Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q1 2019 Earnings Presentation
15 slides from Jinhui Shipping & Transportation's earnings presentation, May 31, 2019
Slide 1: Q1 2019 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q1 2019 Results Presentation 31 May 2019
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’s management's examination of historical operating trends. Although the Company believes that th
Slide 3: Highlights: Q1 2019 Financial Highlights
Highlights Q1 2019 Financial Highlights Revenue for the quarter: US$13 million • Decrease by 29% as compared to Q1 2018 due to weak in market freight rates at start of the year - • US-China trade conflict • Chinese restrictions on coal imports • slow world GDP growth rates • accidents at iron ore
Slide 4: Highlights
Highlights Disposes a Supramax in early of Jan 2019 at US$7.4m, with net gain of US$0.6m; During the quarter, the Group drawn new revolving loans of US$33m for working capital purposes; Invests US$4.3m in real estate market which expects generate steady and recurring stream of income for the G
Slide 5: Financial Highlights
Financial Highlights For the quarter ended 31 March 2019 Q1 2019 Q1 2018 2018 US$’000 (Unaudited) (Unaudited) QoQ (Audited) Revenue 12,765 17,976 -29% 76,113 Net gain on disposal of - - - 5,437 owned vessels Operating profit 2,943 3,311 -11% 11,874 Net profit for the period / 1,965 2,471 -20% 8,713
Slide 6: Key Financial Ratios
Key Financial Ratios As at 31 March 2019 Q1 2019 Q1 2018 2018 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 390,487 356,218 361,637 Total debt borrowings (US$’000) 116,627 88,248 90,183 Return on equity1 0.78% 1.00% 3.51% Return on total assets2 0.52% 0.65% 2.27% Current ratio3 1.88 : 1 1
Slide 7: 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 May Year 38 38 36 36 36 Disposed No. of vessels owned(1) 35 1 Supramax 28 in Q1 2019 31 24 Disposed 23 Acquired 8 vessels Disposed Disposed 1 Supramax in 2016 5 vessels 4 ve
Slide 8: Competitive Fleet with High Cargo Flexibility
Competitive Fleet with High Cargo Flexibility Fleet Type Size (dwt) Year built Status Shipyard 1 Jin Lang Post-Panamax 93,279 2010 Owned Jiangsu New Yangzi 2 Jin Mei Post-Panamax 93,204 2010 Owned Jiangsu New Yangzi 3 Jin Xiang Supramax 61,414 2012 Owned Oshima 4 Jin Hong Supramax 61,414 2011 Owned
Slide 9: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 31 March 2019) Total debt as of 31 March 2019: US$117 million (2018: US$90 million) 80% 60% 2018 46% 45% Q1 2019 36% 40% 27% 19% 20% 9% 11% 7% 0% 1 year > 1 - 2 years > 2 - 5 years > 5 years 9
Slide 10: Cargo Volume Analysis Q1 2019
Cargo Volume Analysis Q1 2019 Q1 2019 total cargo volume 3,971,000 tonnes Q1 2018 total cargo volume Q1 2019 (%) 4,280,000 tonnes 81% 16% Q1 2019 vs Q1 2018 1% 2% Minerals Steel Products Coal* Cement * Including steaming coal and coking coal 10
Slide 11: Loading Port Analysis Q1 2019
Loading Port Analysis Q1 2019 Chartering revenue expressed by loading ports 88% Asia excluding China Australia China Q1 2019 vs Q1 2018 8% Q1 2019 (%) 4% Q1 2019 Q1 2018 0.0 5.0 10.0 15.0 20.0 US$ (M) 11
Slide 12: Discharging Port Analysis Q1 2019
Discharging Port Analysis Q1 2019 Chartering revenue expressed by discharging ports 91% China Asia excluding China 9% Q1 2019 vs Q1 2018 Q1 2019 (%) Q1 2019 Q1 2018 0.0 5.0 10.0 15.0 20.0 US$ (M) 12
Slide 13: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 31 March 2019) Average daily time charter 2019 2018 equivalent rate (TCE) Q1 Q1 2018 US$ US$ US$ Post-Panamax Fleet 6,262 11,480 11,689 Supramax Fleet 7,827 8,537 9,743 In average 7,658 8,795 9,922 13
Slide 14: Daily Vessel Costs of Owned Vessels
Daily Vessel Costs of Owned Vessels US$ (Based on information up to 31 March 2019) 8,000 387 6,000 404 457 2,081 2,097 2,237 4,000 2,000 4,028 3,641 3,459 Running cost Depreciation 0 Finance cost 2018 Q1 2018 Q1 2019 Daily running costs is calculated as the aggregate of crew expenses, insurance, con
Slide 15: Market Outlook
Market Outlook Instability in global trade due to the tense US-China relationship; Market sentiment likely to remain weak until more clarity on geopolitical events; Global economic growth to remain sluggish; Trade volume in dry bulk likely to remain stable, expect further changes in long ter
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