Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q2 2023 Earnings Presentation
19 slides from Jinhui Shipping & Transportation's earnings presentation, Aug 28, 2023
Slide 1: Second Quarter 2023 Results Presentation
Second Quarter 2023 Results Presentation Jinhui Shipping and Transportation Limited 28 August 2023
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’ management's examination of historical operating trends. Although the Company believes that the
Slide 3: Highlights
Highlights Q2 2023 Financial Highlights Revenue for the quarter: US$23 million Net loss for the quarter: US$7 million Basic loss per share: US$0.060 Gearing ratio as at 30 June 2023: 8% 3
Slide 4: Highlights for Q2 2023
Highlights for Q2 2023 Given the considerable pressure in freight rates of shipping market in first half of 2023, the Group reported consolidated net loss for the current quarter of US$7 million; Chartering revenue decreased 55% to US$23 million for the current quarter as compared to US$51 million o
Slide 5: Highlights for Q2 2023
Highlights for Q2 2023 Depreciation and amortization decreased from US$9.1 million for the second quarter of 2022 to US$7.9 million for the second quarter of 2023; mainly due to the decrease in depreciation on owned vessels as a result of reduced in carrying amounts of owned vessels after the recogn
Slide 6: Financial Highlights
Financial Highlights For the quarter and six months ended 30 June 2023 Q2 2023 Q2 2022 1H 2023 1H 2022 2022 US$’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 22,797 50,629 37,227 83,265 152,466 Net gain on disposal - - - 6,146 5,636 of owned vessels Impairment loss on - - - -
Slide 7: Key Financial Ratios as at June 2023
Key Financial Ratios as at 30 June 2023 Q2 2023 Q2 2022 2022 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 501,571 605,905 538,312 Net equity (US$’000) 387,215 459,576 411,137 Secured bank loans (US$’000) 80,857 76,675 82,838 Current ratio1 1.83 : 1 1.61 : 1 1.64 : 1 Net gearing2 8% 1% 5%
Slide 8: Our Fleet Development
Our Fleet Development (Based on information up to 27 August 2023) 1991 2007 2023 Group Found Listed Oslo Børs Took Delivery Jinhui Shipping listed on Operation with 38 Oslo Stock Exchange Vessels Listed HKEx 1st Order in China BWTS Parent Jinhui Holdings 8 Supramaxes from Installation of ballast lis
Slide 9: Jinhui Fleet of Supramax Vessels
Jinhui Fleet of 24 Supramax Vessels As of 27 August 2023, we are operating 24 owned vessels with total capacity of deadweight 1,373,222 metric tons and average age of 13.83 years. Fleet Size (dwt) Year built Shipyard Fleet Size (dwt) Year built Shipyard 1 JIN HENG 63,518 2014 Jiangsu Hantong 13 JIN
Slide 10: Jinhui Chartered-in Vessel
Jinhui Chartered-in Vessel As of 27 August 2023, we are operating 1 chartered-in vessel. Fleet Type Size (dwt) Year built Chartered-in date Expiry TAHO CIRCULAR Panamax / Kamsarmax 84,484 2022 Jun 2022 Feb 2029 10
Slide 11: Installation of Ballast Water Treatment Systems
96% Jinhui vessels finished BWTS JIN GANG by 2024 Installation of Ballast Water Treatment Systems (Based on information up to 27 August 2023) 11
Slide 12: Debt Maturity Profile
Debt Maturity Profile Total debt as of 30 June 2023: US$81 million (2022: US$83 million) 53% 3-5 years 40% 18% 2 year 19% 29% 1 year 41% 0% 10% 20% 30% 40% 50% 60% Q2 2023 2022 (Based on information up to 30 June 2023) Secured bank loans represented vessel mortgage loans, revolving loans, term loans
Slide 13: Cargo Mix Analysis
Cargo Mix Analysis Minerals Coal* Steel Products Agricultural Products Cement 100% 90% 88% 80% 70% 60% Total cargo volume in tonnes 50% 40% 30% 20% Q2 2022 8% 10% 3,298,000 tonnes 1% 2% 1% 0% Q2 2023 4,443,000 tonnes Q2 2023 Cargo Mix (%) * Including steaming coal and coking coal 13
Slide 14: Distribution of Cargo: Loading Port Analysis
Distribution of Cargo Q2 2023 Loading Port Analysis Q2 2023 Chartering revenue expressed by Loading Ports 9% 1% 4% Q2 2023 vs Q2 2022 1% 7% 2% 76% Asia excluding China China Australia Europe North America Africa South America Q2 2022 Q2 2023 US$M 0 5 10 15 20 25 30 35 40 45 50 14
Slide 15: Distribution of Cargo: Discharging Port Analysis
Distribution of Cargo Q2 2023 Discharging Port Analysis Q2 2023 Chartering revenue expressed by Discharging Ports 13% Q2 2023 vs Q2 2022 2% 83% 1% 1% Asia excluding China Africa South America Europe China Q2 2022 Q2 2023 0 5 10 15 20 25 30 35 40 45 US$M 15
Slide 16: TCE of Jinhui Shipping's Fleet
TCE of Jinhui Shipping’s Fleet Average daily time charter equivalent rate (TCE) Q2 2023 Q2 2022 1H 2023 1H 2022 2022 US$ US$ US$ US$ US$ Post-Panamax / 4,719 23,171 8,894 22,569 20,180 Panamax Fleet Supramax Fleet 10,360 26,544 8,357 21,988 18,681 In average 10,132 26,397 8,379 22,029 18,813 16
Slide 17: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 30 June 2023) 5,429 3,477 156 Q2 2023 $9,062 5,924 3,830 136 Q2 2022 $9,890 5,656 4,074 155 2022 $9,885 0 2,000 4,000 6,000 8,000 10,000 US$ Running Cost Depreciation Finance Cost • Daily vessel running cost is calculated as the
Slide 18: Outlook
Outlook Global economic growth remains dampened; Industry fundamentals low supply growth offers support; Upside requires further stimulate policy from key commodity importing nations; Cautious yet nimble to any opportunities for fleet renewal / maintain young fleet profile. 18
Slide 19: Thank you
Thank you Raymond Ching www.jinhuiship.com
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