Sincere Navigation Corporation · TWSE:2605
Sincere Navigation — HSBC Taiwan Executive Forum 2021
27 slides from Sincere Navigation's conference presentation, September 2021
Slide 1: Sincere Navigation Corporation Company Presentation
新 興 2021 航 Sincere Navigation Corporation 運 September 2021 Company Presentation 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 Kamsarmax 14 dry bulk and tanker vessels, with an average age of 11 years and 2 VLCC 3 about 2.7mn dwt. VLCC VLOC Key Highlights: VLOC 1 Capesize Anchored by multiple generations of ship
Slide 3: Company Overview
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) Total Fleet: 14 Kamsarmax 14% VLCC (Tanker): 3 VLCC 22% VLCC VLOC: 1 VLOC Capesize: 8 VLOC Capesize Kamsarmax: 2 7% Kamsarmax Capesize 57% 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 Diligence, Discretion, and leading dry bulk owner‐ Services Improvements. operator. Crude Oil Taking advantage of With more than 50 years of Transportation opportunities, while management expertise, mana
Slide 7: Company history timeline
1987 1968 Acquired Karson Navigation and Tai Hsing Navigation, and 2001 2004 2021 Sincere Navigation reorganized with “Sincere Established wholly A fleet of 14 ships was established Navigation Corporation” as owned subsidiary Established Haihu Maritime with about 2.7 million with one handysize the s
Slide 8: Industry Outlook 2021
Industry Outlook 2021 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 Delta variant influence reduce the pandemic International conventions on environmental globally, increasing airline and traveling demand protection requirements
Slide 10: VLCC Market Dynamics
VLCC Market Dynamics OPEC Production & VLCC Earnings Tanker 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 21 August 2021 07:49 Built | Delivered Vessels | Delivered Dwt | Orderbook Vessels | Orderbook Dwt 2016 47 14,330,159 2017 50 15,234,032 2018 39 12,128,620 2019 68 21,058,144 2020 37 11,280,702 2021 24 7,391,642 9 2,797,300 2022 43 12,994,456 2023 25 7,586,400 © Clarkson Re
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 Delta variant influence. reduce the pandemic globally and global The politic war between China and Australia economy is gradually recovering. (China prohibit t
Slide 14: Bulk Dry Market Freight Index trends and Spot Earning
Bulk Dry Market Freight Index trends and Spot Earning Baltic Capesize Index Trends Bulkcarrier 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
Capesize New Building Created 21 August 2021 07:51 Built Delivered Vessels Delivered Dwt Orderbook Vessels Orderbook Dwt 2016 103 19,669,105 2017 75 15,314,948 2018 51 14,259,757 2019 80 19,040,630 2020 112 24,997,196 2021 61 13,110,099 30 6,704,400 2022 43 8,750,700 2023 33 6,336,000 2024 12 2,438,
Slide 19: Panamax Vessel New Building
Panamax Vessel New Buidling Created 21 August 2021 07:52 Built Delivered Vessels Delivered Dwt Orderbook Vessels Orderbook Dwt 2016 114 9,406,805 2017 109 8,922,846 2018 68 5,636,547 2019 138 11,379,975 2020 146 12,089,408 2021 72 6,021,981 41 3,395,493 2022 80 6,704,380 2023 60 4,977,200 2024 5 398
Slide 20: Handymax New Building
Handymax New Building Created 21 August 2021 07:53 Built Delivered Vessels Delivered Dwt Orderbook Vessels Orderbook Dwt 2016 213 13,021,833 2017 172 10,506,173 2018 90 5,585,556 2019 132 8,172,477 2020 147 9,154,794 2021 75 4,547,661 52 3,101,400 2022 114 6,887,372 2023 35 2,117,280 2024 3 192,000
Slide 21: Handysize New Building
Handysize New Building Created 21 August 2021 07:54 Built Delivered Vessels Delivered Dwt Orderbook Vessels Orderbook Dwt 2016 135 4,823,387 2017 107 3,741,179 2018 92 3,030,118 2019 93 3,032,198 2020 84 2,686,179 2021 86 2,311,770 55 1,542,563 2022 71 2,365,000 2023 25 924,060 2024 3 121,560 © Clar
Slide 22: New Building Price
New Building Price Newbuilding Year End, $m. Three Month Prices .... 2018 2019 2020 || Aug | Trend... Tankers VLCC 320,000 dwt 92.5 92.0 85.5 102.5 |FIRMER.... 8.3% Suezmax 157,000 dwt || 605 61.5 56.0 70.0 |FIRMER.... 10.0% Aframax 115,000 dwt 48.0 48.5 46.5 56.0 |FIRMER.... 7.6% ‘MR’ Tanker 51,000
Slide 23: Strategic Outlook 2021
Strategic Outlook 2021 新興航運股份有限公司 Sincere Navigation Corporation
Slide 24: 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 25: 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 is key currently at 11 years, in‐line with approach to asset replacement. the 11 years of the total bulk fleet average. Continued commitment to a stable divide
Slide 26: Sincere Navigation Fleet
Sincere Navigation Fleet 新興航運股份有限公司 Sincere Navigation Corporation 26
Slide 27: Investor Relation Contact
2605.TW 新興航運 Sincere Navigation Corporation Investor Relation Contact Spokesperson: Ms. Kathy Chen sncad@snc.com.tw +886‐2‐2703‐7055 新興航運股份有限公司 Sincere Navigation Corporation
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