Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q3 2020 Earnings Presentation
19 slides from Jinhui Shipping & Transportation's earnings presentation, Nov 30, 2020
Slide 1: Jinhui Shipping and Transportation Limited Q3 2020 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q3 2020 Results Presentation 30 November 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: Q3 2020 Financial Highlights
Highlights Q3 2020 Financial Highlights Revenue for the quarter: US$14 million Net profit for the quarter: US$0.9 million EBITDA: US$5 million Basic earnings per share: US$0.008 Gearing ratio as at 30 September 2020: 20% 3
Slide 4: Highlights
Highlights Recorded consolidated net profit for current quarter mainly due to decrease in net loss on financial assets at fair value through profit or loss as compared to last corresponding quarter; A realized gain of US$0.4 million from financial assets at fair value through profit or loss was
Slide 5: Highlights
Highlights Acquired a Supramax at consideration of US$4 million in July 2020; Received a further update from the Investment Manager of Co-investment in property on 21 August 2020 that due to unexpected COVID-19 pandemic that has broadly affected different economic sectors, the vendor of Tower A
Slide 6: Financial Highlights
Financial Highlights For the quarter and nine months ended 30 September 2020 US$’000 Q3 2020 Q3 2019 9M 2020 9M 2019 2019 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 14,257 16,586 31,981 43,370 63,160 Operating profit (loss) before depreciation / 5,249 2,948 (8,908) 13,612 24,1
Slide 7: Key Financial Ratios
Key Financial Ratios As at 30 September 2020 Q3 2020 Q3 2019 2019 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 366,400 389,019 406,433 Secured bank loans (US$’000) 118,591 121,043 133,915 Current ratio1 1.21 : 1 1.54 : 1 1.39 : 1 Net gearing2 20% 7% 14% Working Capital (US$’000) 16,928 4
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 November June Year 38 38 36 36 36 Acquired No. of vessels owned(1) 35 1 Supramax Disposed Disposed 28 in Q3 2020 31 8 vessels 4 vessels 24 in 2016 in 2018 23 Disposed A
Slide 9: Jinhui Fleet
Jinhui Fleet 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 Supramax 56,934
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 30 September 2020) Total debt as of 30 September 2020: US$119 million (2019: US$134 million) 80% 60% 51% 51% 2019 Q3 2020 35% 36% 40% 20% 10% 13% 4% 0% 0% 1 year > 1 - 2 years > 2 - 5 years > 5 years Secured bank loans represented vessel mortgage l
Slide 12: Cargo Volume Analysis Q3 2020
Cargo Volume Analysis Q3 2020 Q3 2020 total cargo volume 2,269,000 tonnes Q3 2019 total cargo volume Q3 2020 (%) 3,120,000 tonnes 88% Q3 2020 vs Q3 2019 12% Minerals Coal* * Including steaming coal and coking coal 12
Slide 13: Loading Port Analysis Q3 2020
Loading Port Analysis Q3 2020 Chartering revenue expressed by loading ports Asia excluding China 87% Australia Q3 2020 vs Q3 2019 13% Q3 2020 (%) Q3 2020 Q3 2019 0.0 3.0 6.0 9.0 12.0 15.0 18.0 US$ (M) 13
Slide 14: Discharging Port Analysis Q3 2020
Discharging Port Analysis Q3 2020 Chartering revenue expressed by discharging ports 93% China Asia excluding China Q3 2020 vs Q3 2019 7% Q3 2020 (%) Q3 2020 Q3 2019 0.0 3.0 6.0 9.0 12.0 15.0 18.0 US$ (M) 14
Slide 15: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 30 September 2020) Average daily time charter equivalent rate (TCE) 2020 Q3 2019 Q3 9M 2020 9M 2019 2019 US$ US$ US$ US$ US$ Post-Panamax Fleet 11,805 11,304 9,050 8,778 9,628 Supramax Fleet 8,386 9,855 6,248 8,876 9,522 In average 8
Slide 16: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 30 September 2020) US$ 8,000 6,000 412 398 193 2,084 2,018 2,109 4,000 2,000 3,927 3,808 3,486 Running cost Depreciation 0 Finance cost 2019 Q3 2019 Q3 2020 Daily vessel running cost is calculated as the aggregate of crew expens
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 • Recovering demand with slowly easing COVID-19 worries; • Environmental regulations leads to uncertainty in next generation technology for commercial vessels = low investment appetite; • Maritime funding remains to be available on a selected basis despite a low interest rate environment; •
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