Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Pareto Conference 2017
16 slides from Awilco Lng Asa's conference presentation, Sep 13, 2017
Slide 1: Pareto Conference 2017
Pareto Conference 2017 Jon Skule Storheill 13/09 2017 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Agenda
Agenda 13/09 2017 1. Company Overview 2. Market update 3. Summary www.awilcolng.no -3-
Slide 4: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company owns two 2013 built TFDE LNG carriers, WilPride and WilForce, both currently trading in the spot market, achieving 80 % utilisation since delivery. Awilco LNG is fu
Slide 5: Refinancing leases and equity
Refinancing leases and equity Awilco LNG is fully financed to 2020 - renegotiated flexible lease agreement and new equity provides bridge to full market recovery ➢ Front loaded reduction in bareboat rate providing significantly lower cash breakeven, average of USD 33,500 per day, down from USD 49,10
Slide 6: Agenda
Agenda 13/09 2017 1. Company Overview 2. Market update 3. Summary www.awilcolng.no -6-
Slide 7: LNG rates
LNG rates USD/DAY 180 000 160 000 140 000 120 000 100 000 80 000 60 000 40 000 20 000 - Avg. Spot Rate 138-145k ST Avg. Spot Rate 155-165k TFDE Historic Ave. spot rate 138-145k ST Historic Ave. spot rate 155-165k TFDE • After a disappointing start of the 2017, activity and rates have improved throug
Slide 8: Monthly global LNG trade
Monthly global LNG trade MT LNG 27 25 23 21 19 17 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 2014 2015 2016 2017 (est) • Global LNG trade up by 14 % July YTD compared to same period last year • Increased volumes from ramp-up of plants started in 2016, in addition to new capacity co
Slide 9: Gas price
Gas price USD/MMBTU USD/BBL 26 160 24 140 22 20 120 18 16 100 14 80 12 10 60 8 6 40 4 20 2 0 0 HH NBP Spot DES Japan Brent (USD/BBL) • Europe – Far East arbitrage still closed leading to few re-loads • Spread Henry Hub vs ROW drives exports from US to Far East, improving ton-mile • Big 3 importers J
Slide 10: LNG trade change
LNG trade change LNG EXPORTS LNG IMPORTS YoY July 2017 YTD YoY July 2017 YTD MT LNG MT LNG 10 7 6 8 5 4 6 3 4 2 1 2 0 0 -1 -2 -2 • LNG exports increased by 14 % YoY • China imports up 45 % YTD, and the trend is likely to continue • Australian and US ramp-up is continuing the increasing trend, and wi
Slide 11: LNG production
LNG production MTPA LNG TRAINS UNDER CONSTRUCTION MTPA 10 120 9 100 8 7 80 6 5 60 4 40 3 2 20 1 0 0 Started 2017 2017 2018 2019 2020 Total • 109 MTPA of new capacity starting 2017-2020 • Additional 219 MTPA in pre-FID with specified timeline • Gorgon T3 and Sabine Pass T3 completed by the end of Q1,
Slide 12: LNG fleet and orderbook
LNG fleet and orderbook LNG FLEET AND ORDERBOOK NO. VESSELS TOTAL FLEET 50 600 45 500 40 35 400 30 25 300 20 200 15 10 100 5 0 0 1976 2017 1977 1978 1979 1980 1981 1983 1984 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2
Slide 13: Agenda
Agenda 13/09 2017 1. Company Overview 2. Market update 3. Summary www.awilcolng.no - 13 -
Slide 14: Summary
Summary ➢ Firming market, but still seasonal and volatile ─ Improvement in rates, activity and ballast bonuses, expected to continue firming going forward ─ As LNG production capacity increases, LNG is being commoditised and fleet overcapacity will gradually be absorbed ─ Big 3 China, Korea and Japa
Slide 15: Q&A A Fully Integrated Pure Play LNG Transportation Provider
Q&A A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 15 -
Slide 16: Jon Skule Storheill CEO
Jon Skule Storheill CEO Mobile: +47-9134 4356 E-mail: jss@awilcolng.no Øyvind Ryssdal CFO Mobile: +47-920 14 029 E-mail: or@awilcolng.no www.awilcolng.no - 16 -