Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q4 2022 Earnings Presentation
18 slides from Jinhui Shipping & Transportation's earnings presentation, Feb 28, 2023
Slide 1: Q4 2022 and 2022 Annual Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q4 2022 and 2022 Annual Results Presentation 28 February 2023
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’ management's examination of historical operating trends. Although the Company believes that t
Slide 3: Q4 2022 and Year 2022 Financial Highlights
Q4 2022 Financial Highlights Revenue for the quarter: US$30 million Net loss for the quarter: US$47 million, included non-cash impairment loss on owned vessels of US$49 million Basic loss per share: US$0.428 Year 2022 Financial Highlights Revenue for the year: US$152 million Net loss for t
Slide 4: Highlights – 2022
Highlights – 2022 Reported consolidated net loss for the year of US$7 million, including an impairment loss on owned vessels of US$49 million was recognized in the fourth quarter of 2022; Chartering revenue increased 16% to US$152 million as compared to US$131 million of last year; mainly due to
Slide 5: Highlights – 2022
Highlights – 2022 Entered into a charterparty for leasing of a newly 2022-built Panamax/Kamsarmax for seven years, the vessel was delivered to the Group at the end of June 2022; During the year, drawdown of new secured bank loans of US$66.9 million for financing the acquisition of vessels and re
Slide 6: Financial Highlights
Financial Highlights For the quarter and year ended 31 December 2022 Q4 2022 Q4 2021 2022 2021 US$’000 (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 29,622 42,581 152,466 131,069 Net gain (loss) on disposal of (510) - 5,636 - owned vessels Reversal of impairment loss (Impairment loss) on own
Slide 7: Key Financial Ratios as at December 2022
Key Financial Ratios as at 31 December 2022 2022 2021 (Unaudited) (Audited) Total assets (US$’000) 538,312 547,725 Secured bank loans (US$’000) 82,838 92,578 1 Current ratio 1.64 : 1 1.50 : 1 2 Net gearing 5% 4% Working Capital (US$’000) 34,153 37,887 3 Available liquidity (US$’000) 61,504 76,407 1.
Slide 8: Our Fleet Development
Our Fleet Development (Based on information up to 27 February 2023) 1991 2007 2022 Group Found Listed Oslo Børs Took Delivery Jinhui Shipping listed on Operation with 38 Oslo Stock Exchange Vessels Listed HKEx 1st Order in China BWTS Parent Jinhui Installation of ballast 8 Supramaxes from Holdings l
Slide 9: Jinhui Fleet of Vessels – 24 owned vessels
Jinhui Fleet of Vessels – 24 owned vessels SUPRAMAX Fleet Size (dwt) Year built Shipyard Fleet Size (dwt) Year built Shipyard 1 JIN HENG 63,518 2014 Jiangsu Hantong 13 JIN JUN 56,887 2009 Shanghai Shipyard 2 JIN PING 63,485 2014 Jiangsu Hantong 14 JIN RONG 58,729 2008 Tsuneishi 3 JIN CHAO 63,469 201
Slide 10: Jinhui - Chartered-in Vessel
Jinhui - Chartered-in Vessel Fleet Type Size (dwt) Year built Charter-in date Expiry TAHO CIRCULAR Panamax/Kamsarmax 84,484 2022 Jun 2022 Feb 2029 As of 27 February 2023, we are operating 1 chartered-in vessel. 10
Slide 11: 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 RONG Supramax 58,729 2008 Year 2023 2 JIN SUI Supramax 56,968 2008 Year 2023 3 JIN GANG Supramax 56,927 2009 Year 2024 11
Slide 12: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 31 December 2022) Total debt as of 31 December 2022: US$83 million (2021: US$93 million) 80% 57% 2021 60% 41% 2022 40% 40% 23% 20% 19% 20% 0% 1 year > 1 - 2 years > 2 - 5 years Secured bank loans represented vessel mortgage loans, revolving loans,
Slide 13: Cargo Mix Analysis 2022
Cargo Mix Analysis 2022 2022 total cargo volume 14,852,000 tonnes 2021 total cargo volume 10,418,000 tonnes 2022 (%) 81% 2022 vs 2021 12% 1% 6% Minerals Steel Products Coal* Agricultural Products * Including steaming coal and coking coal 13
Slide 14: Distribution of Cargo – Loading Ports
Distribution of Cargo Loading Port Analysis 2022 Chartering revenue expressed by Loading Ports Asia excluding China Australia 83% North America Europe China 8% 2022 vs 2021 7% 1% 1% 2022 (%) 2022 2021 0 20 40 60 80 100 120 140 US$ (M) 14
Slide 15: Distribution of Cargo – Discharging Ports
Distribution of Cargo Discharging Port Analysis 2022 Chartering revenue expressed by Discharging Ports 80% 20% 2022 (%) China 2022 vs 2021 Asia excluding China 2022 2021 0 20 40 60 80 100 120 140 US$ (M) 15
Slide 16: TCE of Jinhui Shipping's Fleet
TCE of Jinhui Shipping’s Fleet (Based on information up to 31 December 2022) Average daily time charter equivalent rate (TCE) Q4 2022 Q4 2021 2022 2021 US$ US$ US$ US$ Post-Panamax / Panamax Fleet 16,168 31,580 20,180 19,116 Supramax Fleet 12,591 21,845 18,681 19,247 In average 12,879 22,808 18,813
Slide 17: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels US$ (Based on information up to 31 December 2022) 12,000 10,000 183 155 148 8,000 4,314 4,074 161 3,046 6,000 2,587 4,000 Running cost 5,656 5,667 5,920 4,624 Depreciation 2,000 Finance cost 0 2021 2022 Q4 2021 Q4 2022 Daily vessel running cost is calculat
Slide 18: Outlook
Outlook Economic stimulus polices; Resolving geopolitical conflicts will increase confidence; Supply side in check, downside protection; Full post COVID-19 recovery yet to show true colors; Short term volatility expected; Fleet ready to capture long term positive outlook; and Continuou
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