Pacific Basin Shipping Limited · HKEX:2343
Pacific Basin Shipping — H1 2009 Earnings Presentation
15 slides from Pacific Basin Shipping's earnings presentation, Sep 1, 2009
Slide 1: Pacific Basin
P ifi B Pacific Basin i 1 Sep 2009
Slide 2: Segment reporting – P/L areas of explanation
Pacific Basin Segment reporting – P/L / areas off explanation 3 p.42 of interim report 1 2 4 2
Slide 3: Segment Result – Handysize
Dry Bulk · Towage · RoRo Pacific Basin 1 Segment Result – Handysize 1H09 1H08 % Change 2008 Revenue days (days) 12,460 12,480 - 24,890 TCE earnings (US$/day) 13,610 32,580 -58% 58% 29,600 Owned + chartered cost (US$/day) 9,380 14,470 -35% 14,960 S Segment t nett profits fit (US$m) (US$ ) 52 1 52.1 2
Slide 4: Segment Result – Handymax
Dry Bulk · Towage · RoRo Pacific Basin Segment Result – Handymax 1H09 1H08 % Change 2008 Revenue days (days) 5,150 5,210 -1% 11,050 TCE earnings (US$/day) 19,840 49,150 -60% 60% 44,610 Owned + chartered cost (US$/day) 17,580 41,980 -58% 40,070 S Segment t nett profits fit (US$m) (US$ ) 11 5 11.5 36
Slide 5: Segment reporting – All other segments
Pacific Basin 2 Segment reporting – All other segments 5
Slide 6: What are in “All other segments”?
Pacific Basin What are in “All other segments”? Fujairah Bulk Shipping (“FBSL”) Port and Port Services Maritime Management Services FBSL APMIG PacMarine • JV in Middle East for supplying • Focusing on the Nanjing • Provision of marine consultancy rock and aggregates using tugs, Longtan Tianyu Termin
Slide 7: All other segments - Where the operations appear
Pacific Basin All other segments - Where Wh th the operations ti appear 1H09 Maritime Management US$ m Services Revenue 8.6 PacMarine Amortisation of Direct costs (4 9) (4.9) FBSL acquisition acquisition- Mainly related intangible China assets General & Admin (2.1) Other expenses (2.6) Interest from
Slide 8: Segment reporting – “Unallocated-others”
Pacific Basin 3 Segment g reporting p g – “Unallocated-others” 8
Slide 9: What is “Unallocated – Others”?
Pacific Basin What is “Unallocated – Others”? p.26 of interim report Impact of financial instruments US$ m 1H09 Unrealised Realised 1H09 Revenue FFAs (31.3) 19.0 (12.3) (31 3) (31.3) Bunker swap 43.4 (10.4) 33.0 Interest rate swap 2.9 (1.5) 1.4 Bunker & port Net 15.0 7.1 22.1 disbursements 43.4 Writ
Slide 10: Segment reporting – Reclassification
Pacific Basin 4 Segment reporting – Reclassification 10
Slide 11: Why “Reclassify”? – Accounting standards
Pacific Basin Why “Reclassify”? Reclassify ? – Accounting standards Move net US$ m 1H09 bunker Move derivatives onerous R Revenue 12.3 income to 12.3 contract direct costs write back Bunker & port Move & split from direct disbursements 94.7 127.7 (33.0) net FFA costs to expenses to other income othe
Slide 12: Segment reporting – Balance Sheet areas of explanation
Pacific Basin Segment reporting – Balance Sheet S areas off explanation 5 6 12
Slide 13: What do segment assets represent?
Pacific Basin 5 What do segment assets represent? All other Unallocated Total Drybulk Towage RoRos Treasury segments Others US$ $m Total assets 2,406.1 743.9 155.6 222.1 143.5 1,096.8 44.2 Includes: PP&E 912 0 912.0 594.0 120 7 120.7 181 1 181.1 16 2 16.2 - - JVs 44.3 - 7.3 - 33.7 - 3.3 Associate 2.
Slide 14: What do segment liabilities represent?
Pacific Basin 6 What do segment g liabilities represent? p All other Unallocated Total D b lk Drybulk T Towage R R RoRos Treasury segments Others US$ m Total liabilities 982.5 323.6 50.4 0.1 6.4 586.1 15.9 Includes: Borrowings 826.9 206.5 39.3 - - 581.1 - Specific Group general facilities Derivative
Slide 15: Disclaimer
Pacific Basin Disclaimer This presentation contains certain forward looking statements with respect to the financial condition, results of operations and business of Pacific Basin and certain plans and objectives of the management of Pacific Basin. Such forward looking statements involve known and u
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