SinOceanic Shipping ASA

Annual General Meeting15 May 2013

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This presentation contains and is based on, inter alia, forward-looking information

relating to the business, financial performance and results of SinOceanic Shipping ASA

(the "Company"), its subsidiaries and/or the industry in which it operates. Forward-

looking information concerns future circumstances, results and other matters that are

not historical facts, sometimes identified by the words “believes”, “expects”,

“predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”,

“targets”, and similar expressions. The forward-looking information set out in, and

underlying, this presentation is only opinions and forecasts which are subject to risks,

Disclaimer

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underlying, this presentation is only opinions and forecasts which are subject to risks,

uncertainties and other factors that may cause actual events to differ materially from

any anticipated development. None of the Company or any of its shareholders or

subsidiary undertakings or any such person’s officers or employees provides any

assurance that the assumptions underlying such forward-looking information are free

from errors nor do any of them accept any responsibility for the future accuracy of the

future information expressed in, or underlying, this presentation or the actual

occurrence of the forecasted developments. The Company assumes no obligation,

except as required by law, to update any information based on or including forward-

looking information, or to conform any forward-looking information to our actual

results.

�Highlights 2012 and 2013

�2012 Financials

�Business Strategy

Content

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� 11 January : Sino I took delivery of MSC Vega

– The vessel was financed through a USD 80 million eight years senior secured loan facility

arranged by Deutsche Bank AG and guaranteed by SinOceanic, and a second priority

secured loan of USD 80 million from Oceanus International Investments AS (“Oceanus”)

� 28 March: Sino II took delivery of MSC Altair

– The vessel was financed through a USD 100 million three year senior secured bond loan

and a second priority secured loan of USD 60 million from Oceanus

Highlights 2012

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and a second priority secured loan of USD 60 million from Oceanus

� 21 May: Sino III took delivery of MSC Regulus

– The vessel was financed through a USD 100 million two year senior secured loan, a USD

20 million second priority mezzanine loan and a USD 44 million third priority junior loan

from Oceanus

� July/August: Mandatory offer for the outstanding shares in the Company

– On 13 July, Sinindo Holdings Limited (“Sinindo”) made a mandatory offer for the

outstanding shares in the Company

– On 10 August, the mandatory offer expired and Sinindo’s ownership share was 81.97%

of the Company

� In January, the Company’s subsidiaries Sino I, II and III AS entered into

agreements with Oceanus to subordinate USD 19-20 million of each

subsidiary’s debt to Oceanus to all other obligations of the subsidiaries

� Company and its subsidiaries have recently entered into negotiations with

Sinindo, Oceanus and a major Chinese bank for the complete refinancing of

the Company and the subsidiaries

Highlights 2013 (ytd)

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� As per 31 March 2013:

– Consolidated operating result in line with expectations

– Consolidated EBITDA was USD 13.2 million in the 1st quarter 2013

– Net financial items amounted to USD -15.5 million of which USD 0.2 million related

to negative changes in the market value of an interest rate derivative entered into

on the loan financing “MSC Vega”

– The consolidated cash position was USD 23.6 million, including restricted cash of

USD 3 million. The consolidated equity was USD 2.5 million

2012 Financials - Profit & Loss Statement

(USD 000) 2012 2011

TC revenue 57,748 9,306

Vessel related opex (8,080) (1,379)

Other operating expences (4,751) (6,095)

EBITDA 44,917 1,832

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Depreciation & Amortisation (12,914) (2,181)

EBIT 32,002 (349)

Net financial items (52,311) (2,417)

Profit/(loss) before tax (20,308) (2,766)

Tax expense - -

Net profit/(loss) (20,308) (2,766)

2012 Financials - Balance Sheet

(USD 000) 2012 2011

Total non-current assets 504,726 111,973

Other current assets 2,818 720

Cash and cash equivalents 24,000 10,068

TOTAL ASSETS 531,544 122,761

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TOTAL ASSETS 531,544 122,761

Total equity 8,179 29,672

Non-current interest bearing debt 500,239 26,905

Current interest bearing debt 8,287 63,856

Other current liabilities 14,839 2,328

TOTAL EQUITY AND LIABILITIES 531,544 122,761

� SinOceanic’s objective is to become a high growth ship finance

company

– Ambition to reach a container fleet of 100,000-120,000 TEU lifting capacity

within 24 months

� Already acquired 4 new and modern container vessels with lifting

capacity of 44,000 TEU, 3 of them at ~20% discount to original

project cost

Acquisition includes CP’s to first rate charterers entered into prior to

SinOceanic key highlights

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– Acquisition includes CP’s to first rate charterers entered into prior to

financial crisis at rates reflecting pre-financial crisis asset values

� Strong supportive shareholder facilitating growth

– Main shareholder HNA has bridge-financed SinOceanic to date

� Management team with extensive network and industry experience

– Ability to generate proprietary and accretive deals

– Lean and cost efficient organization

Creating a sizeable ship owning company

� Acquire modern and standard vessels with charters attached and with appreciation potential

� Scalable set-up enabling aggressive growth strategy without noticeable increase in G&A

� Targeting optimal capital structure and dividend policy

Business strategy

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� Flexible investment approach towards segments, however initial focus will be on the container segment as it still is considered the most attractive in terms of asset prices and employment by the company

� Constantly monitor all shipping markets to identify the segments which at any given time provide the best risk reward ratio. Watch out for and exploit turning points in all markets

Company sole focus is to take advantage of current market opportunities investing in

attractively priced tonnage with firm cash flow

Source: SinOceanic

YM Portland (4,444 TEU)

� Built in 2003, acquired 17 November 2010

� Purchase price USD 50.5m

� Time charter until 2019 to Yangming (UK) Ltd

MSC Vega, MSC Altair and MSC Regulus (13,100 TEU)

� MSC Vega delivered Jan 2012

� MSC Altair delivered March 2012

4 attractive deals completed with long term CPs

Represents freight income of ~USD 1 bn

85

330

330

255

1,000

0

200

400

600

800

1,000

1,200

YM Portland MSC Vega* MSC Altair* MSC Secured

USDm

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� MSC Altair delivered March 2012

� MSC Regulus delivered May 2012

� Combined purchase price USD 465m

� Attractive 15 year charter parties to MSC

(*) Assuming that the purchase options are not exercised

Illustrative EBITDA first full year of operations of current fleet

(excl. G&A)

Acquired vessels fit well into SinOceanic’s business

model and illustrates its ability to access high

profile transaction

YM Portland MSC Vega* MSC Altair* MSC

Regulus*

Secured

freight

income

6

18

18

17

60

0

10

20

30

40

50

60

70

YM Portland MSC Vega MSC Altair MSC

Regulus

Total

EBITDA

USDm

� The Company and the Subsidiaries have recently entered into negotiations

with Sinindo, Oceanus and a major Chinese bank for the complete

refinancing of the Subsidiaries. Details of the planned refinancing remain to

be agreed

� Currently contemplated that Sinindo as part of the refinancing will acquire

all of Oceanus' remaining claims, including interest, under the junior loans

Refinancing plans

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all of Oceanus' remaining claims, including interest, under the junior loans

issued to each of the Subsidiaries, and transfer them to the Company

against consideration in shares, in whole or in part. The Company will

thereafter convert parts of the Junior Loan Claims into equity in Sino I, II

and III respectively

� It is anticipated that the Company will be able to refinance all of the

Subsidiaries at or before maturity of the loans. The refinancing of Sino I and

the transfer of the Junior Loan Claims to the Company are expected to take

place during 2nd or 3rd quarter of 2013

Contact details

SinOceanic Shipping ASA

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SinOceanic Shipping ASARådhusgaten 23,

N-0158 Oslo, Norway

Tel: +47 22 81 40 00

Fax: +47 22 81 40 01

It is suggested that the Board of Directors is granted the following authority to purchase its own shares:

“The Board of Directors is granted authority to, on behalf of the company, acquire its own

shares with a total nominal value of up to NOK 8,052,767, provided however that the

total nominal value of own shares at any given time shall not exceed 10 per cent of the

share capital in the Company.

Item 13 – Board Authorization to acquire own shares.

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The maximum amount which can be paid per share is NOK 30 and the lowest is NOK 1.5.

Acquisition and subsequent sale of such own shares can take place as considered suitable

by the Board of Directors, but not through subscription of such own shares. The Board of

Directors shall ensure that applicable legislation regarding equal treatment of the

company’s shareholders and the prohibition against giving shareholders an unreasonable

advantage at the disadvantage of other shareholders is complied with.

The authority is valid until the Annual General Meeting in 2014, but no longer than 30

June 2014.”