Sincere Navigation Corporation · TWSE:2605

Sincere Navigation — 2018 Q4 Investment Forum by KGI Securities

15 slides from Sincere Navigation's conference presentation, Dec 6, 2018

  1. Slide 1: 2018-2019 Dry Bulk and Tanker Shipping Market

    新 興 航 201 Sincere Navigation Corporation 運 8 2018-2019 Dry Bulk and Tanker Shipping Market December 06, 2018 新興航運股份有限公司 Sincere Navigation Corporation

  2. Slide 2: 2018-2019 Dry Bulk Market Positive / Negative Drivers

    2018-2019 Dry Bulk Market Positive / Negative Drivers Positive Drivers Negative Factors  2018 newbuilding deliveries  US-Sino Trade War (Protectionist Policies decreased substantially. – No Winners)  2019 decrease in ton-miles, due to  Global economic outlook and confidence installation of scrub

  3. Slide 3: Dry Bulk Average Spot Rates – By Vessel Types

    Dry Bulk Average Spot Rates – By Vessel Types Market Outlook Index Performance Source: Clarkson SIW 新興航運股份有限公司 Sincere Navigation Corporation 3

  4. Slide 4: Capesize Spot Earnings

    Capesize Spot Earnings Market Outloo k Spot Earnings Source: Clarkson SIW 新興航運股份有限公司 Sincere Navigation Corporation 4

  5. Slide 5: Capesize Spot Earnings – 28th Nov. 2018

    Capesize Spot Earnings – 28th Nov. 2018 Market Outloo k Spot Earnings Source: Baltic Exchange 新興航運股份有限公司 Sincere Navigation Corporation 5

  6. Slide 6: Panamax Average Earnings

    Panamax Average Earnings Market Outloo k Spot Earnings Source: Clarkson SIW 新興航運股份有限公司 Sincere Navigation Corporation 6

  7. Slide 7: Panamax Spot Earnings – 28th Nov. 2018

    Panamax Spot Earnings – 28th Nov. 2018 Market Outloo k Spot Earnings Source: Baltic Exchange 新興航運股份有限公司 Sincere Navigation Corporation 7

  8. Slide 8: Tanker Spot Earnings

    Tanker Spot Earnings Market Outloo k Tanker Spot Earnings Source: Clarkson SIW 新興航運股份有限公司 Sincere Navigation Corporation 8

  9. Slide 9: VLCC Spot Earnings

    VLCC Spot Earnings Market Outloo k Tanker Earnings Source: Clarkson SIW 新興航運股份有限公司 Sincere Navigation Corporation 9

  10. Slide 10: Dry Bulk Newbuilding deliveries & demolition

    Dry Bulk Newbuilding deliveries & demolition Market Outloo k Fleet delivery & demolition statistics Source: Clarkson SIW 新興航運股份有限公司 Sincere Navigation Corporation 10

  11. Slide 11: Company Overview

    Company Overview 20 新興航運股份有限公司 Sincere Navigation Corporation 18

  12. Slide 12: Sincere Navigation Fleet Summary

    Sincere Navigation Fleet Summary Tankers Dry Bulk Stable Diligence Improvin g VLCC – Elbhoff Capesize – Mineral Oak • Placed in Tanker Pool, achieving • Carries major commodities, like iron ore, coal. long-term commercial management • Flexible operations between spot and stability. period markets. T

  13. Slide 13: Sincere Navigation Fleet (by # of vessels)

    Sincere Navigation Fleet (by # of vessels) VLCC VLOC Total Fleet: (Tanker) 6% 18% 17  VLCC (Tanker): 3  VLOC: 1  Capesize: 9 Handymax VLOC Capesize  Kamsarmax: 2 12% Kamsarmax  Handymax: 2 Handymax Capesize VLCC (Tanker) 53% Kamsarmax 12% 新興航運股份有限公司 Sincere Navigation Corporation 13

  14. Slide 14: Sincere Navigation Fleet

    Sincere Navigation Fleet SUMMER DWT VESSEL 船名 SHIP BUILDER TYPE DELIVERY MT ELBHOFF ( 海福輪 ) SWS VLCC 01/2017 300,837 KONDOR ( 高登輪 ) SWS VLCC 01/2012 296,714 MAXIM ( 美生輪 ) SWS VLCC 06/2011 296,887 TIEN SHAN ( 天山輪 ) BEIHAI VLOC 03/2018 250,327 BAO SHAN ( 寶山輪 ) CSBC Capesize Bulker 09/2006 175,009 CHIN

  15. Slide 15: Q&A

    2605.TW Q&A 新興航運 Sincere Navigation Corporation Investor Relations Contact: Spokesman: Mr. Jack Lee (Vice President) sncbiz@snc.com.tw +886-2-2703-7055 新興航運股份有限公司 Sincere Navigation Corporation

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