 74 7,337 7.1 133 9,739 11.4 207 17,076 9.8 2. 12 61.9 9 52.3 3 9.6 7,536 I-94
1,901,438,000 1,816,541,000 ( ) 1. 2014 GDP 7.5% BDI 2013 2013 2. 2014 20 40 130.6 3. 2014 20 192 2 43 18 149 1,806 5.7% I-95
2014 2014 5,192 26.2% 143.36 26.4% 126.95 10.2% 4. 2014 (a) 2014 COA LNG APLNG LNG LNG LNG (b) I-96
(c) 2014 (d) 2014-2015 68.87 25.37 (e) (f) II. 12 I-97
III. 1. 32,759,522 10,990,514 * 21,769,008 814,597 814,597 3,978,488 3,978,488 * 2. (i) Aquarius LNG Shipping Limited LNG Gemini LNG Shipping Limited LNG Capricorn LNG Shipping Limited LNG Aries LNG Shipping Limited LNG LNG LNG LNG LNG LNG LNG Papua New Guinea Liquefied Natural Gas Global Company LDC Papua New Guinea Liquefied Natural Gas Global Company LDC Mobil Australia Resources Company Pty Ltd. Mobil Australia Resources Company Pty Ltd. I-98
(1) (2) 820 5,400 20 (ii) Yamal LNG DY Maritime Limited 490,000,000 3,207,148,000 6,400,000 41,889,000 (iii) Mohammedia 5,500 3,700 17,380,000 2,062,000 26,300,000 15,000 98,000 I-99
IV. V. 2016 25 I-100
2016 LNG 525,000 I-101
2015 12 31 40 9 70 300 2013 2014 2015 II-1
12 31 2013 2014 2015 3,607.7 4,126.5 4,820.4 (4,181.1) (4,173.4) (3,718.4) (573.4) (46.9) 1,101.9 47.4 234.7 254.0 (19.4) (114.0) (167.3) (5.4) (5.0) (228.3) (211.7) (235.7) (22.9) (33.2) (33.2) (802.0) (176.2) 919.7 (251.8) (263.8) (254.5) 118.9 122.0 151.3 (934.9) (317.9) 816.5 (9.7) (86.0) (8.3) (944.6) (403.9) 808.1 (909.5) (373.2) 804.1 (35.1) (30.7) 4.0 (944.6) (403.9) 808.1 II-2
2013 2014 2015 12 31 14,599.1 15,192.1 17,238.8 2013 2014 2015 12 31 11,088.2 11,539.4 11,129.2 2013 2014 2015 12 31 3,511.0 3,652.6 6,109.6 2013 2014 2015 12 31 3,229.8 2,909.2 3,948.1 76.0% 76.0% 65.0% 2015 12 31 2014 12 31 2015 12 31 4,820.4 2014 12 31 4,126.5 693.9 2015 12 31 3,718.4 2014 12 31 4,173.4 455.0 (i) (ii) II-3
2015 12 31 1,101.9 2014 12 31 46.9 2015 12 31 254.0 2014 12 31 234.7 19.3 2015 12 31 167.3 2014 12 31 114.0 53.3 2015 12 31 2014 12 31 5.0 5.0 2014 12 31 2015 12 31 2015 12 31 235.7 2014 12 31 211.7 24.0 (i) (ii) 2015 2014 12 31 33.2 2015 12 31 254.5 2014 12 31 263.8 9.3 II-4
2015 12 31 151.3 2014 12 31 122.0 29.3 2015 12 31 8.3 2014 12 31 86.0 77.7 2015 12 31 808.1 2014 12 31 403.9 2014 12 31 2013 12 31 2014 12 31 4,126.5 2013 12 31 3,607.7 518.8 2014 12 31 4,126.4 2013 12 31 4,181.1 54.7 2014 12 31 46.9 2013 12 31 573.4 526.5 2014 12 31 234.7 2013 12 31 47.4 187.3 II-5
2014 12 31 114.0 2013 12 31 19.4 94.6 2014 12 31 6.7 2013 12 31 50.9 2014 12 31 5.0 2013 12 31 5.4 0.4 2014 12 31 211.7 2013 12 31 228.3 16.6 (i) (ii) 2014 12 31 33.2 2013 12 31 22.9 10.3 2014 12 31 263.8 2013 12 31 251.8 12.0 2014 12 31 122.0 2013 12 31 118.9 3.1 2014 12 31 86.0 2013 12 31 9.7 76.3 II-6
2014 12 31 403.9 2013 12 31 944.6 540.7 2013 2014 2015 12 31 5,296.7 4,756.9 4,566.9 2013 2014 2015 12 31 78.3 74.5 2013 2014 2015 12 31 2013 2014 2015 12 31 2013 2014 2015 12 31 4,261 5,296 5,284 2013 2014 2015 12 31 590.6 610.6 610.6 II-7
28 29 2015 12 31 2016 4 22 100% 1978 1 1 LNG LPG 2015 12 24 100% 6,000,000 III-1
600,000 60% 20,000,000 70% 1,165,302,619 100% 1,310,574 57.50% 107,110,256 100% 2015 12 31 2015 12 31 2015 12 31 2015 12 31 III-2
2015 12 31 2015 12 31 2015 12 31 3.340 2013 2014 2015 12 31 III-3
A. 12 31 2013 2014 2015 8 3,607,713 4,126,547 4,820,387 (4,181,124) (4,173,438) (3,718,447) (573,411) (46,891) 1,101,940 9 47,397 234,654 253,973 10 (19,428) (114,031) (167,268) (5,387) (4,988) (228,269) (211,709) (235,691) (22,871) (33,245) (33,222) (801,969) (176,210) 919,732 12 (251,799) (263,780) (254,529) 118,872 122,042 151,254 (934,896) (317,948) 816,457 13 (9,682) (85,966) (8,319) 14 (944,578) (403,914) 808,138 (909,490) (373,173) 804,089 (35,088) (30,741) 4,049 (944,578) (403,914) 808,138 III-4
B. 12 31 2013 2014 2015 (944,578) (403,914) 808,138 (7,395) (130) 69,357 (951,973) (404,044) 877,495 (916,885) (373,303) 873,446 (35,088) (30,741) 4,049 (951,973) (404,044) 877,495 III-5
C. 12 31 2013 2014 2015 17 10,110,214 10,248,025 11,229,430 18 42,501 41,334 81,977 19 109,013 103,871 7,265 21 878,536 1,200,230 1,785,102 22 55,700 55,700 127,808 23 97,742 247,143 162,516 31 61,235 54,056 5,332 11,354,941 11,950,359 13,399,430 24 648,989 768,216 771,256 25 318,429 256,717 132,658 6,700 61,134 112,402 26 207,344 157,788 45,731 26 2,062,709 1,997,851 2,777,358 3,244,171 3,241,706 3,839,405 27 1,349,781 1,222,166 949,179 28 97,381 153,001 134,284 29 1,747,967 1,515,354 2,859,455 2,470 68 1,743 30 32,243 18,578 3,750 3,229,842 2,909,167 3,948,411 14,329 332,539 (109,006) 11,369,270 12,282,898 13,290,424 III-6
12 31 2013 2014 2015 28 23,362 19,126 15,327 247 167 87 29 7,832,969 8,530,663 6,958,542 31 1,737 80,321 74,550 34 132,330 7,858,315 8,630,277 7,180,836 3,510,955 3,652,621 6,109,588 32 6,643,515 7,189,225 6,378,153 33 (2,941,229) (3,314,532) (305,442) 3,702,286 3,874,693 6,072,711 (191,331) (222,072) 36,877 3,510,955 3,652,621 6,109,588 III-7
D. 12 31 2013 2014 2015 17 5,013,086 4,106,917 5,001,715 18 42,133 40,975 81,629 19 30,669 29,395 7,265 20 531,166 1,646,230 1,920,833 21 878,536 1,200,230 1,785,102 22 55,700 55,700 127,808 23 53,764 11,563 32,027 31 24,349 18,707 5,269 6,629,403 7,109,717 8,961,648 24 1,391,908 1,565,112 842,773 25 143,205 116,853 85,775 2,661 59,816 110,383 26 206,225 156,669 45,731 26 1,765,763 1,120,277 1,855,478 3,509,762 3,018,727 2,940,140 27 880,577 802,073 1,527,734 28 87,681 118,546 126,155 29 826,929 780,239 2,233,997 30 32,243 18,578 3,750 1,827,430 1,719,436 3,891,636 1,682,332 1,299,291 (951,496) 8,311,735 8,409,008 8,010,152 III-8
12 31 2013 2014 2015 28 23,362 19,126 15,327 247 167 87 29 2,963,764 3,061,192 1,693,042 34 132,330 2,987,373 3,080,485 1,840,786 5,324,362 5,328,523 6,169,366 32 6,643,515 7,189,225 6,378,153 33 (1,319,153) (1,860,702) (208,787) 5,324,362 5,328,523 6,169,366 III-9
E. 2013 1 1 6,643,515 4,296 624,216 (86,680) (2,566,176) 4,619,171 (156,243) 4,462,928 (7,395) (909,490) (916,885) (35,088) (951,973) 2013 12 31 2014 1 1 6,643,515 4,296 624,216 (94,075) (3,475,666) 3,702,286 (191,331) 3,510,955 (130) (373,173) (373,303) (30,741) (404,044) 32 545,710 545,710 545,710 2014 12 31 2015 1 1 7,189,225 4,296 624,216 (94,205) (3,848,839) 3,874,693 (222,072) 3,652,621 69,357 804,089 873,446 4,049 877,495 32 224,390 224,390 224,390 34 (127,697) (127,697) (127,697) (4,296) (518,403) 522,699 37 199,845 199,845 254,900 454,745 38 1,028,034 1,028,034 1,028,034 32 (1,035,462) (1,101,664) (105,813) 2,242,939 2015 12 31 6,378,153 (73,630) (24,848) (206,964) 6,072,711 36,877 6,109,588 III-10
F. 12 31 2013 2014 2015 (934,896) (317,948) 816,457 251,799 263,780 254,529 (118,872) (122,042) (151,254) (8,149) (8,290) (22,465) (26,419) (31,126) (21,174) 599,572 574,801 557,136 1,167 1,167 1,470 (2,608) (508) (21,207) 72,289 89,544 69,121 47,058 97,803 2,721 225 1,175 (17,144) (13,664) (14,828) 15,058 30,893 15,757 (50,888) 7,541 117,250 (216,370) 521,431 1,699,770 (9,205) (173,885) (61,079) 15,473 61,712 97,685 317,307 (125,122) (42,259) 107,205 284,136 1,694,117 (2,668) (852) (580) 104,537 283,284 1,693,537 III-11
12 31 2013 2014 2015 (398,929) (782,804) (1,756,032) (97,685) (149,401) 38,912 72,568 2,853 214,620 (20,448) (293,027) (37,157) 124,805 94,832 124,967 26,419 31,126 21,174 (21,704) 49,556 112,057 8,149 8,290 22,465 (306,825) (1,038,575) (1,258,994) 37 (67,381) 3,560,394 2,009,338 3,106,164 (15,058) (30,893) (15,757) 545,710 224,390 (2,806,542) (1,643,431) (2,793,451) (251,799) (264,406) (260,643) 486,995 616,318 193,322 284,707 (138,973) 627,865 54,424 74,115 151,642 1,723,578 2,062,709 1,997,851 2,062,709 1,997,851 2,777,358 III-12
G. 1. 1978 1 1 2015 12 24 6 B LNG LPG 20 2013 2014 2015 12 31 2. 622 3. 27 2016 12 1 27 III-13
27 2015 1 1 9 1 15 1 1 2 2012 2014 2 1 2018 1 1 2 2016 1 1 4. 5 (a) 12 31 III-14
(i) (ii) (b) III-15
(i) (ii) III-16
(c) (i) (ii) (iii) III-17
(d) 20 30 5 3 10 3 10 5 10 (e) III-18
30 (f) (g) III-19
(h) (i) (j) (i) III-20
(ii) (iii) (k) (l) III-21
(m) (i) 12 (ii) (iii) (iv) (n) III-22
(o) (i) (ii) III-23
(iii) (p) (q) (r) III-24
(s) (A) (i) (ii) (iii) III-25
(B) (i) (ii) (iii) (iv) (v) (vi) (A) (vii) (A)(i) (t) (u) III-26
(v) (w) III-27
5. (a) 2013 2014 2015 12 31 10,110,214,000 10,248,025,000 11,229,430,000 (b) 2013 2014 2015 12 31 9,682,000 85,966,000 8,319,000 (c) III-28
2013 2014 2015 12 31 61,645,000 61,870,000 4,420,000 (d) 2014 2015 12 31 46,974,000 73,685,000 (e) 2015 12 31 132,330,000 6. (a) III-29
+3% -3% 2013 12 31 235,703 (235,703) 2014 12 31 249,831 (249,831) 2015 12 31 238,350 (238,350) +3% -3% 2013 12 31 171,531 (171,531) 2014 12 31 160,963 (160,963) 2015 12 31 104,602 (104,602) III-30
(b) (c) 2013 12 31 1,325,789 1,325,789 97,381 23,362 120,743 1,806,772 977,213 4,624,548 3,228,456 10,636,989 2014 12 31 1,190,291 1,190,291 106,027 19,126 125,153 1,783,468 3,635,677 3,149,835 2,440,758 11,009,738 2015 12 31 687,397 687,397 60,599 15,327 75,926 3,159,816 1,755,912 3,329,191 2,793,989 11,038,908 III-31
2013 12 31 863,329 863,329 87,681 23,362 111,043 910,403 273,778 2,811,480 3,995,661 2014 12 31 783,682 783,682 94,435 19,126 113,561 873,596 2,698,689 420,477 40,203 4,032,965 2015 12 31 1,420,322 1,420,322 52,470 15,327 67,797 2,378,281 334,050 931,856 934,162 4,578,349 2013 12 31 30,893 15,757 3,750 50,400 2014 12 31 15,757 3,750 19,507 2015 12 31 3,750 3,750 III-32
(d) 12 31 2013 2014 2015 1,105,346 635,322 1,234,386 620,000 570,000 773,490 12 31 2013 2014 2015 1,038,322 605,322 1,018,988 620,000 570,000 400,000 12 31 2013 2014 2015 1,164,358 1,520,017 1,588,662 8,960,936 9,476,017 9,044,507 III-33
12 31 2013 2014 2015 933,633 671,605 882,187 3,170,693 3,271,431 3,527,039 +100 bps100 +100-100 2013 12 31 (77,966) 77,966 2014 12 31 (79,560) 79,560 2015 12 31 (74,558) 74,558 +100-100 2013 12 31 (22,371) 22,371 2014 12 31 (25,998) 25,998 2015 12 31 (26,449) 26,449 III-34
(e) 2013 2014 2015 12 31 12 31 2013 2014 2015 2,828,389 2,805,613 3,448,786 55,700 55,700 127,808 32,243 18,578 3,750 11,027,469 11,361,461 10,581,320 12 31 2013 2014 2015 2,806,022 2,180,917 1,994,101 55,700 55,700 127,808 32,243 18,578 3,750 4,765,066 4,738,855 2,438,919 (f) III-35
7. 1 2 1 3 (a) 2013 12 31 2 32,243 32,243 III-36
2014 12 31 2 18,578 18,578 2015 12 31 2 3,750 3,750 (b) 3 2 12 31 2013 2014 2015 32,243 18,578 3,750 III-37
8. 2013 2014 2015 12 31 12 31 2013 2014 2015 3,456,366 4,007,635 4,797,749 135,485 100,335 15,862 18,577 22,638 3,607,713 4,126,547 4,820,387 9. 12 31 2013 2014 2015 26,419 31,126 21,174 8,149 8,290 22,465 10,335 192,696 197,696 2,494 2,542 12,638 47,397 234,654 253,973 2013 12 31 10,000,000 2014 12 31 2015 12 31 190,350,000 197,580,000 III-38
10. 12 31 2013 2014 2015 50,888 (7,541) (117,250) (2,721) (225) (1,175) 17,144 13,664 14,828 (15,058) (30,893) (15,757) 2,608 508 21,207 (72,289) (89,544) (69,121) (19,428) (114,031) (167,268) 11. III-39
2013 12 31 3,456,366 151,347 3,607,713 137,485 137,485 (780,484) (49,454) (829,938) 559,523 41,216 600,739 2013 12 31 13,313,952 986,394 14,300,346 1,426,769 747,134 2,173,903 2014 12 31 4,007,635 118,912 4,126,547 159,164 159,164 (263,293) (33,540) (296,833) 536,047 39,921 575,968 2014 12 31 13,692,054 941,939 14,633,993 1,348,271 842,745 2,191,016 2015 12 31 4,797,749 22,638 4,820,387 214,992 214,992 832,476 551 833,027 558,606 558,606 2015 12 31 15,193,520 9,873 15,203,393 1,073,879 1,416 1,075,295 III-40
2013 2014 2015 3,745,198 4,285,711 5,035,379 (137,485) (159,164) (214,992) 3,607,713 4,126,547 4,820,387 2013 2014 2015 (829,938) (296,833) 833,027 118,872 122,042 151,254 (251,799) (263,780) (254,529) 47,397 234,654 253,973 (19,428) (114,031) (167,268) (934,896) (317,948) 816,457 2013 2014 2015 14,300,346 14,633,993 15,203,393 (720,142) (816,102) 878,536 1,200,230 1,785,102 55,700 55,700 127,808 23,437 64,188 117,200 61,235 54,056 5,332 14,599,112 15,192,065 17,238,835 III-41
2013 2014 2015 2,173,903 2,191,016 1,075,295 (720,142) (816,102) 132,330 32,243 18,578 3,750 9,580,936 10,046,017 9,817,997 17,010 19,546 23,582 2,470 68 1,743 1,737 80,321 74,550 11,088,157 11,539,444 11,129,247 2013 2014 2015 2013 2014 2015 1,642,128 1,486,349 1,132,810 4,276,230 4,365,125 5,202,879 620,524 768,405 1,118,197 6,961,776 7,475,478 8,063,411 410,406 722,532 716,811 228,057 345,082 688,097 706,598 804,179 1,164,472 3,607,713 4,126,547 4,820,387 11,238,006 11,840,603 13,266,290 2013 2014 2015 a 1,346,282 1,390,021 1,108,236 2013 2014 2015 12 31 a 10% III-42
12. 12 31 2013 2014 2015 251,799 264,406 260,643 (626) (6,114) 251,799 263,780 254,529 2014 12 31 2015 12 31 0.2% 2.3% 13. 12 31 2013 2014 2015 1,517 214 2,248 (11) 4 1,517 203 2,252 31 8,165 85,763 6,067 9,682 85,966 8,319 2013 2014 2015 12 31 25% III-43
12 31 2013 2014 2015 (934,896) (317,948) 816,457 25% (233,724) (79,487) 204,114 (400,709) (453,809) (512,882) 430,530 432,387 353,202 44,502 50,896 17,890 169,083 135,990 (54,009) (11) 4 9,682 85,966 8,319 14. 12 31 2013 2014 2015 992 1,057 913 1,167 1,167 1,470 4,181,124 4,173,438 3,718,477 599,572 574,801 557,136 874,989 938,306 1,026,517 776 832 1,501 334,572 331,203 363,388 184,298 177,919 155,368 519,646 509,954 520,257 2,721 225 1,175 III-44
1,771,574,000 1,806,754,000 1,840,644,000 2013 2014 2015 12 31 15. 12 31 2013 2014 2015 335,248 331,928 364,780 184,398 178,026 155,477 519,646 509,954 520,257 1 2014 1 2013 1 16 4 2014 4 2013 4 12 31 2013 2014 2015 2,339 2,253 1,024 384 274 3,708 399 427 435 3,122 2,954 5,167 2013 2014 2015 1,000,000 2 4 1,000,001 1,500,000 2 3 1,500,001 2,000,000 1 4 4 4 III-45
16. 2013 297 379 100 776 2014 301 424 107 832 2015 301 1,091 109 1,501 (a) (b) III-46
17. (a) 2013 1 1 13,145,015 1,990,533 33,092 21,899 30,388 15,220,927 724 299 926 847 878 395,255 398,929 (829,305) (1,429) (1,039) (55) (10) (831,838) (37,205) (37,205) (168,301) (35) (1,276) (169,612) 2013 12 31 2014 1 1 12,148,133 1,952,198 32,944 22,691 31,256 393,979 14,581,201 684 405 1,543 1,804 428 778,566 783,430 (328,898) (35) (8,647) (1,083) (338,663) 517,239 (517,239) 19,721 5 (101) 19,625 2014 12 31 2015 1 1 12,356,879 1,952,568 25,845 23,412 31,684 655,205 15,045,593 1,595 685 345 1,521 330 1,757,670 1,762,146 (562,920) (81) (1,835) (2,803) (2,620) (570,259) 37,331 37,331 (7,454) (7,454) 2,033,595 (520) 2,837 (2,035,912) 37 (10,481) (1,560,551) (6,248) (93) (4,031) (1,581,404) 38 (1,542,800) (35,106) (7,842) (3,518) (9,486) 159,547 (1,439,205) 356,860 22 24,620 381,502 2015 12 31 12,632,728 387,392 9,767 21,356 15,877 561,130 13,628,250 III-47
2013 1 1 3,721,493 830,764 29,241 11,390 19,347 4,612,235 538,201 48,843 2,065 1,563 3,686 594,358 (693,460) (507) (1,039) (55) (10) (695,071) (5,263) (5,263) (35,240) (32) (35,272) 2013 12 31 2014 1 1 3,530,994 873,837 30,235 12,898 23,023 4,470,987 515,186 48,361 1,822 1,674 2,616 569,659 (237,010) (34) (8,647) (1,083) (246,774) 3,693 3 3,696 2014 12 31 2015 1 1 3,812,863 922,164 23,413 13,489 25,639 4,797,568 527,238 14,293 1,149 5,748 7,434 555,862 (300,783) (81) (1,777) (2,464) (2,620) (307,725) 9,084 9,084 (189) (189) (1,856) (520) 2,376 37 (10,381) (828,462) (5,897) (93) (2,099) (846,932) 38 (1,780,305) (87,264) (8,807) (7,575) (24,821) (1,908,772) 99,902 22 99,924 2015 12 31 2,346,678 29,545 7,583 11,481 3,533 2,398,820 2013 12 31 8,617,139 1,078,361 2,709 9,793 8,233 393,979 10,110,214 2014 12 31 8,544,016 1,030,404 2,432 9,923 6,045 655,205 10,248,025 2015 12 31 10,286,050 357,847 2,184 9,875 12,344 561,130 11,229,430 2013 2014 2015 12 31 5,296,741,000 4,756,933,000 4,566,853,000 III-48
(b) 2013 1 1 6,508,690 431,673 22,852 21,719 26,921 7,011,855 371,507 299 892 846 656 316,244 690,444 (370,933) (23) (902) (10) (371,868) (37,205) (37,205) 2013 12 31 2014 1 1 6,509,264 394,744 22,842 22,565 27,567 316,244 7,293,226 6,052 405 1,432 1,782 85 603,591 613,347 (1,704,877) (35) (5,926) (1,051) (1,711,889) 446,682 (446,682) 2014 12 31 2015 1 1 5,257,121 395,114 18,348 23,296 27,652 473,153 6,194,684 1,594 685 308 1,520 317 903,194 907,618 (562,920) (81) (723) (2,803) (2,620) (569,147) 37,331 37,331 (7,454) (7,454) 1,498,461 (520) 2,837 (1,500,778) 37 (4,032) (4,032) 38 (1,542,800) (35,106) (7,842) (3,518) (9,486) 159,547 (1,439,205) 2015 12 31 4,651,456 386,457 9,571 21,332 15,863 35,116 5,119,795 2013 1 1 1,865,608 74,524 20,275 11,235 17,976 1,989,618 516,164 13,575 1,525 1,542 3,330 536,136 (239,419) (20) (902) (10) (240,351) (5,263) (5,263) 2013 12 31 2014 1 1 2,142,353 82,816 20,898 12,777 21,296 2,280,140 261,932 13,104 1,314 1,669 2,243 280,262 (465,624) (34) (5,926) (1,051) (472,635) 2014 12 31 2015 1 1 1,938,661 95,886 16,286 13,395 23,539 2,087,767 211,164 14,267 1,119 5,748 7,432-239,730 (300,783) (81) (665) (2,464) (2,620) (306,613) 9,084 9,084 (189) (189) (1,856) (520) 2,376 37 (2,927) (2,927) 38 (1,780,305) (87,264) (8,807) (7,575) (24,821) (1,908,772) 2015 12 31 66,881 28,776 7,413 11,480 3,530 118,080 2013 12 31 4,366,911 311,928 1,944 9,788 6,271 316,244 5,013,086 2014 12 31 3,318,460 299,228 2,062 9,901 4,113 473,153 4,106,917 2015 12 31 4,584,575 357,681 2,158 9,852 12,333 35,116 5,001,715 III-49
18. (a) 2013 2014 2015 1 1 43,668 42,501 41,334 (1,167) (1,167) (1,470) 38 42,113 12 31 42,501 41,334 81,977 (b) 2013 2014 2015 1 1 43,290 42,133 40,975 (1,157) (1,158) (1,459) 38 42,113 12 31 42,133 40,975 81,629 III-50
19. (a) 2013 2014 2015 1 1 174,939 200,219 200,219 (11,925) 37,205 7,454 (37,331) 37 (163,014) 38 126 12 31 200,219 200,219 7,454 1 1 87,172 91,206 96,348 5,214 5,142 1,274 (6,443) 5,263 189 (9,084) 37 (88,538) 12 31 91,206 96,348 189 109,013 103,871 7,265 2013 2014 2015 12 31 78,344,000 74,476,000 III-51
(b) 2013 2014 2015 1 1 37,205 37,205 37,205 7,454 (37,331) 38 126 12 31 37,205 37,205 7,454 1 1 6,536 7,810 1,273 1,274 1,274 5,263-189 (9,084) 12 31 6,536 7,810 189 30,669 29,395 7,265 III-52
20. 2013 2014 2015 12 31 2013 2014 2015 6,000,000 600,000 20,000,000 1,165,302,619 8,000,000 413,340,000 1,310,574 107,110,256 100% 100% 100% 60% 60% 60% 70% 70% 70% 100% 100% 100% 70% 70% 70% 70% 57.50% 57.50% 57.50% 100% 100% 100% 2013 2014 2015 12 31 153,385,000 111,171,000 261,790,000 III-53
NCI 2013 2014 2015 2013 2014 2015 2013 2014 2015 30%/30% 30%/30% -/- 30%/30% 30%/30% 30%/30% 30%/30% 30%/30% -/- 12 31 1,038,723 994,791 44,661 97,983 84,475 129 129 76,215 72,789 115,982 57,016 79,344 10,239 7,567 (1,050,160) (880,000) (46,000) (38,000) (30,000) (819,838) (1,043,385) (11,547) (12,443) (15,878) (990) (1,558) (755,060) (855,805) 103,096 104,556 117,941 9,378 6,138 (226,518) (256,742) 30,929 31,367 35,382 2,813 1,841 12 31 135,485 100,335 59,985 69,518 70,694 (8) (6) (117,186) (100,745) 3,754 1,460 13,386 (3,563) (3,240) (117,186) (100,745) 3,754 1,460 13,386 (3,563) (3,240) (35,156) (30,223) 1,126 438 4,016 (1,069) (972) 72,154 67,088 17,289 7,666 27,044 (3,215) (2,172) (4,481) (4,426) 12,787 (63,390) 49,354 (3,215) (2,172) III-54
21. 2013 2014 2015 878,536 1,200,230 1,785,102 2013 2014 2015 12 31 2013 2014 2015 238,772,000 294,701,160 20,000,000 50% 50% 50% 50% 50% 50% 43% 43% 43% III-55
2013 2014 2015 50% 50% 50% 12 31 6,010,164 6,422,945 6,886,232 1,041,396 1,029,883 760,168 (4,701,871) (4,499,606) (4,529,619) (199,059) (177,387) (220,325) (860,366) (876,051) (792,508) 1,290,264 1,899,784 2,103,948 645,132 949,892 1,051,974 477,105 645,132 949,892 1,529,079 12 31 975,387 928,399 962,524 212,400 210,847 213,700 1,769 478 623 126,605 118,706 117,856 181 295 203 311,938 313,514 329,815 (44,367) 2,914 116,625 267,571 316,428 446,440 110,488 80,775 89,351 III-56
2013 2014 2015 12 31 233,404 250,338 256,023 12 31 51,357 59,129 110,550 51,357 59,129 110,550 2013 2014 2015 12 31 7,751,000 8,819,000 16,484,000 2013 2014 2015 12 31 350,973,000 418,010,000 322,426,000 22. 12 31 2013 2014 2015 55,700 55,700 127,808 III-57
23. (a) 12 31 2013 2014 2015 43,840 45,587 53,764 201,427 162,516 138 129 97,742 247,143 162,516 (b) 12 31 2013 2014 2015 53,764 11,563 32,027 24. (a) 12 31 2013 2014 2015 i 9,663 13,148 i 423,516 516,593 506,889 ii 208,736 238,906 246,420 15,511 1,828 3,573 1,226 1,226 1,226 648,989 768,216 771,256 III-58
(i) 2013 2014 2015 12 31 12 31 2013 2014 2015 421,581 524,888 504,300 1,429 844 14,325 506 524 1,412 423,516 526,256 520,037 2013 2014 2015 12 31 2,996,000 3,221,000 4,363,000 12 31 2013 2014 2015 1 1 573 2,996 3,221 2,721 225 1,175 (298) (33) 12 31 2,996 3,221 4,363 2013 2014 2015 12 31 (ii) 12 31 2013 2014 2015 90,653 118,241 145,559 (iii) 118,083 120,665 100,861 208,736 238,906 246,420 III-59
(iii) 2013 2014 2015 12 31 118,083,000 120,665,000 100,861,000 2013 2014 2015 12 31 58,649,000 58,649,000 57,000 12 31 2013 2014 2015 1 1 58,649 58,649 58,649 (58,592) 12 31 58,649 58,649 57 (b) 12 31 2013 2014 2015 i 550 i 499,486 602,154 692,643 ii 868,308 959,975 145,124 15,215 1,757 3,230 8,899 1,226 1,226 1,391,908 1,565,112 842,773 (i) 2013 2014 2015 12 31 294,381,000 376,515,000 475,816,000 2013 2014 2015 12 31 12 31 2013 2014 2015 256,253 295,429 267,282 53,447 54,188 63,119 189,786 252,537 362,792 III-60 499,486 602,154 693,193
2013 2014 2015 12 31 192,000 3,155,000 4,055,000 12 31 2013 2014 2015 1 1 223 192 3,155 2,963 900 (31) 12 31 192 3,155 4,055 2013 2014 2015 12 31 (ii) 12 31 2013 2014 2015 59,766 61,017 60,761 iii 808,542 898,958 84,363 868,308 959,975 145,124 (iii) 2013 2014 2015 12 31 724,868,000 816,474,000 328,000 2013 2014 2015 12 31 808,542,000 898,958,000 84,363,000 2013 2014 2015 12 31 30,747,000 30,747,000 57,000 12 31 2013 2014 2015 1 1 30,747 30,747 30,747 (30,690) 12 31 30,747 30,747 57 III-61
25. 12 31 2013 2014 2015 301,496 238,330 118,936 4,765 4,875 12,116 13,461 13,662 52 51 60 318,429 256,717 132,658 12 31 2013 2014 2015 133,396 105,581 73,048 9,757 11,221 12,667 52 51 60 143,205 116,853 85,775 26. 2013 2014 2015 12 31 1,284,211,000 980,416,000 1,355,040,000 2013 2014 2015 12 31 207,344,000 157,788,000 45,731,000 29 III-62