Slide 1: 4th Quarter 2013 Results
4th Quarter 2013 Results February 20th , 2014
Slide 2: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of h
Slide 3: Stealthgas Top Handy LPG Owner
Stealthgas Top Handy LPG Owner Top LPG Owners Ranked by Number of Vessels Leading owner of Handysize LPG vessels Maintain a modern fleet. Average age of current LPG fleet 12 years and will come down to 10.2 after the new buildings will be delivered in 2015. Maintain moderate leverage with net debt t
Slide 4: Fleet Development
Fleet Development Current fleet of 38 LPG vessels, 3 product tankers and 1 aframax tanker Contracted 17 eco-type LPG vessels Investments in modern vessels and newbuilding LPG carriers 60 3 55 6 50 3 1 45 2 1 1 59 40 56 50 35 46 47 42 42 42 43 44 40 30 37 37 37 25 FY FY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 5: 2013 Q4 Income Statement
2013 Q4 Income Statement In US$ 000, except Q4 2012 Q4 2013 12M 2012 12M 2013 per share amounts Net Revenues $30,586 $32,033 $119,213 $121,482 Voyage Costs 3,855 3,319 12,703 14,302 Running Costs 7,734 10,009 30,592 36,523 Drydocking Costs 22 704 2,067 3,160 Operating Income 9,845 7,681 39,291 29,11
Slide 6: Balance Sheet
Balance Sheet December 31, December 31, 2012 2013 Cash and Cash Equivalents incl. restricted 42,273,000 86,218,517 Current Assets excl. cash 6,649,752 8,040,162 Advances for vessels under construction 19,321,045 70,577,435 Vessels, net 634,634,671 677,022,902 Other assets 1,519,908 3,199,349 Total A
Slide 7: 2013 Q4 Operating Highlights
2013 Q4 Operating Highlights Fleet Data Q4 2012 Q4 2013 12M 2012 12M 2013 Average number of vessels in fleet 37 42 36.9 39.4 Period end number of vessels in fleet 37 42 37 42 Total calendar days for fleet 3,404 3,864 13,494 14,399 Total voyage days for fleet 3,401 3,820 13,342 14,196 Fleet utilizati
Slide 8: Fleet Employment Profile
Fleet Employment Profile 39 vessels out of 42 on period charters to secure visible revenue stream $240 million in secured revenues 7 No Spot Vessels until end of February
Slide 9: Time Charter Rates Sensitivity Analysis
Time Charter Rates Sensitivity Analysis When Large Scale US projects materialize rates are set to Increase Adding to our fleet, 17 new eco LPG carriers, positions Stealthgas to capture the upside, affecting EBITDA positively LPG charter rates volatility history: $7,000 during the bottom of the cycle
Slide 10: What is LPG? StealthGas Seaborne Trade Model
What is LPG? StealthGas Seaborne Trade Model LPG is the World’s Most Multi-Purpose Energy: accessible, environmentally friendly, available supply, less expensive than other fuel sources Natural Gas (LNG) Production (~60%) StealthGas hub and spoke model Commercial/ 10% is LPG Residential (52%) Indust
Slide 11: U.S. Shale Gas - The Game Changer
U.S. Shale Gas - The Game Changer U.S. Net Exports of LPG 2013 -2017E • EIA projects that the U.S. will continue to be a net exporter of LPG through 2017, mainly because of continued increases in natural gas and oil production. Large Scale U.S. Export Projects Increase Average Sailing Distances Glob
Slide 12: Limited LPG Fleet Growth
Limited LPG Fleet Growth % Undersupplied Market Estimates (cb.m) 2 2 Our niche LPG shipping segments remains undersupplied Future deliveries will be absorbed by the LPG Seaborne demand in the market 11 Source: Clarkson Research Services Limited, IHS Global insight, Danish Ship Finance, Jefferies Est
Slide 13: Limited Handy LPG Fleet Growth
Limited Handy LPG Fleet Growth Age Profile Orderbook as % of Fleet 2 2 Our niche LPG shipping segments remains smaller than other sector More than 26% of the 1,000 – 12,999 cbm fleet is 26+ years old Small orderbook and strong demand dynamics support stable charter rates 12 Source: Banchero Costa, C
Slide 14: Limited LPG Fleet Growth Has Led to Greater Charter Rate Stability
Limited LPG Fleet Growth Has Led to Greater Charter Rate Stability LPG Timecharter Rates Historically Less Volatile ($ Thousands / Month) 5k CBM Pressurized (Trading East) Tanker Earnings Dry Bulk Earnings $2,500 $2,000 $1,500 $1,000 $500 $0 2 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13
Slide 15: Q&A
Q&A
Slide 16: Appendix – Listed Companies Comparables
Appendix – Listed Companies Comparables
Slide 17: Contacts
Contacts Company Contact: Weekly LPG Market Report updated every Monday Stavros Papantonopoulos Finance Manager StealthGas Inc. Comprehensive Investor Relations Information 011-30-210-6250-001 E-mail: info@stealthgas.com Visit our Website at: www.stealthgas.com