Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q3 2024 Earnings Presentation
19 slides from Jinhui Shipping & Transportation's earnings presentation, Nov 26, 2024
Slide 1: Q3 2024 Results Presentation
Q3 2024 RESULTS PRESENTATION Jinhui Shipping and Transportation Limited 26 November 2024
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 the
Slide 3: Highlights
Highlights Q3 2024 FINANCIAL HIGHLIGHTS ► Revenue for the quarter: US$46 million ► EBITDA: US$22 million ► Net profit for the quarter: US$8 million ► Basic earnings per share: US$0.070 9-MTH 2024 FINANCIAL HIGHLIGHTS ► Revenue for the period: US$115 million ► EBITDA: US$55 million ► Net profit for t
Slide 4: Highlights for Q3 2024
Highlights for Q3 2024 ► Given the rebound of market freight rates driven by robust demand for dry bulk commodities, limited supply of vessels and the increase in number of owned and chartered-in vessels, the Group recorded a significant increase in performance for the nine months ended 2024. ► The
Slide 5: Highlights for Q3 2024
Highlights for Q3 2024 ► The daily running costs of owned vessels slightly increased from US$5,181 of Q3 2023 to US$5,302 of Q3 2024 as certain initial running costs and expenses were incurred for newly delivered vessels. ► Net gain on financial assets at fair value through profit or loss of US$2.1
Slide 6: Fleet Overview
Fleet Overview ► As at 30 September 2024, twenty four owned vessels and nine chartered-in vessels, with total carrying capacity of approximately 2,152,000 metric tons. ► In Q3 2024, the Group entered into contract to acquire a 2008-built Capesize, at a consideration of US$24 million, to be delivered
Slide 7: Financial Highlights
Financial Highlights For the quarter and nine months ended 30 September 2024 Q3 2024 Q3 2023 9M 2024 9M 2023 2023 US$’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 45,585 20,038 114,724 57,265 81,868 Net loss on disposal of owned - - - - (880) vessels Impairment loss on owned
Slide 8: Key Financial Ratios
Key Financial Ratios As at 30 September 2024 Q3 2024 Q3 2023 2023 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 514,291 494,767 483,633 Total equity (US$’000) 367,514 371,652 349,930 Secured bank loans (US$’000) 87,068 85,092 88,167 Current ratio1 1.16 : 1 1.77 : 1 1.75 : 1 Net gearing2 1
Slide 9: Our Fleet Development
Our Fleet Development (Based on information up to 25 Nov 2024) 1991 2007 2024 Group Found Listed Oslo Børs Took Delivery Jinhui Shipping listed on Operation with 38 Oslo Stock Exchange Owned Vessels Listed HKEx 1st Order in China Fleet Expansion Parent Jinhui Holdings 8 Supramaxes from Carrying capa
Slide 10: Jinhui Fleet
Jinhui Fleet Vessel Size (dwt) Year built Shipyard Owned vessels in operation 1 2 JIN LI JIN HENG 81,567 63,518 2019 2014 Jiangsu Hantong Jiangsu Hantong 3 JIN PING 63,485 2014 Jiangsu Hantong • operating 24 owned vessels 4 JIN CHAO 63,469 2014 Jiangsu Hantong 5 JIN RUI 63,435 2014 Jiangsu Hantong •
Slide 11: Jinhui Fleet
Jinhui Fleet Chartered-in vessels in operation Type Long Term Short Term Total Chartered Chartered Panamax 2 1 3 Ultramax / Supramax 2 3 5 Total 4 4 8 Long Term Chartered-in Vessel Size (dwt) Year built 1 PACIFIC LILY 61,452 2016 2 PACIFIC JASMINE 61,473 2016 3 EVER SHINING 81,842 2021 4 TAHO CIRCUL
Slide 12: Debt Maturity Profile
Debt Maturity Profile Total debt as of 30 Sep 2024: 80% 73% US$87 million (2023: US$88 million) 70% 63% 60% * Vessel mortgage loans were fully repaid in first half of 2024 50% * Secured bank loans represented revolving loans, term 37% loans and property mortgage 40% loans which were secured by the G
Slide 13: Cargo Mix Analysis
Cargo Mix Analysis Q3 2024 Cargo Mix (%) 80% 72% 70% 60% Total cargo volume 50% 40% 30% 20% 15% 4.55 10% 5% 2% 1% 5% Million tonnes (Q3 2023 3.81mt) 0% Q3 2023 Q3 2024 * Including steaming coal and coking coal 13
Slide 14: Distribution of Cargo
Distribution of Cargo Loading Ports Analysis Q3 2024 US$M North China 24 America 22 2% 29% 20 Asia 18 excluding 16 China 14 50% 12 10 8 Africa 6 6% 4 2 0 South Australia America 8% 5% Q3 2024 Q3 2023 Chartering revenue expressed by loading ports Australian ureau o Statistics Geo ames icroso t avin o
Slide 15: Distribution of Cargo
Distribution of Cargo Discharging Ports Analysis Q3 2024 Europe 3% North China America US$M 5% 40% 20 Asia 18 excluding 16 China 14 35% 12 10 Africa 8 6 17% 4 2 0 Q3 2024 Q3 2023 Chartering revenue expressed by discharging ports Australian ureau o Statistics Geo ames icroso t avin o pen laces penStr
Slide 16: TCE of Jinhui Fleet
TCE of Jinhui Fleet Average Daily Time Charter Equivalent Rate (TCE) Q3 2024 Q3 2023 9M 2024 9M 2023 2023 Type US$ US$ US$ US$ US$ Capesize Fleet 23,788 - 23,788 - - Panamax Fleet 14,555 15,104 16,254 10,987 13,126 Ultramax / Supramax Fleet 15,228 8,531 14,170 8,416 8,892 In Average 15,290 8,796 14,
Slide 17: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels US$ • Daily vessel running cost is calculated as the aggregate of crew expenses, insurance, consumable stores, spare parts, repairs and maintenance and 10,000 US$8,933 US$9,212 other vessels’ miscellaneous expenses divided by US$8,769 ownership days during
Slide 18: Outlook
Outlook ► We expect market to be muted in the next few months. ► As fleet expands, we look to increase revenue visibility. ► Continue to look for renewal opportunities. ► Balance growth and financial stability. 18
Slide 19: Thank You
Thank You
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