Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q4 2019 Earnings Presentation
15 slides from Jinhui Shipping & Transportation's earnings presentation, Feb 28, 2020
Slide 1: Q4 2019 and 2019 Annual Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q4 2019 and 2019 Annual Results Presentation 28 February 2020
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
Highlights Q4 2019 Financial Highlights Revenue for the quarter: US$20 million Net profit for the quarter: US$6 million EBITDA: US$10.6 million Basic earnings per share: US$0.052 Year 2019 Financial Highlights Revenue for the year: US$63 million Net profit for the year: US$4 million EB
Slide 4: Highlights
Highlights In 2019, the Group disposed of 2 Supramaxes with payment terms of the balance of approximately US$4.4 million and US$4 million which will be repayable in three years, the purchasers provided first priority ship mortgage of the 2 vessels to the Group; In 2019, the Group entered into si
Slide 5: Financial Highlights
Financial Highlights For the quarter and year ended 31 December 2019 US$’000 2019 Q4 2018 Q4 2019 2018 (Unaudited) (Unaudited) QoQ (Unaudited) (Audited) YoY Revenue 19,790 17,716 12% 63,160 76,113 -17% Net gain on disposal of 90 425 -79% 90 5,437 -98% owned vessels EBITDA 10,568 1,841 474% 24,180 29
Slide 6: Key Financial Ratios
Key Financial Ratios As at 31 December 2019 2019 2018 (Unaudited) (Audited) Total assets (US$’000) 406,433 361,637 Total debt borrowings (US$’000) 133,915 90,183 1 Current ratio 1.39 : 1 2.54 : 1 Net gearing2 14% 0.65% Available liquidity (US$’000)3 97,662 88,551 1. Current ratio is calculated based
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 2020 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 v
Slide 8: Competitive Fleet with High Cargo Flexibility
Competitive Fleet with High Cargo Flexibility Installation of ballast water treatment Fleet Type Size (dwt) Year built Status Shipyard systems 1 Jin Lang Post-Panamax 93,279 2010 Owned Jiangsu New Yangzi Year 2022 2 Jin Mei Post-Panamax 93,204 2010 Owned Jiangsu New Yangzi Year 2022 3 Jin Xiang Supr
Slide 9: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 31 December 2019) Total debt as of 31 December 2019: US$134 million (2018: US$90 million) 80% 60% 51% 2018 45% 2019 35% 40% 27% 19% 20% 9% 10% 4% 0% 1 year > 1 - 2 years > 2 - 5 years > 5 years 9
Slide 10: Cargo Volume Analysis 2019
Cargo Volume Analysis 2019 2019 total cargo volume 12,276,000 tonnes 2018 total cargo volume 2019 (%) 13,961,000 tonnes 86% 2019 vs 2018 12% 1% 1% Minerals Steel Products Coal* Cement * Including steaming coal and coking coal 10
Slide 11: Loading Port Analysis 2019
Loading Port Analysis 2019 Chartering revenue expressed by loading ports Asia excluding China Australia Africa 90% China North America 2019 vs 2018 6% 2% 1% 2019 (%) 1% 2019 2018 0.0 20.0 40.0 60.0 80.0 US$ (M) 11
Slide 12: Discharging Port Analysis 2019
Discharging Port Analysis 2019 Chartering revenue expressed by discharging ports 93% China Asia excluding China 2019 vs 2018 7% 2019 (%) 2019 2018 0.0 20.0 40.0 60.0 80.0 12 US$ (M)
Slide 13: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 31 December 2019) Average daily time charter equivalent rate (TCE) 2019 Q4 2018 Q4 2019 2018 US$ US$ US$ US$ Post-Panamax Fleet 12,122 12,072 9,628 11,689 Supramax Fleet 11,336 9,559 9,522 9,743 In average 11,419 9,815 9,533 9,922 13
Slide 14: Daily Vessel Costs of Owned Vessels
Daily Vessel Costs of Owned Vessels US$ (Based on information up to 31 December 2019) 8,000 412 362 387 6,000 412 2,081 2,040 2,081 2,084 4,000 2,000 4,028 4,537 4,467 3,927 Running cost Depreciation 0 Finance cost 2018 2019 Q4 2018 Q4 2019 Daily running costs is calculated as the aggregate of crew
Slide 15: Market Outlook
Market Outlook US China trade relations eased off…….for now; Supply is in check, the big question is how economic growth will affect demand; IMO 2020 – a much lesser issue in front of other challenges; Coronavirus (COVID-19) no longer an Asian issue? When will the freight market recover 15
Jinhui Shipping and Transportation — Q4 2019 Earnings Presentation on 6ix