Teekay Tankers Ltd. · NYSE:TNK
Teekay Tankers — Q4 2007 Earnings Presentation
9 slides from Teekay Tankers's earnings presentation, Feb 28, 2008
Slide 1: Fourth Quarter 2007 Earnings Presentation
T E E K A Y T A N K E R S L T D. Fourth Quarter 2007 Earnings Presentation February 28, 2008 www.teekaytankers.com
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current views with respect to certain future events and performance, including statements regarding: the Company’
Slide 3: Fourth Quarter Highlights
Fourth Quarter Highlights f Successfully completed the IPO on Dec. 18, 2007 at a share price of $19.50 f Generated Cash Available for Distribution of $2.87m f Declared a cash dividend of $0.115 for the same period 3 www.teekaytankers.com
Slide 4: Our Business Strategy
Our Business Strategy f Tactically manage our mix of spot and charter contracts f Maximize cash flow by participating in the Teekay Pool f Expand our fleet through accretive acquisitions Objective: Objective: To To Maximize Maximize Dividends Dividends Per Per Share Share 4 www.teekaytankers.com
Slide 5: Teekay Will Opportunistically Manage Fleet Mix
Teekay Will Opportunistically Manage Fleet Mix Name Y/ Built Dwt Kareela Spirit 1999 113,100 44% of the fleet Kyeema Spirit 1999 113,300 operating in the Nassau Spirit 1999 107,100 spot market through the Teekay Pool Sotra Spirit 1995 95,400 Erik Spirit 2005 115,500 $28,750 Matterhorn Spirit 2005 11
Slide 6: Charter Strategy Optimizes Dividend Payout
Charter Strategy Optimizes Dividend Payout Teekay Tankers Combines Low Breakeven and Significant Upside $4.50 Aframax Spot Rate Dividend per Share Yield at $18.23* $20,000 $1.55 8.5% $25,000 $1.90 10.4% $30,000 $2.25 12.3% $3.75 $35,000 $2.60 14.3% $40,000 $2.95 16.2% $3.00 Dividend Per Share $2.25
Slide 7: Significant Growth Opportunities
Significant Growth Opportunities f Over 1,500 crude oil 3rd party tankers in the world acquisitions f Over 450 product tankers in the world S E ND ID Teekay owns f 6 Aframaxes V DI 35 other f 3 Suezmaxes NG tankers SI f 15 Product tankers EA suitable for CR TNK to acquire f 11 Newbuilds IN 4 f To be
Slide 8: 2008 Tanker Demand Fundamentals Remain Positive
2008 Tanker Demand Fundamentals Remain Positive f IMF estimates 4.1% global GDP growth for 2008 f Growth expected to be led by energy-intensive developing countries f IEA estimates global oil demand growth of 1.7 mb/d (1.9%) in 2008 f 1.4 mb/d growth from non-OECD countries f Non-OPEC supply estimat
Slide 9: 2008 Tanker Supply – Removals Expected to Dampen Growth
2008 Tanker Supply – Removals Expected to Dampen Growth (number of vessels) End 2007 Fleet 2008 Deliveries Sold For Conversion* / Scrap Net Fleet Growth VLCC 502 39 26 13 (3%) Suezmax 314 21 12 9 (3%) Aframax 726 75 40 35 (5%) Source : CRS / Industry Sources (*Includes tankers sold for conversion an