on the Global LPG Market 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Introduction to Waterborne Energy * Founded in 1983 * Houston based * Global offices & Contributors * LPG & LNG shipping-related publications * Clients in 44 countries
2 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Our Core We track the global movements of the bluewater LPG fleet 3 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Isabella Kosan 8,000cbm 4 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Bastogne 35,223cbm 5 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. J enny N 60,000cbm 6 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Bu Sidra 82,000cbm 7 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. BW Kyoto 84,000cbm 8 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 9 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 10 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 11 3,270,800 3,511,600 455,000 517,000 3,114,855 3,486,222 6,213,250 6,400,600 3,309,587 5,059,891 34,589,285 34,464,323 5,894,500 5,333,300 654,224 546,950 2,157,000 1,804,000 0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000 45,000,000 50,000,000 55,000,000 60,000,000 65,000,000 2011 2012 M e t r i c
T o n s Annual Global LPG Supply By Regional Source Australia Caribbean Mediterranean Middle East North America North Sea South America Souheast Asia West Africa 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 12 5% 1% 5% 10% 6% 58% 10% 1% 4% 6% 1% 6% 10% 8% 56% 9% 1% 3% 6% 0% 3% 13% 12% 53% 8% 1% 4% 0% 10% 20% 30% 40% 50% 60% 70% West Africa Souheast Asia South America North Sea North America Middle East Mediterranean Caribbean Australia Global Annual LPG Supplies By Region 2011 2012 2013 YTD 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 13 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 14 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Total Monthly Middle East LPG Lifting Volumes Propane Butane Monthly Average MidEast 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 15 0 25,000 50,000 75,000 100,000 125,000 150,000 175,000 200,000 225,000 250,000 275,000 300,000 325,000 350,000 375,000 400,000 425,000 450,000 475,000 500,000 525,000 550,000 575,000 600,000 625,000 650,000 675,000 700,000 725,000 750,000 775,000 800,000 825,000 850,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Total Monthly US LPG Lifting Volumes Propane Butane Monthly Average US 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 16 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 550,000 J a n - 1 1 MM J S N J a n - 1 2 MM J S N J a n - 1 3 M M e t r i c
T o n s
Total Monthly Latin American LPG Lifting Volumes Propane Butane Average Monthly Latin America 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 17 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Total Monthly Algerian LPG Lifting Volumes Propane Butane Monthly Average Algeria 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 18 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Total Monthly West African LPG Lifting Volumes Propane Butane Monthly Average West Africa 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 19 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Total Monthly North Sea LPG Lifting Volumes Propane Butane Monthly Average North Sea 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 20 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Total Monthly Southeast Asian LPG Lifting Volumes Propane Butane Monthly Average SE Asia 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 21 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 J a n - 1 1 F e b - 1 1 M a r - 1 1 A p r - 1 1 M a y - 1 1 J u n - 1 1 J u l - 1 1 A u g - 1 1 S e p - 1 1 O c t - 1 1 N o v - 1 1 D e c - 1 1 J a n - 1 2 F e b - 1 2 M a r - 1 2 A p r - 1 2 M a y - 1 2 J u n - 1 2 J u l - 1 2 A u g - 1 2 S e p - 1 2 O c t - 1 2 N o v - 1 2 D e c - 1 2 J a n - 1 3 F e b - 1 3 M a r - 1 3 A p r - 1 3 M e t r i c
T o n s Regional Overview Southeast Asia North Sea WAF Algeria Latin America USA Middle East 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 22 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 23 0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 M e t r i c
T o n s Global Annual LPG Deliveries By Region 2011 2012 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 24 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 25 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 26 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD 2013 M e t r i c
T o n s Annual Overwater US LPG Imports Isobutane Butane Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 27 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD 2013 M e t r i c
T o n s Annual Overwater US LPG Exports Isobutane Butane Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 28 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 M e t r i c
T o n s Annual Overwater US LPG Exports US LPG Imports US LPG Exports 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 29 -6,000,000 -4,000,000 -2,000,000 0 2,000,000 4,000,000 6,000,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD 2013 M e t r i c
T o n s "Net" Waterborne US LPG Imports (Exports) By Product Isobutane Butane Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 30 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 31 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 2011 2012 M e t r i c
T o n s Annual US LPG Export Volumes Isobutane Butane Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 32 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 33 143,784 0 83,643 48,165 0 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 2011 Gulf Coast 2011 East Coast 2011 West Coast M e t r i c
T o n s
2011 Annual US LPG Exports By Coast IsoButane Butane Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 34 4,347,762 143,216 231,413 23,699 125,465 157,718 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 2012 Gulf Coast 2012 East Coast 2012 West Coast M e t r i c
T o n s
2012 Annual US LPG Exports By Coast IsoButane Butane Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 35 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 36 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 5,500,000 2011 Total 2012 Total M e t r i c
T o n s
Annual US LPG Exports By Regional Destination West Africa Undetermined South America Northwest Europe Mexico Mediterranean Far East Central America 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 37 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 C a r i b b e a n C e n t r a l
A m e r i c a F a r
E a s t M e d i t e r r a n e a n M e x i c o N o r t h w e s t
E u r o p e S o u t h
A m e r i c a U n d e t e r m i n e d W e s t
A f r i c a M e t r i c
T o n s
2011 Annual US LPG Exports By Regional Destination 2011 IsoButane 2011 Butane 2011 Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 38 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 C a r i b b e a n C e n t r a l
A m e r i c a F a r
E a s t M e d i t e r r a n e a n M e x i c o N o r t h w e s t
E u r o p e S o u t h
A m e r i c a U n d e t e r m i n e d W e s t
A f r i c a M e t r i c
T o n s
2012 Annual US LPG Exports by Regional Destination 2012 IsoButane 2012 Butane 2012 Propane 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 39 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 40 0 200 400 600 800 1,000 1,200 1,400 J a n
1 0F M A M JJ AS OND J a n
1 1F M A M JJ AS OND J a n
1 2F M A M JJ AS OND J a n
1 3F M U S
D o l l a r s
P e r
M e t r i c
T o n
Propane Price Comparison MB (Plus Term Fees) vs North Sea/Algeria CP/Saudi CP Avg FOB MB + Term Fee Saudi CP Algeria CP Avg FOB N.Sea 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 41 0 200 400 600 800 1,000 1,200 J a n
1 0 MM J S N J a n
1 1 MM J S N J a n
1 2 MM J S N J a n
1 3 M U S
D o l l a r s
P e r
M e t r i c
T o n Butane Price Comparison MB (Plus Term Fees) vs N.Sea/Algeria CP/Saudi CP Avg FOB MB + Term Fee Saudi CP Algeria CP FOB North Sea 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 42 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 43 0 10 20 30 40 50 60 70 37622 37803 37987 38169 38353 38534 38718 38899 39083 39264 39448 39630 39814 39995 40179 40360 40544 Jul-11 Jan-12 Jul-12 U S
D o l l a r s
P e r
M e t r i c
T o n US Gulf Coast Commercial LPG Terminalling Fees 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 44 0.000 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 9.000 10.000 11.000 12.000 13.000 14.000 15.000 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 5,500,000 6,000,000 6,500,000 J a n
2 0 0 3 J u l J a n
2 0 0 4 J u l J a n
2 0 0 5 J u l J a n
2 0 0 6 J u l J a n
2 0 0 7 J u l J a n
2 0 0 8 J u l J a n
2 0 0 9 J u l J a n
2 0 1 0 J u l J a n
2 0 1 1 J u l J a n
2 0 1 2 J u l C e n t s
P e r
G a l l o n B a r r e l s
Total LPG Exports Vs Terminalling Fees Total LPG Exports - Bbls USGC Terminalling Fee - Cts/Gal 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 45 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 46 0 200,000 400,000 600,000 800,000 1,000,000 M e t r i c
T o n s
Monthly US Waterborne LPG Exports Butane Propane Enterpri se Expansi on (Jan '13) Targa Expansi on (Oct '13) (Assumed & Incremental ) MarkWest Increases Targa Expansi on (Assumed Q4 '14) 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Topics to be Covered * Global Supplies * Regional Supplies * Global Delivery Volumes * US Import / Export History * US Export Supplies * US Export Supplies by Coast * US Exports by Regional Destination * Propane & Butane Pricing * US Terminalling Fees * US Export Expectations * US LPG Marine Terminal Projects 47 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Terminal Projects Announced Terminal Projects * Coastal Caverns (Vitol) Beaumont/Port Arthur, TX * Williams Beaumont/Port Arthur, TX * Sunoco (ETP) Nederland, TX * Phillips 66 Freeport, TX * Oxy Corpus Christi, TX
Potential Terminal Projects * Trammo - Newington, NH * Trammo - Tampa, FL * BG Lake Charles, LA * Valero Corpus Christi, TX * Martin Gas Corpus Christi, TX * Trafigura Corpus Christi, TX * TransMontaigne Brownsville, TX 48 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Other Factors To Consider * Petrochemical Expansions (US & International) * PDH Plants (US & China) * Global Supply Variations (Iran, UAE, SE Asia) * Global Demand Variations (N.Sea, Brazil, India, China)
49 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Conclusions * US LPG Export Volumes Are Increasing * Increased Exports J eopardizes Terminalling Fees * New projects will move more butane * East Coast Terminal Projects Budding * West Coast (Canada) Terminal Projects Budding
50 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. 51 2013, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. For more information about this presentation or IHS in general, please contact IHS Customer Care 800 447 2273 (IHS CARE) +44 (0) 1344 328 300 CustomerCare@ihs.com