Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q3 2019 Earnings Presentation
15 slides from Jinhui Shipping & Transportation's earnings presentation, Nov 29, 2019
Slide 1: Q3 2019 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q3 2019 Results Presentation 29 November 2019
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: Q3 2019 Financial Highlights
Highlights Q3 2019 Financial Highlights Revenue for the quarter: US$17 million Net loss for the quarter: US$2.0 million EBITDA: US$2.9 million Basic loss per share: US$0.018 Gearing ratio as at 30 September 2019: 7% 3
Slide 4: Highlights
Highlights Decrease in revenue for current quarter mainly due to reduction in the number of owned vessels after the disposal of three motor vessels in 3rd quarter of 2018; Recorded net loss of US$2 million for current quarter due to a net loss of US$4 million on financial assets at fair value th
Slide 5: Financial Highlights
Financial Highlights For the quarter and nine months ended 30 September 2019 Q3 2019 Q3 2018 9M 2019 9M 2018 2018 US$’000 (Unaudited) (Unaudited) QoQ (Unaudited) (Unaudited) YoY (Audited) Revenue 16,586 18,303 -9% 43,370 58,397 -26% 76,113 Net gain on disposal of - 5,012 - - 5,012 - 5,437 owned vess
Slide 6: Key Financial Ratios
Key Financial Ratios As at 30 September 2019 Q3 2019 Q3 2018 2018 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 389,019 359,876 361,637 Total debt borrowings (US$’000) 121,043 85,220 90,183 Current ratio1 1.54 : 1 1.53 : 1 2.54 : 1 Net gearing2 7% 1% 0.65% Working capital (US$’000) 44,170
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 November 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
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 2020 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 30 September 2019) Total debt as of 30 September 2019: US$121 million (2018: US$90 million) 80% 60% 51% 2018 45% Q3 2019 36% 40% 27% 19% 20% 9% 7% 6% 0% 1 year > 1 - 2 years > 2 - 5 years > 5 years 9
Slide 10: Cargo Volume Analysis Q3 2019
Cargo Volume Analysis Q3 2019 Q3 2019 total cargo volume 3,120,000 tonnes Q3 2018 total cargo volume Q3 2019 (%) 3,100,000 tonnes 91% Q3 2019 vs Q3 2018 9% Minerals Coal* * Including steaming coal and coking coal 10
Slide 11: Loading Port Analysis Q3 2019
Loading Port Analysis Q3 2019 Chartering revenue expressed by loading ports Asia excluding China Australia 90% Africa North America Q3 2019 vs Q3 2018 6% Q3 2019 (%) 1% 3% Q3 2019 Q3 2018 0.0 5.0 10.0 15.0 20.0 25.0 US$ (M) 11
Slide 12: Discharging Port Analysis Q3 2019
Discharging Port Analysis Q3 2019 Chartering revenue expressed by discharging ports 94% China Asia excluding China Q3 2019 vs Q3 2018 6% Q3 2019 (%) Q3 2019 Q3 2018 0.0 5.0 10.0 15.0 20.0 25.0 12 US$ (M)
Slide 13: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 30 September 2019) Average daily time charter equivalent rate (TCE) 2019 Q3 2018 Q3 9M 2019 9M 2018 2018 US$ US$ US$ US$ US$ Post-Panamax Fleet 11,304 11,245 8,778 11,554 11,689 Supramax Fleet 9,855 9,967 8,876 9,799 9,743 In average
Slide 14: Daily Vessel Costs of Owned Vessels
Daily Vessel Costs of Owned Vessels US$ (Based on information up to 30 September 2019) 8,000 387 6,000 364 398 2,081 2,099 2,018 4,000 2,000 4,028 3,881 3,808 Running cost Depreciation 0 Finance cost 2018 Q3 2018 Q3 2019 Daily running costs is calculated as the aggregate of crew expenses, insurance,
Slide 15: Market Outlook
Market Outlook Seasonal weakness in freight market expected in coming quarter; Scrubber retrofitting of bulkers, especially larger size will soften the pressure; Current weaker trading environment also amplified by US China trade dispute; Temporary banned on nickel ore exports by Indonesia,
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