Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q2 2019 Earnings Presentation
15 slides from Jinhui Shipping & Transportation's earnings presentation, Aug 29, 2019
Slide 1: Q2 2019 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q2 2019 Results Presentation 29 August 2019
Slide 2: Disclaimer
Disclaimer This presentation may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including the Company’s management's examination of historical operating trends. Although the Company believes that th
Slide 3: Highlights: Q2 2019 Financial Highlights
Highlights Q2 2019 Financial Highlights Revenue for the quarter: US$14 million Net loss for the quarter: US$1.1 million EBITDA: US$3.8 million Basic loss per share: US$0.010 Gearing ratio as at 30 June 2019: 3% 3
Slide 4: Highlights
Highlights Drop in revenue mainly due to a weaker freight environment and reduction in number of owned vessels from twenty-three as at Q2 2018 to nineteen as at Q2 2019; Contracts to acquire two second hand Supramaxes at total consideration of US$12m in Q2 2019, the first one was delivered in Ma
Slide 5: Financial Highlights
Financial Highlights For the quarter and six months ended 30 June 2019 Q2 2019 Q2 2018 1H 2018 1H 2018 2018 US$’000 (Unaudited) (Unaudited) QoQ (Unaudited) (Unaudited) YoY (Audited) Revenue 14,019 22,118 -37% 26,784 40,094 -33% 76,113 Net gain on disposal of - - - - - - 5,437 owned vessels Operating
Slide 6: Key Financial Ratios
Key Financial Ratios As at 30 June 2019 Q2 2019 Q2 2018 2018 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 387,369 357,830 361,637 Total debt borrowings (US$’000) 118,219 87,568 90,183 Return on equity1 -0.46% 1.15% 3.51% Return on total assets2 -0.31% 0.74% 2.27% Current ratio3 1.71 : 1
Slide 7: Our Fleet Development
Our Fleet Development 1987 1991 1992 1994 2000 2002 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 August Year 38 38 36 36 36 Disposed No. of vessels owned(1) 35 1 Supramax 28 in Q1 2019 31 24 Disposed 23 Acquired 8 vessels Disposed Disposed 1 Supramax in 2016 5 vessels 4
Slide 8: Competitive Fleet with High Cargo Flexibility
Competitive Fleet with High Cargo Flexibility Fleet Type Size (dwt) Year built Status Shipyard 1 Jin Lang Post-Panamax 93,279 2010 Owned Jiangsu New Yangzi 2 Jin Mei Post-Panamax 93,204 2010 Owned Jiangsu New Yangzi 3 Jin Xiang Supramax 61,414 2012 Owned Oshima 4 Jin Hong Supramax 61,414 2011 Owned
Slide 9: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 30 June 2019) Total debt as of 30 June 2019: US$118 million (2018: US$90 million) 80% 60% 2018 48% 45% Q2 2019 36% 40% 27% 19% 20% 9% 9% 7% 0% 1 year > 1 - 2 years > 2 - 5 years > 5 years 9
Slide 10: Cargo Volume Analysis Q2 2019
Cargo Volume Analysis Q2 2019 Q2 2019 total cargo volume 2,840,000 tonnes Q2 2018 total cargo volume Q2 2019 (%) 3,300,000 tonnes 89% Q2 2019 vs Q2 2018 11% Minerals Steel Products Coal* * Including steaming coal and coking coal 10
Slide 11: Loading Port Analysis Q2 2019
Loading Port Analysis Q2 2019 Chartering revenue expressed by loading ports Asia excluding China Australia Africa 89% China North America Q2 2019 vs Q2 2018 2% 3% Q2 2019 (%) 3% 3% Q2 2019 Q2 2018 0.0 5.0 10.0 15.0 20.0 25.0 US$ (M) 11
Slide 12: Discharging Port Analysis Q2 2019
Discharging Port Analysis Q2 2019 Chartering revenue expressed by discharging ports 88% China Asia excluding China 12% Q2 2019 vs Q2 2018 Q2 2019 (%) Q2 2019 Q2 2018 0.0 5.0 10.0 15.0 20.0 25.0 12 US$ (M)
Slide 13: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 30 June 2019) Average daily time charter equivalent rate (TCE) 2019 Q2 2018 Q2 2019 1H 2018 1H 2018 US$ US$ US$ US$ US$ Post-Panamax Fleet 8,711 11,992 7,473 11,722 11,689 Supramax Fleet 8,963 10,923 8,376 9,725 9,743 In average 8,93
Slide 14: Daily Vessel Costs of Owned Vessels
Daily Vessel Costs of Owned Vessels US$ (Based on information up to 30 June 2019) 8,000 387 322 434 6,000 2,081 2,050 2,138 4,000 2,000 4,028 4,100 3,962 Running cost Depreciation 0 Finance cost 2018 Q2 2018 Q2 2019 Daily running costs is calculated as the aggregate of crew expenses, insurance, cons
Slide 15: Market Outlook
Market Outlook Trade tension is the biggest overhang in the shipping market; Fear of global economic slowdown, demand uncertainty; Newbuilding orders at the lowest in a decade; Spread between LSFO and HSFO may not be as large as predicted; Remain nimble in order to respond to increasingly
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