Singapore Exchange Ltd. · SGX:S68

Singapore Exchange — First Ship Lease Trust — Q4 FY2016 Earnings Presentation

11 slides from Singapore Exchange's earnings presentation, Feb 24, 2017

  1. Slide 1: FSL Trust 4QFY16 Financial Results

    F S L Tr u s t 4QFY16 Financial Results 24 February 2017

  2. Slide 2: 4QFY16 – Key financial highlights

    4QFY16 – Key financial highlights  Net loss of US$ 42.3m in 4Q16 due to US$44.1m non-cash impairment  Another quarter of positive cash generation despite the accounting loss  Revenue declined 10.6% year-on-year, primarily due to:  the reduced fleet portfolio  softening rates in some tanker sect

  3. Slide 3: Performance review

    Performance review Inc/(Dec) US$’000 4QFY16 4QFY15 % Revenue 23,189 25,928 (10.6) Operating (loss)/profit (40,301) 2,602 NM (Loss)/Profit for the quarter (42,286) 83 NM Net cash generated from 13,195 15,695 (15.9) operations Gearing ratio 47.3% 49.4% (4.3)  Revenue decrease mainly due to reduced fl

  4. Slide 4: Fleet deployment by revenue

    Fleet deployment by revenue (1) Pool 13% Market-rate BBC Fixed-rate 16% BBC 44% Time charter 27% Note 1: BBCE revenue for the 3 months ended 31 December 2016 4

  5. Slide 5: Operational performance

    Operational performance BBCE revenue by vessel type 9.0 (36.8%) US$ million 8.0 7.9 7.0 6.0 5.0 5.0 (28.0%) 4.0 3.7 (11.2%) +14.3% 3.0 +318.0% (31.7%) 2.7 2.7 2.6 2.4 2.3 2.0 2.3 2.3 1.5 1.0 (70.9%) 0.5 0.1 0.6 0.0 Feeder container Specialised tanker MR Aframax Chemical tanker LR2 Panamax container*

  6. Slide 6: Lease maturity of vessels

    Lease maturity of vessels Vessel Year build Size (DWT) 2017 2018 2019 2020 2021 2022 2023 Product Tankers Cumbrian Fisher 2004 12,921 Clyde Fisher 2005 12,984 Shannon Fisher 2006 5,421 Solway Fisher 2006 5,421 Vessels on fixed- Speciality 2006 4,426 rate bareboat charters Seniority 2006 4,426 Superi

  7. Slide 7: Revenue backlog

    Revenue backlog Remaining contracted revenue stood at US$ 101m (1) as at 31 December 2016 US$ m 50 45 40 35 18 30 25 20 15 26 10 22 22 13 5 0 2017 2018 2019 2020-2021 Bareboat Charter Time charter Note 1: Based on revenue from ten bareboat charters (excluding the TORM charters on variable rates) and

  8. Slide 8: Scheduled dry dockings for the next 12 months

    Scheduled Scheduleddry dockings Dry Docksfor the fornext the12Next months 12 Months FSL managed fleet - Vessels planned for dry docking Vessel Date FSL Hong Kong 1Q FY2017 FSL Shanghai 3Q FY2017 FSL Osaka 3Q FY2017 Latest dry dockings Vessel Date FSL New York 3Q FY2016 FSL Tokyo 3Q FY2016 FSL London

  9. Slide 9: Scheduled redeliveries

    FY2017 scheduled Scheduled redeliveries as at 3QFY14 Redeliveries Vessel Date Speciality 2Q FY2017 Superiority 2Q FY2017 Seniority 2Q FY2017 FSL Hong Kong 1Q FY2017 FSL Shanghai 3Q FY2017 FSL Hamburg 4Q FY2017 FSL Singapore 4Q FY2017 Cumbrian Fisher 4Q FY2017 Clyde Fisher 4Q FY2017  The Trust succe

  10. Slide 10: Summary and outlook

    Summary and outlook  Summary  Another quarter of positive cash generation despite the non-cash impairment, a smaller fleet and the challenging shipping industry environment  Gearing reduced to 47.3% with over US$ 50m of debt repaid in last twelve months  Outlook  Shipping markets across all sec

  11. Slide 11: Thank You

    Thank You

First Ship Lease Trust — Q4 FY2016 Earnings Presentation on 6ix