Tanker Time 1 Background Established 2018 Independent Manager of - - PowerPoint PPT Presentation

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Tanker Time 1 Background Established 2018 Independent Manager of - - PowerPoint PPT Presentation

Oct 14, 2023 379 likes •469 views

Ben Ognibene, CEO Concord Maritime, LLC Tanker Time 1 Background Established 2018 Independent Manager of 3 rd Party Tanker Pools Funded for Projects / Time Charter Activity Highly experienced and specialized team with

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SLIDE 1

Ben Ognibene, CEO Concord Maritime, LLC

Tanker Time

1

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SLIDE 2

Background

  • Established 2018
  • Independent Manager of 3rd Party Tanker Pools
  • Funded for Projects / Time Charter Activity
  • Highly experienced and specialized team with proven track record outperforming the

markets and developing leading crude tanker pools

  • Long-term relationship focused
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SLIDE 3

History

Q2 2018 Q3 2018 Q4 2018

  • Launched
  • Est. Dakota Tankers Pool

delivered first Aframax

  • Pool working capital facility
  • Reporting platform
  • TC activity - LR2
  • Dakota Fleet - 6 Afras/LR2s
  • Positioned for the winter
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SLIDE 4

Aframax market is global, fragmented, and liquid

WEST

  • Atlantic rates historically more volatile
  • Triangulation opportunities
  • USG epicenter of the Aframax market

EAST

  • Compromised vessels
  • Different trading mentality
  • Tonnage distributed thickly throughout
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SLIDE 5
  • Iranian Sanctions
  • U.S. – Crude Production
  • U.S. China Trade War
  • Fleet Supply

Source: McQuilling

October in the Caribbean – The Perfect Storm

Rates jumped from $8,500 to $60,000 per day

TD9 – Carib / US Gulf

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SLIDE 6

$0 $50,000 $100,000 $150,000 $200,000 $250,000 01-00 01-01 01-02 01-03 01-04 01-05 01-06 01-07 01-08 01-09 01-10 01-11 01-12 01-13 01-14 01-15 01-16 01-17 01-18 VLCC SUEZMAX AFRAMAX

SHORT TERM:

CRUDE TANKER MARKET AT THE TURNING POINT

i. Sanctions / Trade War ii. U.S. crude production iii. OPEC+ production cut iv. Ton-Mile increasing with voyages x-Atlantic

Continued volatility in crude tanker markets

LONG TERM:

REGULATORY CHANGES, FINANCING ENVIRONMENT

i. IMO regulations and compliance ii. Financing constricting orders, for now iii. Iranian Sanctions iv. Global crude demand

Source: Clarksons

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SLIDE 7

Direct market access with aligned partners

MARKET PARTICIPATION:

UPSIDE POTENTIAL DOWNSIDE PROTECTION

i. Quality vessel/operator ii. Volatile market iii. Shared upside/downside iv. Time/options

PLATFORM:

THE RIGHT PARTNER

i. Track record of performance, problem solving ii. Upfront and fair iii. Transparency and reporting iv. Aligned interests

Base rate + profit sharing Equity Participation Enjoy market exposure, sleep at night