Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Pareto Securities' 31st annual Energy Conference (September 2024)
16 slides from Awilco Lng Asa's conference presentation, Sep 12, 2024
Slide 1: Pareto Securities' 31st annual Energy Conference
Pareto Securities’ 31st annual Energy Conference September 12, 2024 Jon Skule Storheill, CEO 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: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company was founded in 2011 and currently owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium term and spot market.
Slide 4: Performance first half 2024
Performance first half 2024 1H 2024 1H 2023 • Both vessels traded on high earning TC’s at an In USD millions, unless stated otherwise average rate of $120,500 per day until end of Freight income 44.9 42.8 second quarter Voyage related expenses 0.6 0.4 EBITDA 36.4 35.0 • WilPride fixed until December
Slide 5: Dividend
Dividend • The Company declared its first dividend in February 2023 • NOK 3.60 / USD 0.35 per share declared to date based on Q4/22 – Q2/24 results • Theoretical dividend capacity throughout 2026 with open days priced at: • USD 60,000 per day: USD 0.23 per share (Current spot rate) • USD 65,000 /per
Slide 6: Awilco LNG
Awilco LNG Fully integrated LNG transportation Well traded fleet provider ü In-house commercial operation 40 different charterers 100 terminals Established at startup in 2011 called Fixed in excess of 40 contracts from Mid-term ENEL Eni spot to mid-term clients ST Shipping Osaka Gas (1-3
Slide 7: Agenda September 12, 2024
Agenda September 12, 2024 1. Company 2. Market 3. Summary www.awilcolng.no -7-
Slide 8: Spot rates
Spot rates USD/DAY 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - 18 18 18 18 18 18 18 18 18 18 18 19 19 19 19 19 19 19 19 19 19 20 20 20 20 20 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 21 22 22 22 22 22 22 22 22 22 22 22 23 23 23 23 23 23 23 23 23 23 24 24 24 24 24 24 n- b- r- r- y- n-
Slide 9: Trainspotting – new LNG production
Trainspotting – new LNG production 16 700 14 MTPA LNG PROJECTS 650 MTPA 12 600 10 550 8 500 6 450 4 2 400 0 350 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • 2023 production 395 MT • ~ 295 MTPA new capacity currently under construction or in advanced planning • Qatar alone produced 71 MT
Slide 10: LNG fleet
LNG fleet • Existing LNGC fleet is roughly 690 vessels • 1/3 older steam • 1/3 D/TFDE • 1/3 2-stroke • 56 ships of original Qatar fleet is powered by conventional fuel (not gas) – likely to be phazed out early? • Size has increased steadily although 174’ seem to be the sweet spot • Qatar still order
Slide 11: Newbuilding deliveries by month
Newbuilding deliveries by month • Orderbook for large LNGC stands at 347 of which about 7% are unfixed • Contract prices softer • Interest rates comeing off • Long term charter rates softening – Little support for speculative ordering. • Yards have stretched capacity and delays to schedule will happ
Slide 12: Fuels for the future?
Fuels for the future? • LNG seen as a transitional fuel, but what are the alternatives? • Methanol – Ammonia • No large-scale production of any alternatives – green or grey • No existing distribution network, infrastructure nor existing technology in case of ammonia • Fossil free LNG • E-methane and
Slide 13: Agenda September 12, 2024
Agenda September 12, 2024 1.Company 2. Market 3.Summary www.awilcolng.no - 13 -
Slide 14: Summary
Summary Awilco LNG have had two very good years Paid NOK 3.60 per share dividend last 18 months Ships refinanced, reducing Cash BE with USD 9,000 per day per vessel Debt with floating interest -> -1% SOFR = USD 2,750 per day per vessel WilForce trading in the spot market while actively see
Slide 15: A Fully Integrated Pure Play LNG Transportation Provider
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: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 16 -
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