Slide 1: 2nd Quarter 2013 Results
2nd Quarter 2013 Results August 20th , 2013 CONSISTENCY & GREAT VALUE
Slide 2: Disclaimer
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: Business Strategy
Business Strategy Fully-Pressurized LPG Fleet Market Share1 Built-In Growth + $110.5mil free cash + 60-70% leverage + $28mil loan proceeds = $375mil for investments Current Fleet: 36 LPG Vessels Targeted Fleet: ~50-55 LPG Vessels Leading owner of Handysize LPG vessels Maintain a modern fleet. Averag
Slide 4: Fleet Development
Fleet Development Contracted 9 LPG vessels ( 3 secondhand delivered and 6 newbuildings) Investments in modern vessels and newbuilding LPG carriers 3
Slide 5: 2013 Q2 Income Statement
2013 Q2 Income Statement In US$ 000, except per share Q2 2012 Q2 2013 6M 2012 6M 2013 amounts Net Revenues $29,148 $30,264 $58,271 $59,711 Voyage Costs 2,708 4,617 5,300 8,088 Running Costs 7,493 8,700 15,159 16,662 Operating Income 9,880 6,872 19,999 15,296 Net Income 7,186 5,080 14,565 11,539 Net
Slide 6: Balance Sheet
Balance Sheet December 31, June 30, 2012 2013 Cash and Cash Equivalents incl. restricted 50,913,655 118,461,389 Advances for vessels under construction 19,321,045 19,534,961 Total Assets 713,039,031 814,407,103 Current portion of long term debt 35,787,544 47,428,884 Long Term Debt 309,564,768 279,70
Slide 7: 2013 Q2 Operating Highlights
2013 Q2 Operating Highlights Fleet Data Q2 2012 Q2 2013 6M 2012 6M 2013 Average number of vessels in fleet 36.5 38.1 36.7 37.6 Period end number of vessels in fleet 37 40 37 40 Total calendar days for fleet 3,319 3,470 6,686 6,800 Total voyage days for fleet 3,288 3,404 6,553 6,711 Fleet utilization
Slide 8: Fleet Employment Profile
Fleet Employment Profile $180 million in secured revenues 7
Slide 9: LPG Shipping is a Resilient and Growing Sector
LPG Shipping is a Resilient and Growing Sector Seaborne Trade in LPG and Petrochemicals (Metric Tons in Millions) (YoY % Growth) LPG Petrochemicals YoY Growth 120 107.1 22.0% 4.5% 10-Yr. CAGR 102.3 95.5 100 90.4 14.0 86.8 14.1 17.0% 75.9 79.2 13.6 74.1 75.6 13.3 93.1 80 69.7 71.0 13.2 88.3 10.7 12.1
Slide 10: LPG Trade Historically Driven by Middle East Exports to Asia
LPG Trade Historically Driven by Middle East Exports to Asia U.S. LPG Trade: International Prices Support Exports LPG produced in the U.S. is the cheapest in the world due to surging production LPG needs to be shipped due to limited domestic demand, high storage cost and the Kyoto Protocol’s prohibi
Slide 11: U.S. Shale Gas is a Game Changer
U.S. Shale Gas is a Game Changer Demand for U.S. Exports Continues to Increase U.S. LPG Export Growth (Metric Tons in Millions) Europe Asia Latin America 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 2010 2011 2012 2013 2014 2015 2016 U.S. LPG Trade Overview of LPG Trade Dynamics U.S. LPG exports are forecaste
Slide 12: Limited LPG Fleet Growth Has Led to Greater Charter Rate Stability
Limited LPG Fleet Growth Has Led to Greater Charter Rate Stability Key Supply Dynamics Orderbook as % of Fleet1 The LPG space remains smaller than other shipping 35,0% segments with a negative fleet growth currently 29,9% 30,0% projected from 2013 onwards 25,0% More than 20% of the 3,000 – 8,000 cbm
Slide 13: Q&A
Q&A
Slide 14: Appendix - Indicative Ebitda calculator
Appendix - Indicative Ebitda calculator Fleet Data Q1-Q2 Q3-Q4 2013 2013 Contracted Gross revenues $59.7mil $49.5mil Spot Revenues N/A ? Commissions (Voyage Expenses) $1.5mil ? Other Voyage Expenses (Spot vessels) $6.4mil ? Total Days 6,800 7,360 Available Days 6,711 7,305 Spot Days N/A 1,287 Barebo
Slide 15: Contacts
Contacts Company Contact: Konstantinos Sistovaris Weekly LPG Market Report updated every Monday Chief Financial Officer StealthGas Inc. Comprehensive Investor Relations Information 011-30-210-6250-001 E-mail: info@stealthgas.com Visit our Website at: www.stealthgas.com 18