Investor Presentaiton
Vessel Supply Outlook
71 VLGCs are Currently On Order
50
vessels
40
30
20
10
35
44
21
2015
2016
2017
2018
2019
140
120
17% of VLGC Fleet is 20+ Years Old
2020
■Delivered On Order
2021
2022
12 14
10 17
21 18
18
2
43
2023E
2024E
2025E
2026E
60
40
100
80
60
77
118
scrapping zone
vessels
20
20
50
39
Orderbook-to-fleet stable at -22%
First LPG-fueled vessels delivered in 2021
62 vessels or 18% of the global fleet are due for
drydocking and five-year special surveys in 2023
• 71 forward deliveries vs. 58 vessels potential scrapping
candidates
.
One vessel has been scrapped in 2022
.
Average fleet age stands at 11.2 years old
•
IMO 2020 regulations may accelerate scrapping pressure
32
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as compliance costs make less efficient ships
increasingly uneconomical
< 5
5-10
10-15
15-20
20-25
25+
Source: Clarksons
Note: Excludes ethane carriers
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