Yang Ming Marine Transport Corp. · TWSE:2609
Yang Ming Marine Transport — 2022 Investor Conference
23 slides from Yang Ming Marine Transport's conference presentation, Dec 12, 2022
Slide 1: Yang Ming Marine Transport Corp. 2022 Investor Conference
Yang Ming Marine Transport Corp. 2022 Investor Conference 2022.12.12 1
Slide 2: Legal Disclaimer
Legal Disclaimer The information contained in this presentation, including all forward-looking information, is subject to change without notice, whether as a result of new information, further events or otherwise, and Yang Ming Marine Corp. (the “Company”) undertakes no obligation to publicly upda
Slide 3: Outline
Outline 1、 Container Shipping Overview 2、 Business Information 3、 Financial Results 4、 Operational Future Prospects 3
Slide 4: Container Shipping Overview
Container Shipping Overview 4
Slide 5: Economic Outlook
Economic Outlook • IMF expects the world economy will slow to 2.7% in 2023. 2021(E) 2022(F) 2023(F) World Economic Outlook Projections % 10.0 8.7 9.0 8.1 8.0 6.8 7.0 6.0 6.1 5.7 6.0 5.3 5.2 4.9 5.0 4.4 4.6 4.0 3.4 3.2 3.1 3.2 2.7 2.8 3.0 1.6 1.7 1.7 1.6 2.0 1 1 1.0 0.5 0.0 World US Euro Area ASEAN5
Slide 6: Supply and Demand
Supply and Demand • Drewry, Alphaliner and Clarksons research forecast supply will exceed demand from 2022 to 2023. 2021(E) 2022(F) 2023(F) Supply 4.5% 3.3% 3.8% Demand 7.1% 1.5% 1.9% Supply 4.5% 4.4% 7.8% Demand 6.7% 0.9% 2.7% Supply 3.7% 3.7% 7.3% Demand 6.8% -2.6% 1.1% Source: Alphaliner Monthly
Slide 7: Marine Fuel Oil Price Outlook Singapore market price
Marine Fuel Oil Price Outlook Singapore market price • Oil prices would surge again in 2023 amid China's attitude toward reopening markets after lifting its COVID-19 lockdown, continued declines in global inventories and spare capacity and slower-than-expected U.S. shale production. The risk of supp
Slide 8: Business Information
Business Information 8
Slide 9: The Proportion of Consolidated Operating Income
The Proportion of Consolidated Operating Income ★AWE、PSW 、PNW ★Intra-East Asia ★Middle East, Red Sea, South America, Australia, South Asia ★NCP、MED、TA、IEU Data interval:202201~202209 9
Slide 10: Lifting Volume Analysis - Lifting Volume 202201~09 increased by 2% YOY
Lifting Volume Analysis- Lifting Volume in Year 202201~09 increased by 2% YOY FY202201~09：3.45 million TEU FY202101~09：3.31 million TEU 10
Slide 11: Capacity Ranking
Capacity Ranking • As of November 2022, Yang Ming's fleet capacity is ranked 9th in the world. Source: Alphaliner, Nov 2022 11
Slide 12: Trade Capacity Breakdown by Alliance
Trade Capacity Breakdown by Alliance relatively balanced on trade capacity • Three Major Alliances account for • When it comes to East-West Market 85% of market share, similar with Y- share scale, OA maintains largest share o-Y 2021. in FE-N.AM/Europe, while 2M+ZIM in • 2M+ZIM and OA ranks higher in
Slide 13: Financial Results
Financial Results 14
Slide 14: The Proportion of Consolidated Operating Revenue of Yang Ming Group
The Proportion of Consolidated Operating Revenue of Yang Ming Group Logistics Bulk Container Shipping Wharf 3.52% 1.41% 94.97% 0.09% 14
Slide 15: Consolidated Income Statement
Consolidated Income Statement Unit：NT$ Million Items 202201~09 Operating Revenue 315,964 Gross Profit 208,045 Operating Income(Loss) 201,269 Net Income(Loss) 166,194 Profit(Loss),attribute to owners of the parent 165,858 EPS 47.50 15
Slide 16: Consolidated Operating Income, Gross Profit Margin and Net Income Margin
Consolidated Operating Income, Gross Profit(Loss) Margin and Net Income(Loss) Margin Data interval:2020Q1~2022Q3 16
Slide 17: Fuel price and Average FRT
Fuel price and Average FRT a = Vt Unit : Unit : USD/TON USD/TEU 850 4,000 818 800 3,500 3,417 750 700 3,000 650 2,500 600 550 2,000 500 1,500 450 400 1,000 Sy A DY 2 © Jd © © SY Ad Dd Dd 2 © dd & PP cP gh e PP cP oP gh Sr Og PP cP oP DP og PL KY KL re we YS LP LLL LM LK LM LK —o-Fuel Price(TON) —o-
Slide 18: Structure of Shareholders
Structure of Shareholders 18
Slide 19: Operational Future Prospects
Operational Future Prospects 20
Slide 20: Service Rationalization-Strategies
Service Rationalization-Strategies • Maintain appropriate scale in THEA to carter for product and capacity required adjustment. East-West • Consider the timing of new deliveries and commercial development to adjust trade capacity. Network • Rationalize port rotation for improving service punctuality
Slide 21: Yang Ming's Fleet Capacity and New Delivery
Yang Ming’s Fleet Capacity and New Delivery • Up to 30 Nov. 2022, there are 95 vessels in Yang Ming’s fleet, and total capacity is around 717,000 TEUs • 14 new-built 11,000TEU chartered-in vessels have been fully delivered by Y2022Q3.
Slide 22: Future Prospects
Future Prospects 1.The cargo demand is relatively soft by the effect of global inflation, high inventory level, oversupply, and also with raising interest rates and other economic facts which lead to the market rate in a downward trend since 2022 Q4 . 2.The freight rate may have a chance to rebound
Slide 23: Q&A
Q&A 24
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