Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — Investor Presentation (September 2022)
17 slides from Pangaea Logistics Solutions's investor presentation, September 2022
Slide 1: Investor Presentation September 2022
NASDAQ: PANL Investor Presentation September 2022
Slide 2: Safe Harbor
SA F E H A R B O R This presentation may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s
Slide 3: We are a unique ocean transportation and logistics company
We are a unique ocean transportation and logistics company, HQ in Newport, RI Denmark Greece Commercial Technical United States Headquarters/Commercial Singapore • We own 25 ships Commercial • We short term charter in 25-35 ships every day • We operate a worldwide fleet of 50-60 ships • We control c
Slide 4: We manage major and minor dry bulk commodities around the world
We manage major and minor dry bulk commodities around the world • Iron ore • Bauxite • Aggregates • Iron products and steel feedstock • Coal • Fertilizer • Cement and clinker • Agricultural *FY2021 in Metric Tons
Slide 5: Positive Market Fundamentals: Limited Supply/Growing Demand
Positive Market Fundamentals: Limited Supply/Growing Demand Restrained Supply • Low order book • Favorable world fleet age profile • Environmental regulations • Supply Chain Inefficiencies Increasing Demand • Positive ton mile projections • Global economic growth • Global Infrastructure Investments
Slide 6: Why Pangaea Logistics Solutions?
Why Pangaea Logistics Solutions? We’re a U.S.- Based High Performer
Slide 7: How do we do it? Pangaea's A/B/C Differentiation and Advantage
How do we do it? Pangaea’s “A/B/C” Differentiation and Advantage: A Ice Class Niche ✓ Use ships as tools to implement cargo strategies that build deeper customer relationships B Cargo Focused Owner/Operator ✓ Demonstrated industry leading TCE performance ✓ Long history of profitability across volati
Slide 8: A/B/C Sustainable Business Approach to Shipping: Ice Class Niche
A/B/C Sustainable Business Approach to Shipping A Ice Class Niche Niche Trades deliver premium returns: Ice and Arctic Specialization Vessel Name** Type DWT Year Built Nordic Nuluujaak Post-Panamax 1A 95,758 2021 Nordic Qinngua Post-Panamax 1A 95,758 2021 Nordic Sanngijuq Post-Panamax 1A 95,758 2021
Slide 9: A/B/C Sustainable Business Approach to Shipping: Cargo Focused Owner/Operator
A/B/C Sustainable Business Approach to Shipping B Cargo Focused Owner/Operator Pangaea Days* Cargo Focus Responds to Customer Needs • Ten-year contracts, direct industrial/trading relationships provide stream of fixed revenue for stability in a volatile industry - Owned vessel days • Basis for inves
Slide 10: Cargo Market Volatility: Risk and Opportunity
Cargo Market Volatility: Risk and Opportunity • Rising market: Owned open shipping days directly benefit Cargo bookings risk losses if not covered Low cost chartered in fleet profits • Falling market: Owned ships still profitable Cargo bookings profitable High cost chartered in fleet produces losses
Slide 11: A/B/C Sustainable Business Approach to Shipping: Stevedoring, Terminals & Project Services
Moriusaq, Greenland A/B/C Sustainable Business Approach to Shipping • Pop-up port utilizing Pangaea owned barge C Stevedoring, Terminals, & Project Services • Trial shipment of high value commodity in high arctic Gramercy, Louisiana • Stevedoring services with JV partner Port Rousse, Newfoundland •
Slide 12: The Pangaea Difference: A Sustainable Business Approach to Shipping
The Pangaea Difference: A Sustainable Business Approach to Shipping • Unique Attack niche markets Fix contract coverage Employ flexible charter-in fleet • Industrial Address long term customer needs Deliver supply chain solutions • Dynamic Micro-fleet growth and vertical integration Macro-integral t
Slide 13: Income Statement Information
INCOME STATEMENT INFORMATION (in thousands,may not foot due to rounding) Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Voyage revenue $ 173,189 $ 117,395 $ 349,526 $ 225,626 Charter revenue 22,355 28,149 37,781 44,
Slide 14: Selected Balance Sheet & Cash Flow Data
SELECTED BALANCE SHEET & CASH FLOW DATA (in thousands) June 30, 2022 December 31, 2021 Current Assets Cash and cash equivalents $ 102,175 $ 56,209 Accounts receivable, net 41,100 54,259 Other current assets 90,888 73,495 Total current assets 234,163 183,964 Fixed assets, including finance lease righ
Slide 15: TCE Outlook
TCE OUTLOOK * Q3 22 estimated TCE performance based on shipping days performed through August 5, 2022 **Average of the published Panamax and Supramax index net of commission
Slide 16: Management has consistently demonstrated an ability to execute a long-term strategy
Management has consistently demonstrated an ability to execute a long-term strategy through the dry bulk cycle STRONG PERFORMANCE THROUGH THE WORST MARKETS US$m BDI 600 6,000 7 498 500 5,000 400 4,000 2 2* 2 4 300 3,000 2 1 247 225 228 221 200 2,000 162 134 105 100 1,000 67 55 51 39 39 42 27 11 18 1
Slide 17: Thank You
THANK YOU We
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