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Höegh LNG

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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Höegh LNG

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  1. 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

  2. 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

  3. 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

  4. 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

  5. HUAL

  6. HUAL operates a modern fleet of about 45 vessels • 24 owned deep-sea vessels Capacity 3500 - 6200 cars • 2 owned short-sea vessels Capacity 800 cars • 3 PCTC newbuildings, 2005 Capacity 6100 cars • 1 Ro/Ro newbuilding, 2004 (Airbus t/c)

  7. Europe - USEC Europe - Middle East Europe - Far East USEC - Middle East Far East - Europe 1988 One main trade

  8. 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

  9. Development in cargo composition 2002: 1 438 900 units 14% 22% 1990: 654 000 units 24% 8% 68% 64%

  10. 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

  11. 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

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

  13. * firm orders only Source: J.D.Power and R.S.Platou

  14. * firm orders only Source: J.D.Power and R.S.Platou

  15. Höegh LNG Höegh LNG

  16. 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

  17. LNG TRADE BY IMPORTING REGION Höegh LNG

  18. Natural Gas production (bcm) Höegh LNG Export World LNG vessel fleet Pacific fleet 93 vessels Atlantic fleet 35 vessels World fleet 128 vessels Orderbook 64 vessels Options 20 vessels

  19. 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: 0,3 1,0 0,6 0,4 2,3 High case: 1,3 2,5 1,1 1,5 6,4

  20. Other Sustainable development

  21. 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!

  22. 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

  23. Results Results

  24. Financial development EBITDA 1998 -2002

  25. Financial development NET PROFIT 1998 -2002

  26. Financial development CASHFLOW 1998 -2002

  27. Financial development TOTAL ASSETS - EQUITY RATIO 1998 -2002

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