2020 Bulkers Ltd. · OSL:2020
2020 Bulkers — Nordnet Webcast (July 2020)
11 slides from 2020 Bulkers's conference presentation, Jul 2, 2020
Slide 1: Nordnet Webcast Presentation
2020 Bulkers Ltd. Nordnet Webcast Presentation 2 July, 2020 |
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been prepared by 2020 Bulkers Ltd. (the "Company") and is made 2 July, 2020 solely for information purposes. The Presentation does not constitute any recommendation to buy, sell or otherwise transact with any securities issued by the Company. No
Slide 3: Our business model
Our business model Invest at attractive entry point Full alignment of interest as The right assets - 8 Scrubber founders & management are fitted Newcastlemax with largest shareholders proven premium vs Capesize Stop investing as asset values Low cost and risk increases corporate structure Free cash
Slide 4: Unique fleet of scrubber fitted Newcastlemax
Unique fleet of 8 scrubber fitted Newcastlemax High Performing assets with proven earnings premium 15% Larger cargo intake vs. standard Capesize1) + 20% Lower fuel consumption than standard Capesize1) + 35% Fuel saving vs. non-scrubber fitted Newcastlemax2) All our ships are now delivered and are on
Slide 5: Strong commercial performance since inception
Strong commercial performance since inception 45 000 14 000 40 000 12 000 35 000 Outperformance in USD per day 10 000 30 000 TCE in USD per day 25 000 8 000 20 000 6 000 15 000 4 000 10 000 2 000 5 000 0 0 aug. 19 sep. 19 okt. 19 nov. 19 des. 19 jan. 20 feb. 20 mar. 20 apr. 20 mai. 20 2020 Bulkers F
Slide 6: Attractive cash breakeven and strong dividend potential
Attractive cash breakeven and strong dividend potential 2H 2020 2021 2022 Available ship days 1 472 2920 2920 Days on fixed timecharter 1 106 • Operating cash breakeven for the balance of Open/index linked days 366 2920 2920 2020 is estimated at US$14,056 per day • Fixed charter coverage on 6 ships
Slide 7: Market Update
SBULKERS MARKET UPDATE
Slide 8: Chinese Iron Ore inventories are at historically low levels
Source: Clarksons 20 25 30 35 40 45 50 jan. 09 apr. 09 jul. 09 okt. 09 jan. 10 apr. 10 jul. 10 okt. 10 jan. 11 apr. 11 jul. 11 okt. 11 jan. 12 apr. 12 jul. 12 okt. 12 jan. 13 apr. 13 jul. 13 okt. 13 jan. 14 apr. 14 jul. 14 okt. 14 jan. 15 apr. 15 jul. 15 okt. 15 jan. 16 apr. 16 jul. 16 okt. 16 jan.
Slide 9: Brazilian iron ore exports are picking up in line with Vale's guiding
Brazilian iron ore exports are picking up in line with Vale’s guiding for significant increase in production in 2Q-4Q vs Q1 2020 Strong correlation between Vale production and Capesize rates Brazil exports have been recovering in recent weeks Brazil iron ore shipments Million tonnes, 3-week moving a
Slide 10: Limited supply growth on the horizon and high scrapping activity
Limited supply growth on the horizon and high scrapping activity Dry bulk orderbook as % of fleet Capesize bulk newbuild contracts(1) Capesize scrapping(2) 80% 16 120 70% 14 100 60% 12 80 50% Orderbook as % of fleet 10 DWT m Million DWT 40% 60 8 30% 6 40 20% 4 10% 20 2 0% 0 2007 2005 2006 2008 2009
Slide 11: Trade growth for key commodities traded by Capesize and Newcastlemax
Trade growth for key commodities traded by Capesize and Newcastlemax has been strong and relatively stable historically World seaborne iron ore trade World seaborne coal trade 1,60 1,40 1,40 1,20 1,20 The iron ore trade has been The coal trade has been expanding 25 out of last 29 1,00 expanding 28 o