Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q4 2024 Earnings Presentation
21 slides from Jinhui Shipping & Transportation's earnings presentation, Feb 28, 2025
Slide 1: Q4 2024 & Annual Results Presentation
Q4 2024 & ANNUAL RESULTS PRESENTATION Jinhui Shipping and Transportation Limited 28 February 2025
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’ management's examination of historical operating trends. Although the Company believes that the
Slide 3: Highlights for 2024
Highlights for 2024 Q4 2024 Year 2024 Financial Highlights Financial Highlights ► Revenue: US$44 million ► Revenue: US$159 million ► EBITDA: US$19 million ► EBITDA: US$74 million ► Net profit: US$5 million, ► Net profit: US$24 million, ► included non-cash reversal of ► included non-cash reversal of
Slide 4: Highlights for 2024
Highlights for 2024 Supported by demand growth for dry bulk commodities and limited supply of vessels, with the Group’s fleet expansion, the Group recorded a significant increase in performance for year 2024 US$M Q4 Revenue US$M Yearly Revenue 180 180 160 160 140 140 120 120 100 100 80 80 60 60 40 4
Slide 5: Highlights for 2024
Highlights for 2024 US$M Q4 Net Profit (Loss) US$M Yearly Net Profit (Loss) 10 40 0 20 Q4 2023 Q4 2024 0 -10 2023 2024 -20 -20 • Q4 2024 : Net profit US$5.2M • 2024 : Net profit US$24M -40 • Q4 2023 : Net loss US$27.7M • 2023 : Net loss US$55M -30 -60 US$000 Q4 Average TCE US$000 Yearly Average TCE
Slide 6: Highlights for 2024
Highlights for 2024 ► Shipping related expenses increased to US$84.4 million mainly attributable to the rise in hire payments as the Group entered into certain inward time charters engagements during the 2024. Hire payment of US$21.8 million on short-term leases was incurred during year. ► The daily
Slide 7: Fleet Overview
Fleet Overview ► The Group concluded to acquire two Capesizes, one Panamax and one Ultramax during the year. ► Engaged with Jiangsu Hantong for the construction of two Ultramax newbuildings, to be delivered in 2026 and 2027. ► As at 31 December 2024, twenty five owned vessels and eight chartered-in
Slide 8: Financial Highlights
Financial Highlights For the quarter and year ended 31 December 2024 Q4 2024 Q4 2023 2024 2023 US$’000 (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 44,176 24,603 158,900 81,868 Net loss on disposal of owned vessels - (880) - (880) Reversal of impairment loss (Impairment loss) on owned vesse
Slide 9: Key Financial Ratios
Key Financial Ratios As at 31 December 2024 2024 2023 (Unaudited) (Audited) Total assets (US$’000) 524,202 483,633 Total equity (US$’000) 371,610 349,930 Secured bank loans (US$’000) 97,994 88,167 Current ratio1 1.27 : 1 1.75 : 1 Net gearing2 15% 7% Available liquidity (US$’000)3 40,908 62,613 Retur
Slide 10: Our Fleet Development
Our Fleet Development (Based on information up to 27 February 2025) 1991 2007 2024 Group Found Listed Oslo Børs Took Delivery Jinhui Shipping listed on Operation with 38 Oslo Stock Exchange Owned Vessels Listed HKEx 1st Order in China Fleet Expansion Parent Jinhui Holdings 8 Supramaxes from Carrying
Slide 11: Jinhui Fleet
Jinhui Fleet Owned vessels in operation • Operating - 26 owned vessels • total capacity of owned vessels - 1,782,000 deadweight metric tonnes • average age - 14.46 years (Based on information up to 27 February 2025) Vessel Size (dwt) Year built Shipyard Vessel Size (dwt) Year built Shipyard 1 JIN CH
Slide 12: Jinhui Fleet
Jinhui Fleet Chartered-in vessels in operation Type Long Term Short Term Total Chartered Chartered Capesize 1 - 1 Panamax 2 1 3 Ultramax / Supramax 2 3 5 Total 5 4 9 Long Term Chartered-in Vessel Size (dwt) Year built 1 TAHO CIRCULAR 84,484 2022 2 EVER SHINING 81,842 2021 3 TRUE NEPTUNE 207,672 2017
Slide 13: Debt Maturity Profile
Debt Maturity Profile Total debt as of 31 Dec 2024: 90% 83% US$98 million (2023: US$88 million) 80% 70% * Vessel mortgage loans were fully 63% repaid in first half of 2024 60% * Secured bank loans represented 50% revolving loans, term loans and property mortgage loans which 37% were secured by the G
Slide 14: Cargo Mix Analysis
Cargo Mix Analysis 2024 Cargo Mix (%) 70% 60% 60% Total cargo volume 50% 40% 30% 20% 18% 11% 15.80 10% 4% 2% 1% 4% Million tonnes (2023 15.37mt) 0% 2023 2024 * Including steaming coal and coking coal 14
Slide 15: Distribution of Cargo
Distribution of Cargo Loading Ports Analysis 2024 Europe 1% US$M North China 80 America 3% 24% 70 Asia 60 excluding China 50 48% 40 30 Africa 20 6% 10 0 South Australia America 7% 11% 2024 2023 Chartering revenue expressed by loading ports © Australian Bureau of Statistics, GeoNames, Microsoft, Navi
Slide 16: Distribution of Cargo
Distribution of Cargo Discharging Ports Analysis 2024 Europe 2% North China America US$M 4% 43% 70 Asia excluding 60 China 50 35% 40 30 Africa 20 15% 10 South 0 America 1% 2024 2023 Chartering revenue expressed by discharging ports © Australian Bureau of Statistics, GeoNames, Microsoft, Navinfo, Ope
Slide 17: TCE of Jinhui Fleet
TCE of Jinhui Fleet Average Daily Time Charter Equivalent Rate (TCE) Q4 2024 Q4 2023 2024 2023 Type US$ US$ US$ US$ Capesize Fleet 24,500 - 24,298 - Panamax Fleet 13,900 19,472 15,528 13,126 Ultramax / Supramax Fleet 15,356 10,276 14,466 8,892 In Average 15,567 10,642 14,741 9,063 ► As of today, we
Slide 18: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels US$ • Daily vessel running cost is calculated as the aggregate of crew expenses, insurance, consumable stores, spare parts, repairs and maintenance and 12,000 other vessels’ miscellaneous expenses divided by US$10,135 ownership days during the year / perio
Slide 19: Litigation Update
Litigation Update Legal proceedings with Parakou Shipping ► Formally bring the ongoing global legal dispute to an end ► Reached agreement to settle the global legal action ► Settlement sum of about US$3.5 million and SGD27.6 million (approximately US$23.8 million in total) were received in April 202
Slide 20: Outlook
Outlook ► Supply demand fundamentals remain in favour ► Interest rate cycle? ► Asset prices ► Potential impact of USTR proposals ? ► Geopolitical uncertainty remains to be the main source of risk/volatility 20
Slide 21: Thank You
Thank You
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