Sincere Navigation Corporation · TWSE:2605
Sincere Navigation — KGI Securities Investor Conference (June 2021)
28 slides from Sincere Navigation's conference presentation, Jun 18, 2021
Slide 1: Sincere Navigation Corporation Company Presentation
新 興 航 Sincere Navigation Corporation 運 18 June 2021 Company Presentation th 新興航運股份有限公司 Sincere Navigation Corporation
Slide 2: Company Overview
Company Overview Key Facts Fleet Profile Sincere Navigation (”Sincere”), established in 1968, owns and operates Handymax, 1 VLCC, 3 15 dry bulk and tanker vessels, with an average age of 11 years and VLCC almost 3mn dwt. VLOC, 1 VLOC Kamsarmax, 2 Capesize Key Highlights: Kamsarmax Anchored by mult
Slide 3: Company Overview 2021
Company Overview 2021 新興航運股份有限公司 Sincere Navigation Corporation
Slide 4: Sincere Navigation Fleet Summary
Sincere Navigation Fleet Summary Tankers Dry Bulk Stable Diligence Improving VLCC Capesize • Placed in Tankers International Pool, to achieve • Carries major commodities, like iron ore, coal. long-term commercial management stability. • Flexible operations between spot and mid and long-term period m
Slide 5: Sincere Navigation Fleet (by # of vessels)
Sincere Navigation Fleet (by # of vessels) [CATEGORY VLOC NAME] 6% Total Fleet: 15 [PERCENTAGE VLOC ] VLCC (Tanker): 3 Handymax Capesize VLOC: 1 12% Kamsarmax Capesize: 8 Capesize 53% Handymax Kamsarmax: 2 Kamsarmax VLCC Handymax: 1 12% (Tanker) 新興航運股份有限公司 Sincere Navigation Corporation 5
Slide 6: Principles and Services
1968 Principles Established Sincere Credibility, Decisiveness, Navigation in Taiwan, a leading dry bulk owner- Services Diligence, Discretion, and Improvements. operator. Crude Oil Taking advantage of With more than 50 years of Transportation opportunities, while management expertise, mana
Slide 7: Sincere Navigation was established with one handysize ship
1987 1968 Acquired Karson Navigation and Tai Hsing Navigation, and 2001 2004 2021 Sincere Navigation reorganized with “Sincere was established Established wholly A fleet of 15 ships Navigation Corporation” as Established Haihu Maritime with about 3 million with one handysize owned subsidiary the sur
Slide 8: Industry Outlook
Industry Outlook 新興航運股份有限公司 Sincere Navigation Corporation
Slide 9: 2021 Tanker Market Positive / Negative Drivers
2021 Tanker Market Positive / Negative Drivers Positive Drivers Negative Factors Covid-19 vaccine successfully developed to Covid-19 pandemic influence reduce the pandemic globally and inspire the OPEC+ reduce down the production in order airline and traveling economic prosperous. to escalate
Slide 10: VLCC Market Dynamics
VLCC Market Dynamics Crude Demand Growth Curve Tank Spot Earnings Source: Clarkson SIN, 6 January, 2020 新興航運股份有限公司 Sincere Navigation Corporation 10
Slide 11: VLCC Spot Earnings
VLCC Spot Earnings 新興航運股份有限公司 Sincere Navigation Corporation 13
Slide 12: VLCC New Building
VLCC New Building Created 13 June 2021 09:25 Built | Delivered Vessels | Delivered Dwt | Delivered GT | Delivered CGT } Orderbook Vessels } Orderbook Dwt | Orderbook GT 2016 47} 14,330,159] 7,444,123 2,075,583 2017 50} 15,234,032] 7,894,866 2,204,189 2018 39} 12,128,620] 6,246,642 1,733,375 2019 68}
Slide 13: 2021 Dry Bulk Market Positive / Negative Drivers
2021 Dry Bulk Market Positive / Negative Drivers Positive Drivers Negative Factors Covid-19 vaccine successfully developed to Covid-19 pandemic influence. reduce the pandemic globally and inspire The politic war between China and Australia the economic prosperous. (China prohibit to import of
Slide 14: Bulk Dry Market Freight Index trends and Spot Earning
Bulk Dry Market Freight Index trends and Spot Earning Baltic Dry Index Trends Bulkmarket Spot Earnings 新興航運股份有限公司 Sincere Navigation Corporation
Slide 15: Capesize Spot Rates Earning
Capesize Spot Rates Earning 新興航運股份有限公司 Sincere Navigation Corporation 16
Slide 16: Panamax Spot Earnings & Trip Charter Rates
Panamax Spot Earnings & Trip Charter Rates Source: Clarkson SIW, 3 January, 2020 新興航運股份有限公司 Sincere Navigation Corporation 16
Slide 17: Supramax Trip Charter Rates
Supramax Trip Charter Rates 新興航運股份有限公司 Sincere Navigation Corporation 17
Slide 18: Capesize New Building (100,000 dwt or above)
Capesize New Building (100,000 dwt or above )
Slide 19: Panamax Vessel New Building (65,000-99,999 dwt)
Panamax Vessel New Buidling ( 65,000-99,999 dwt )
Slide 20: Ultramax New Building (40,000-64,999 dwt)
Ultramax New Building (40,000-64,999 dwt)
Slide 21: Handysize New Building (10,000-39,999 dwt)
Handysize New Building (10,000-39,999 dwt)
Slide 22: New Building Price
New Building Price Market 2020 VLCC NB 85 Capesize NB 46.5 13,000 TEU NB 102 LNG NB 186 2021 96 97.5 124.5 189 Previ... 95 o/ 123 189 Latest 96 57.5 124.5 189
Slide 23: Strategic Outlook 2021
Strategic Outlook 2021 新興航運股份有限公司 Sincere Navigation Corporation
Slide 24: Organizational structure focused on owner-operator management of assets and people
Organizational structure focused on owner-operator management of assets and people Strong management team with low turnover, substantial experience, Board of Directors prudent management and care of assets/business, Supervisor Audit Committee and strict adherence to safety & regulations President
Slide 25: Evolution of a shipping asset
Evolution of a shipping asset Vessel Delivery Delivered and enters operations Exit Shipyard Vessel sales are a core Strong Newbuilding component of value relationships, enables creation. Timing of asset high quality vessels. sales for maximum returns. Capture the essence of what this product achieve
Slide 26: Business model focused on prudent asset management and cash flow generation
Business model focused on prudent asset management and cash flow generation Average fleet age for SNC fleet is Prudent, risk management currently at 11 years, in-line with approach to asset replacement is the 11 years of the total bulk fleet key. average. New sectors continued to be 7 out of
Slide 27: Sincere Navigation Fleet
Sincere Navigation Fleet SHIP SUMMER DWT VESSEL 船名 TYPE DELIVERY FLAG BUILDER MT ELBHOFF (海福輪) SWS VLCC 01/2017 Hong Kong 300,837 KONDOR (高登輪) SWS VLCC 01/2012 Hong Kong 296,714 MAXIM (美生輪) SWS VLCC 06/2011 Hong Kong 296,887 TIEN SHAN (天山輪) BEIHAI VLOC 03/2018 Hong Kong 250,327 BAO SHAN (寶山輪) CSBC C
Slide 28: Sincere Navigation Corporation Investor Relation Contact
2605.TW 新興航運 Sincere Navigation Corporation Investor Relation Contact Spokesperson: Mr. Jack Lee Yih-Ren sncbiz@snc.com.tw +886-2-2703-7055 新興航運股份有限公司 Sincere Navigation Corporation
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