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Leif Höegh & Co.ASA (LHC) presentation for Carnegie’s 1st Annual Nordic Shipping Seminar 7-8 April 2003 75 years in shipping. This is LHC Corporate strategy HUAL Höegh LNG Sustainable Development Results. Höegh LNG.

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H egh lng

Leif Höegh & Co.ASA (LHC)presentation forCarnegie’s 1st Annual Nordic Shipping Seminar7-8 April 200375 years in shipping

This is LHC

Corporate strategy

HUAL

Höegh LNG

Sustainable Development

Results

Höegh LNG

Business Development\Corp\Presentations\Analytikerpresentasjoner\Carnegie’s 1st Annual Nordic Shipping Seminar


This is lhc

This is LHC

  • Fleet

    • 53 owned vessels

  • Location

    • Head office in Oslo

    • Listed Oslo (OSE)

  • Employees

    • abt. 1900 sailors

    • abt. 400 ashore

  • Shareholders

    • Høegh family owns 66%

  • Market capitalisation

    • NOK 2 600 million

    • (USD 360 million)

  • Freight revenues 2002

    • USD 667 million

2002 EBITDA per activity


Corporate strategy changed from diversification to focus on fewer core segments

Corporate strategy

Tank

OBO

HUAL

Open Hatch

Höegh Lines

W.Africa

LPG

LNG

Bulk

Corporate strategy changed from diversification to focus on fewer core segments

Diversification

Focus

Growth

RORO

HUAL

RORO

Contract

Shipping

LNG/Bulk

LNG

Other

Other

Reefer / Open Hatch

Reefer / OH / Bulk

Past

Present


This is lhc1

Technical

26 PCTC

4 Newbuildings

3 T/C long term

Crewing

Project /

newbuildings

This is LHC

Fleet

Leif Höegh & Co. ASA

RoRo

Management

Finance

LNG

Portfolio Management

HUAL AS

HFS AS

HÖEGH LNG

4 LNG vessels

2 Newbuildings

BULK

Reefers

Open Hatch

2 x 211 000 dwt

dry bulk

on long term t/c

12 x reefers

in Lauritzen Cool

10 Open Hatch

in Saga Forest

Carriers


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HUAL


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HUAL operates a modern fleet of about 45 vessels

  • 24 owned deep-sea vesselsCapacity 3500 - 6200 cars

  • 2 owned short-sea vesselsCapacity 800 cars

  • 3 PCTC newbuildings, 2005Capacity 6100 cars

  • 1 Ro/Ro newbuilding, 2004(Airbus t/c)


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Europe - USEC

Europe -

Middle East

Europe -

Far East

USEC -

Middle East

Far East -

Europe

1988

One main trade


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2002

A Global trade system

USEC -

Europe

To North

America

Far East -

Caribbean/ USEC

Europe -

Middle East

Europe -

Far East

USEC -

Middle East

Europe -

Caribbean/US

Far East -

Europe

To South

America

(Ballast to FE)

Europe -

Africa

USEC -

Africa

Far East -

WC South America

Kiwi


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Development in cargo composition

2002: 1 438 900 units

14%

22%

1990: 654 000 units

24%

8%

68%

64%


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The Vehicle transportation supply chain

Sea transportation of vehicles is a link in a long chain of operations

and represents a small share of the price to the end user

Abt.USD 500 per CEU

Port in

Far East

Deep

sea

Port in

Europe

Vehicle

process.

Inland

transport.

Vehicle

process.

Info

process.

Info

process.

Inland

transport.

Port

storage

Deep

sea

Port

storage

Inspection

Load

Unload

Inspection


H egh lng

World vehicle production

(million units)

57 mill new light vehicles and 1,9 mill trucks

Seaborne vehicles, 2002

(deep sea)

10,6 mill units

Sea borne

new cars

New cars

Source: J.D.Power and R.S.Platou


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Source: J.D.Power and R.S.Platou


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* firm orders only

Source: J.D.Power and R.S.Platou


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* firm orders only

Source: J.D.Power and R.S.Platou


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Höegh LNG

Höegh LNG


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Höegh LNG

Höegh Gandria (125 000 m3) on t/c to Pertamina to 2006

Norman Lady (87 600 m3) on t/c to Enagas to 2012/2019

Höegh Galleon(87 600 m3) on t/c to Tractebel to 2017

Matthew(126 000 m3) on technical management for Tractebel

Snöhvit TBN (145 000 m3) t/c to SSG from 2005

Snöhvit TBN (145 000 m3) t/c to TotalFinaElf from 2006


Lng trade by importing region

LNG TRADE BY IMPORTING REGION

Höegh LNG


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Natural Gas production (bcm)

Höegh LNG

Export

World LNG vessel fleet

Pacific fleet93 vessels

Atlantic fleet35 vessels

World fleet128 vessels

Orderbook 64 vessels

Options20 vessels


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Snøhvit field

The Liquefied Natural Gas (LNG) supply chain

Sea transportation of LNG amounts to as much as 20 to 30 %

of the end user price.

(Source: BP Amoco - LNG chain costs 1998 based on last 10 years. Approximate

return 12%; on shipping 8%)

Höegh LNG

Production

Liquefaction

Sea transportation

Terminal

Total cost

US$/million Btu

Low case: 0,31,0 0,6 0,4 2,3

High case: 1,32,5 1,1 1,5 6,4


Other

Other

Sustainable development


Why is the matter of environmental protection important to a company like lhc

Why is the matter of environmental protection important to a company like LHC?

  • Idealistic reasons:

    • We all want to hand over a clean planet to the next generation

  • Business reasons:

    • Our customers want to make business with an environmentally friendly company

  • Regulatory reasons:

    • We are obliged to follow international rules and regulations (which are fairly well developed)

  • We can all make a difference!


Lhc is a member of the world business council for sustainable development wbcsd

LHC is a member of the World Business Council for Sustainable Development (WBCSD)

WBCSD is a coalition of 150 international companies united with

a commitment to provide business leadership as a catalyst for

change towards sustainable development


Results

Results

Results


Financial development

Financial development

EBITDA 1998 -2002


Financial development1

Financial development

NET PROFIT 1998 -2002


Financial development2

Financial development

CASHFLOW 1998 -2002


Financial development3

Financial development

TOTAL ASSETS - EQUITY RATIO 1998 -2002


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