Market and Trading Update



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Transcription:

Market and Trading Update 21 November 2014 www.epic gas.com

Forward looking statements This presentation contains certain statements that may be deemed to be forward looking statements within the meaning of applicable securities laws. Most forward lookingstatementscontainwordsthatidentifythemasforwardlooking, such as may, plan, seek, will, expect, intend, estimate, anticipate, believe, project, opportunity, target, goal, growing and continue or other words that relate to future events, as opposed to past or current events. All statements, other than statements of historical facts, that address activities, events or developments that Epic Gas Ltd. ( Epic Gas, Epic or the Company ) expects, projects, believes or anticipates will or may occur in the future, including, without limitation, acquisitions of vessels, the outlook for fleet utilization and shipping rates, general industry conditions, future operating results of the Company s vessels, capital expenditures, expansion and growth opportunities, business strategy, ability to pay dividends and other such matters, are forward looking statements. Although the Company believes that its expectations stated in this presentation are based on reasonable assumptions, actual results may differ any expectations or goals expressed in, or implied by, the forward looking statements included in this presentation, possibly to a material degree. Epic Gas cannot assure you that the assumptions made in preparing any of the forward looking statements will prove accurate or that any long term financial goals will be realized. All forward looking statements included in this presentation speak only as of the date made, and Epic Gas undertakes no obligation to update or revise publicly any such forward looking statements, whether as a result of new information, future events, or otherwise. In particular, Epic Gas cautions you not to place undue weight on certain forward looking statements pertaining to potential growth opportunities orlong term financial goals set forth herein. 2

Trading update: vessel locations as of 18 November 2014 Americas : 2 ships 2 x 7,500 EMEA : 20 ships 2 x 9,500 : 8 x 7,500 : 6 x 5,000 : 4 x 3,500 Asia : 14 ships 4 x 5,000 : 10 x 3,500 3 A TRULY GLOBAL COMPANY 3,500cbm : 5,000cbm : 7,500cbm : +9,500cbm

Where we trade and what we carry: YTD 2014 Load and Discharge Operations 87 Distinct Load Ports : 132 Distinct Discharge Ports 1.4mm Tons of Cargo Carried Year to Date 76% LPG : 6% C3/Propylene : 7% C4s : 0% C5 : 11% VCM Region Load Operations Discharge Operations Total Africa 43 69 112 Asia 289 335 624 Europe 201 196 397 Middle East 10 6 16 Oceania 43 54 97 The Americas 62 81 143 Total 648 741 1,389 1,600,000 1,400,000 1,200,000 1,000,000 800,000 1,405,901 153,642 97,196 85,704 C5, 2,201 Grand Total VCM C5 C4 BD 4 YTD Load Activity by Vessel Size Tons of Product Loaded Load Tons per Vessel Size LPG Petchems Total Operations Parcel 3,300 4,100 cbm 313,694 158,712 472,406 300 1,575 5,000 6,300 cbm 331,687 165,462 497,149 213 2,334 7,200 7,500 cbm 407,809 14,569 422,379 132 3,200 9,500 cbm 13,967 13,967 3 4,656 Total 1,067,158 338,743 1,405,901 648 2,170 600,000 400,000 200,000 1,067,158 Tons Loaded C3 PPL LPG

Growing Seaborne LPG Trade Source: Facts Global Energy Seaborne LPG Shipped by Region Millions of Tons 80.0 70.0 60.0 50.0 40.0 30.0 20.0 10.0 73.3 69.2 64.2 60.3 62.0 55.3 57.1 7.8% 5.6% 5.9% 23.6 25.3 24.0 29.6 33.7 37.3 24.3 3.3% 3.5% 2.8% 31.0 33.1 36.7 36.7 34.6 35.5 36.0 2009 2010 2011 2012 2013 2014 2015 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Year over Year % Change in Global Seaborne Tons East West Global Global YoY Δ 5

Deliveries of Pressurized Tonnage Source: Clarksons, Steensland and Company research 200,000 Historical and Projected Capacity Deliveries and Net Fleet Growth Pressurized Vessels > 3,000 cbm 50.0% 180,000 165,900 45.0% 160,000 140,000 120,000 116,056 143,156 137,900 124,505 40.0% 35.0% 30.0% 100,000 80,000 90,088 93,304 89,843 86,253 88,632 83,219 74,033 95,200 25.0% 20.0% 60,000 40,000 20,000 0 31,488 27,045 20,356 13,815 8,165 11,449 4,011 51,274 16,550 13,041 48,580 40,120 26,286 44,882 54,573 37,808 7,204 58,820 15.0% 10.0% 11,000 5.0% 0.0% 1984 1985 1986 1987 1988 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 2014 2015 2016 2017 3,000 5,999 cbm 6,000 8,999 cbm 9,000 11,999 cbm Total YoY CBM Growth 6

Pressurized market TC rates Source: Broker reports $450,000 Historical Monthly TC Rates for Pressurized Vessels $400,000 $350,000 $300,000 $250,000 $200,000 7,500 cbm 5,000 cbm 3,500 cbm 3,500cbm West vs. East Rates 15 year Average: 106% November 2014: 113% 5,000cbm West vs. East Rates 15 year Average: 106% November 2014: 120% $150,000 Jan 10 May 10 Sep 10 Jan 11 May 11 Sep 11 Jan 12 May 12 Sep 12 Jan 13 May 13 Sep 13 Jan 14 May 14 Sep 14 7

Global pressurized fleet Source: Company research +3,000cbm Pressure Fleet as of 31 December 2014 Global Fleet Epic Gas Ltd. EPIC as Vessels CBM % Vessels CBM % % of Global 3,000 4,999cbm 177 630,369 44% 14 51,600 27% 8% 5,000 6,999cbm 75 393,211 27% 10 51,300 26% 13% 7,000 8,999cbm 31 226,932 16% 10 72,600 37% 32% +9,000cbm 18 186,481 13% 2 19,000 10% 10% Total 301 1,436,993 100% 36 194,500 100% 14% Avg. Vessel Size 4,774 5,403 Orderbook as of 31 December 2014 Global Fleet Epic Gas Ltd. EPIC as Vessels CBM % Vessels CBM % % of Global 3,000 4,999cbm 11 38,700 14% 0% 0% 5,000 6,999cbm 10 50,000 18% 2 10,000 10% 20% 7,000 8,999cbm 10 73,400 27% 3 22,500 23% 31% +9,000cbm 10 110,000 40% 6 66,000 67% 60% Total 41 272,100 100% 11 98,500 100% 36% % of Fleet 14% 19% 31% 51% Avg. Vessel Size 6,637 8,955 8 Pressure Fleet as of FY2017 Assumes Zero Scrapping on Global Fleet. Assumes Zero S&P Activity by Epic Gas Ltd. Global Fleet Epic Gas Ltd. EPIC as Vessels CBM % Vessels CBM % % of Global 3,000 4,999cbm 188 669,069 39% 14 51,600 18% 8% 5,000 6,999cbm 85 443,211 26% 12 61,300 21% 14% 7,000 8,999cbm 41 300,332 18% 13 95,100 32% 32% +9,000cbm 28 296,481 17% 8 85,000 29% 29% Total 342 1,709,093 100% 47 293,000 100% 17% Avg. Vessel Size 4,997 6,234

Pressurized orderbook by delivery year Source: Company research Industry Orderbook Epic Gas Orderbook 2014 2015 2016 2017 Total % 2014 2015 2016 2017 Total % 3,000 4,999cbm 15 10 1 26 38% 3,000 4,999cbm 2 2 12% 5,000 6,999cbm 6 8 2 16 23% 5,000 6,999cbm 2 2 4 24% 7,000 8,999cbm 6 5 5 16 23% 7,000 8,999cbm 2 3 5 29% +9,000cbm 1 5 4 1 11 16% +9,000cbm 1 4 1 6 35% Total Vessels 28 28 12 1 69 100% Total Vessels 6 3 7 1 17 100% Industry CBM Delivered Epic Gas CBM Delivered 3,000 4,999cbm 53,800 34,700 4,000 92,500 23% 3,000 4,999cbm 7,000 7,000 5% 5,000 6,999cbm 30,000 40,000 10,000 80,000 20% 5,000 6,999cbm 10,000 10,000 20,000 15% 7,000 8,999cbm 43,100 36,200 37,200 116,500 28% 7,000 8,999cbm 14,400 22,500 36,900 28% +9,000cbm 11,000 55,000 44,000 11,000 121,000 30% +9,000cbm 11,000 44,000 11,000 66,000 51% Total 137,900 165,900 95,200 11,000 410,000 100% Total 31,400 21,000 66,500 11,000 129,900 100% Avg. Vessel Size (CBM) 4,925 5,925 7,933 11,000 5,942 Avg. Vessel Size (CBM) 5,233 7,000 9,500 11,000 7,641 Industry Fleet (CBM) 1,436,993 1,602,893 1,698,093 1,709,093 Epic Gas Fleet (CBM) 194,500 215,500 282,000 293,000 Epic Gas Fleet as % of Industry 14% 13% 17% 17% 9

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