Investor Presentaiton
VLCG Delivery & Scrapping
0
"VLGC" Shipping Buildout Will Reduce Freight Rates
-Very Large Gas Carriers ("VLGC") transport LPG (propane and butane)
Propane VLGC Additions of +0.3 MMBbl/d in 2023 will Lower Shipping Costs
Global VLGC Fleet
50
50
46 New Ships in 2023
(11 delivered through April)
40
40
Total Ship Fleet
(Right Axis)
30
30
20
20
10
$/Metric Ton
Baltic VLGC Futures
405
105
390
95
Ship Additions Support Robust
Exports and Mont Belvieu Pricing
340
85
290
VLGC Ships
240
Delivered
190
VLGC Fleet
75
Current Levels at $75/Metric Ton
vs. $94/Metric Ton in February
55
65
140
55
90
40
40
45
40
-10
VLGC Ships Scrapped
-10
35
2023
| Antero Resources (NYSE: AR) Source: Poten
Baltic Futures as of 4/25
Baltic Futures as of 2/24
The Baltic Rate is the USD Per Metric Ton Rate for
the LPG Freight Route from Ras Tanura, Saudi Arabia
to Chiba, Japan for Cargoes of 44,000 Metric Tons.
Source: CME
2024
2025
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