Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — Investor Presentation (April 2021)
17 slides from Pangaea Logistics Solutions's investor presentation, April 2021
Slide 1: April 2021 Update
NASDAQ: PANL April 2021 Update
Slide 2: Safe Harbor
SA F E H A R B O R This presentation may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s
Slide 3: Overview & Strategy
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D OVERVIEW & STRATEGY
Slide 4: Strategically Located
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D STRATEGICALLY LOCATED Pangaea Today: • Fully integrated cargo focused owner/operator with Denmark Greece over 25 years in business Commercial Technical • 75 shore based employees across 4 strategically located offices • Control and manage a fleet
Slide 5: Integrated Operating Platform
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D Integrated Operating Platform • Largest owned Panamax Ice • COA cover of base fleet Class 1A fleet • Secure cargo first and vessel • Four 95,000dwt Ice Class 1A second vessels on order • Optimize capital with dynamic • Providing year-round service
Slide 6: What Makes Us Different Than Your Average Tonnage Provider
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D What makes us different than your average tonnage provider: ■ Purpose Driven Ownership: ✓We own 18 ships, soon to be 23, after delivery of Ice Class NB vessels ✓We charter an additional 30 – 40 market ships on short term, or index basis to retain
Slide 7: Ice Class Differential
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D Ice Class Differential:
Slide 8: Ice Class Differential: Newbuilding Update
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D Ice Class Differential: Newbuilding Update ✓ Progress on Newbuild program ✓ Vessel 1, Nordic Nuluujaak, scheduled for May delivery ✓ 3 Remaining vessels on schedule
Slide 9: Differentiation
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D DIFFERENTIATION A Conventional Ship Owner Pangaea vs. ▪ Loves ships ✓ Uses ships as tools to implement cargo strategies ✓ First objective: build customer book / cargo trades / niche markets / ▪ First objective: Build / buy fleet barriers to entry
Slide 10: Recent Events
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D RECENT EVENTS Ice Class Newbuilds • Contracted for four 95,000 dwt newbuildings at Guangzhou Shipyard International, classed Ice 1A, $38 million each • Arranged sale/charterback through CSSC Leasing, 85% financing • Partnership with Hudson Structu
Slide 11: Financial Overview
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D FINANCIAL OVERVIEW
Slide 12: US-Listed Fleet Profiles
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D Efficiently deploying capital on specialty tonnage and nimble fleet to serve client needs US-LISTED FLEET PROFILES ✓ Selectively and efficiently deploy capital to niche or specialized fleet ✓ Flexible chartering strategy allowing the company to re
Slide 13: Q4 2020 Results: Consistent Performance & Return to Shareholders
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D. Q4 2020 Results: Consistent Performance & return to shareholders Q4 PERFORMANCE DRIVERS AND RECENT INITIATIVES Q4 Performance Drivers ■ 42% premium over average market rates in Q4’20 ■ Adjusted EBITDA of $12.9million, Net Income of $7.6million an
Slide 14: Strong Performance Through the Worst Markets
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D Management has consistently demonstrated an ability to execute a long-term strategy through the dry bulk cycle STRONG PERFORMANCE THROUGH THE WORST MARKETS US$m BDI 280 2 1 2 1 4 2 2 2* 2,400 260 247 240 2,100 225 228 221 220 209 196 1,800 200 180
Slide 15: TCE Outlook
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D TCE Outlook $25,000 6,000 $21,501 * 5,000 $20,000 $16,524 $15,915 4,000 $15,172 $14,360 $14,640 $15,000 $13,849 $13,728 $13,835 $13,316 $12,933 $12,510 $12,029 Days $11,822 TCE $11,333 3,000 $10,508 $10,733 $9,945 $10,000 2,000 $5,000 1,000 $- - Q
Slide 16: Forecasted Debt Profile
PA N G A EA LO G I S I T I C S S O LU T I O N S LT D WELL POSITIONED TO CAPITALIZE ON MARKET IMPROVEMENTS FORECASTED DEBT PROFILE HISTORICAL OPERATING CASH FLOWS
Slide 17: Thank You
T H A N K YO U
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