Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q1 2022 Earnings Presentation
17 slides from Jinhui Shipping & Transportation's earnings presentation, May 31, 2022
Slide 1: Jinhui Shipping and Transportation Limited Q1 2022 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q1 2022 Results Presentation 31 May 2022
Slide 2: Disclaimer
2 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
Slide 3: Highlights
Highlights Q1 2022 Financial Highlights Revenue for the quarter: US$33 million Net profit for the quarter: US$19 million included net gain on disposal of two motor vessels of US$6 million EBITDA: US$28 million Basic earnings per share: US$0.174 Gearing ratio as at 31 March 2022: 4% 3
Slide 4: Highlights
Highlights Consolidated net profit of US$19 million for current quarter mainly due to: Chartering revenue increase 102% to US$33 million, due to rebound of market dry bulk freight rates and increase of number of owned vessels as compared to last corresponding quarter; Average TCE in Q1 2022 sign
Slide 5: Highlights
Highlights Net gain of US$2.6 million was recognized in current quarter on financial assets at fair value through profit or loss, as compared to net gain of US$0.2 million from last corresponding quarter; During the quarter, the Group drawn new secured bank loan of US$15.4 million and repaid US$
Slide 6: Financial Highlights for the quarter ended 31 March 2022
Financial Highlights For the quarter ended 31 March 2022 Q1 2022 Q1 2021 2021 US$’000 (Unaudited) (Unaudited) (Audited) Revenue 32,636 16,181 131,069 Net gain on disposal of 6,146 - - owned vessels Reversal of impairment loss on - - 133,606 owned vessels EBITDA 27,992 9,397 214,984 Operating profit
Slide 7: Key Financial Ratios as at 31 March 2022
Key Financial Ratios as at 31 March 2022 Q1 2022 Q1 2021 2021 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 572,567 380,800 547,725 Secured bank loans (US$’000) 94,927 117,732 92,578 1 Current ratio 1.39 : 1 1.32 : 1 1.50 : 1 2 Net gearing 4% 12% 4% Working Capital (US$’000) 32,785 28,319
Slide 8: Our Fleet Development
Our Fleet Development 1987 1991 1992 1994 2000 2002 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Year May 38 38 36 36 36 No. of vessels owned(1) 35 28 Year to date: 31 Acquired 24 23 24 2 Supramaxes & Disposed 21 19 19 2 Supramaxes 18 24 18 Took delivery
Slide 9: Jinhui Fleet of Vessels – 24 vessels
Jinhui Fleet of Vessels – 24 vessels Fleet Size (dwt) Year built Shipyard Fleet Size (dwt) Year built Shipyard POST-PANAMAX SUPRAMAX 1 JIN LANG 93,279 2010 Jiangsu New Yangzi 13 JIN RONG 58,729 2008 Tsuneishi 2 JIN MEI 93,204 2010 Jiangsu New Yangzi 14 JIN SUI 56,968 2008 Shanghai Shipyard SUPRAMAX
Slide 10: Installation of ballast water treatment systems
Installation of ballast water treatment systems Fleet Type Size (dwt) Year built Installation of ballast water treatment systems 1 JIN XIANG Supramax 61,414 2012 Year 2022 2 JIN MAO Supramax 56,496 2012 Year 2022 3 JIN BI Supramax 56,361 2012 Year 2022 4 JIN HONG Supramax 61,414 2011 Year 2022 5 JIN
Slide 11: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 31 March 2022) Total debt as of 31 March 2022: US$95 million (2021: US$93 million) 80% 57% 60% 2021 60% Q1 2022 40% 23% 24% 20% 16% 20% 0% 1 year > 1 - 2 years > 2 - 5 years Secured bank loans represented vessel mortgage loans, revolving loans, ter
Slide 12: Cargo Volume Analysis Q1 2022
Cargo Volume Analysis Q1 2022 Q1 2022 total cargo volume 3,546,000 tonnes Q1 2021 total cargo volume Q1 2022 (%) 2,349,000 tonnes 68% Q1 2022 vs Q1 2021 26% 5% 1% Minerals Steel Products Coal* Agricultural Products * Including steaming coal and coking coal 12
Slide 13: Loading Port Analysis Q1 2022
Loading Port Analysis Q1 2022 Chartering revenue expressed by Loading Ports Asia excluding China Australia 81% China North America Q1 2022 vs Q1 2021 8% 9% 2% Q1 2022 Q1 2022 (%) Q1 2021 0.0 5.0 10.0 15.0 20.0 25.0 30.0 US$ (M) 13
Slide 14: Discharging Port Analysis Q1 2022
Discharging Port Analysis Q1 2022 Chartering revenue expressed by Discharging Ports 70% China Asia excluding China 30% Q1 2022 vs Q1 2021 Q1 2022 (%) Q1 2022 Q1 2021 0.0 5.0 10.0 15.0 20.0 25.0 US$ (M) 14
Slide 15: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 31 March 2022) Average daily time charter equivalent rate (TCE) Q1 2022 Q1 2021 2021 US$ US$ US$ Post-Panamax Fleet 22,288 12,250 19,116 Supramax Fleet 16,997 10,022 19,247 In average 17,510 10,279 19,233 15
Slide 16: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 31 March 2022) US$ 10,000 109 8,000 3,927 161 6,000 2,587 173 2,144 4,000 5,682 4,624 Running cost 2,000 3,664 Depreciation Finance cost 0 2021 Q1 2021 Q1 2022 Daily vessel running cost is calculated as the aggregate of crew exp
Slide 17: Outlook
Outlook Geopolitical risks is top on our monitor; Potential increases in US sanctions; Focus on TCT; Supply remains in control, how about demand? Opportunistic approach to growth. 17
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