Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — FY2020 Earnings Presentation
19 slides from Jinhui Shipping & Transportation's earnings presentation, Feb 25, 2021
Slide 1: Q4 2020 and 2020 Annual Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q4 2020 and 2020 Annual Results Presentation 25 February 2021
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 2020 Financial Highlights Revenue for the quarter: US$15 million Net profit for the quarter: US$8 million EBITDA: US$12 million Basic earnings per share: US$0.069 Year 2020 Financial Highlights Revenue for the year: US$47 million Net loss for the year: US$15 million EBITD
Slide 4: Highlights
Highlights Consolidated net loss of US$15 million for current year mainly due to: 1. poor business sentiment by the outbreak of COVID-19, leading to a reduction in chartering freight and hire revenue; 2. significant unrealized fair value loss on financial assets at fair value through profit or
Slide 5: Highlights
Highlights Acquired a Supramax at consideration of US$4 million in July 2020; Contract to dispose a Supramax at consideration of US$5.5 million in Dec 2020 and was delivered to purchaser in Jan 2021. Additional US$2.1 million has been paid to the co-investment property project in Shanghai; wit
Slide 6: Financial Highlights
Financial Highlights For the quarter and year ended 31 December 2020 US$’000 Q4 2020 Q4 2019 2020 2019 (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 15,137 19,790 47,118 63,160 Operating profit before depreciation / amortization 12,174 10,568 3,266 24,180 and finance costs Operating profit (
Slide 7: Key Financial Ratios
Key Financial Ratios As at 31 December 2020 2020 2019 (Unaudited) (Audited) Total assets (US$’000) 366,164 406,433 Secured bank loans (US$’000) 108,345 133,915 1 Current ratio 1.38 : 1 1.39 : 1 2 Net gearing 15% 14% Working Capital (US$’000) 28,503 34,458 3 Available liquidity (US$’000) 73,220 97,66
Slide 8: 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 2021 February Year 38 38 36 36 36 Acquired 1 Supramax No. of vessels owned(1) 35 28 in Q3 2020 Disposed Disposed 31 8 vessels 4 vessels 23 24 in 2016 in 2018 Disposed D
Slide 9: Jinhui Fleet of Vessels
Jinhui Fleet of Vessels Fleet Type Size (dwt) Year built Status Shipyard 1 JIN LANG Post-Panamax 93,279 2010 Owned Jiangsu New Yangzi 2 JIN MEI Post-Panamax 93,204 2010 Owned Jiangsu New Yangzi 3 JIN XIANG Supramax 61,414 2012 Owned Oshima 4 JIN HONG Supramax 61,414 2011 Owned Oshima 5 JIN YUE Supra
Slide 10: Installation of ballast water treatment systems
Installation of ballast water treatment systems Fleet Type Size (dwt) Year built Installation of ballast water treatment systems 1 JIN WAN Supramax 56,897 2009 Year 2021 2 JIN TONG Supramax 56,952 2008 Year 2021 3 JIN XIANG Supramax 61,414 2012 Year 2022 4 JIN HONG Supramax 61,414 2011 Year 2022 5 J
Slide 11: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 31 December 2020) Total debt as of 31 December 2020: US$108 million (2019: US$134 million) 80% 60% 51% 52% 2019 2020 35% 35% 40% 20% 10% 13% 4% 0% 0% 1 year > 1 - 2 years > 2 - 5 years > 5 years Secured bank loans represented vessel mortgage loans,
Slide 12: Cargo Volume Analysis 2020
Cargo Volume Analysis 2020 2020 total cargo volume 9,873,000 tonnes 2019 total cargo volume 2020 (%) 12,276,000 tonnes 70% 2020 vs 2019 6% 20% 4% Minerals Steel Products Coal* Cement * Including steaming coal and coking coal 12
Slide 13: Loading Port Analysis 2020
Loading Port Analysis 2020 Chartering revenue expressed by loading ports Asia excluding China Australia 85% Africa China 2020 vs 2019 12% 2% 1% 2020 (%) 2020 2019 0.0 20.0 40.0 60.0 US$ (M) 13
Slide 14: Discharging Port Analysis 2020
Discharging Port Analysis 2020 Chartering revenue expressed by discharging ports 94% China Asia excluding China 2020 vs 2019 6% 2020 (%) 2020 2019 0.0 20.0 40.0 60.0 80.0 US$ (M) 14
Slide 15: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 31 December 2020) Average daily time charter equivalent rate (TCE) 2020 Q4 2019 Q4 2020 2019 US$ US$ US$ US$ Post-Panamax Fleet 11,891 12,122 9,929 9,628 Supramax Fleet 9,173 11,336 6,986 9,522 In average 9,487 11,419 7,269 9,533 15
Slide 16: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 31 December 2020) US$ 8,000 362 174 6,000 412 242 2,040 2,158 2,084 2,141 4,000 2,000 3,927 4,467 4,271 3,851 Running cost Depreciation 0 Finance cost 2019 2020 Q4 2019 Q4 2020 Daily vessel running cost is calculated as the aggr
Slide 17: Investment in Dry Bulk Newbuildings
Investment in Dry Bulk Newbuildings US$m Source: Clarkson Research Services Limited 2020 16,000 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2
Slide 18: Global Dry Bulk Fleet Growth at Historical Low
Global Dry Bulk Fleet Growth at Historical Low % of fleet Source: Clarkson Research Services Limited 2020 90 80 70 60 50 40 30 20 7.22% 6.29% 10 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Year 18
Slide 19: Outlook
Outlook Worldwide economy on recovery path as COVID-19 pressure eases with vaccines rolling out Business confidence slowly recovering, as with consumers’ confidence Signs of some easing in political tensions Monetary policy remains accommodative going forward Restocking and procurement of
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