Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q3 2022 Earnings Presentation
18 slides from Jinhui Shipping & Transportation's earnings presentation, Nov 28, 2022
Slide 1: Jinhui Shipping and Transportation Limited Q3 2022 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q3 2022 Results Presentation 28 November 2022
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 t
Slide 3: Q3 2022 Financial Highlights
Q3 2022 Financial Highlights Revenue for the quarter: US$40 million Net profit for the quarter: US$0.3 million EBITDA: US$12 million Basic earnings per share: US$0.003 Gearing ratio as at 30 September 2022: 7% 3
Slide 4: Highlights – Q3 2022
Highlights – Q3 2022 Reported net profit of US$0.3 million; Chartering revenue decreased 2% to US$40 million, due to weakening of dry bulk market during the quarter; while the number of owned and chartered-in vessels was increased as compared to last corresponding quarter in 2021; Reported ave
Slide 5: Highlights – Q3 2022
Highlights – Q3 2022 Net loss of US$4.3 million was recognized in current quarter on financial assets at fair value through profit or loss, as compared to net loss of US$2.9 million from last corresponding quarter; During the quarter, drawdown of new secured bank loans of US$24.4 million for fin
Slide 6: Financial Highlights
Financial Highlights For the quarter and nine months ended 30 September 2022 Q3 2022 Q3 2021 9M 2022 9M 2021 2021 US$’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 39,579 40,405 122,844 88,488 131,069 Net gain on disposal - - 6,146 - - of owned vessels Reversal of impairment
Slide 7: Key Financial Ratios as at 30 September 2022
Key Financial Ratios as at 30 September 2022 Q3 2022 Q3 2021 2021 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 605,060 465,505 547,725 Secured bank loans (US$’000) 94,888 95,829 92,578 1 Current ratio 1.31 : 1 1.54 : 1 1.50 : 1 2 Net gearing 7% N/A 4% Working Capital (US$’000) 22,392 43,
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 November Year 38 38 36 36 36 Year to date: No. of vessels owned(1) 35 Acquired 31 28 5 Supramaxes Disposed 24 23 24 2 Supramaxes & 2 Post-Panamaxes 21 19 19 1
Slide 9: Jinhui Fleet of Vessels – 25 owned vessels
Jinhui Fleet of Vessels – 25 owned vessels Fleet Size (dwt) Year built Shipyard Fleet Size (dwt) Year built Shipyard SUPRAMAX 1 JIN HENG 63,518 2014 Jiangsu Hantong 14 JIN RONG 58,729 2008 Tsuneishi 2 JIN PING 63,485 2014 Jiangsu Hantong 15 JIN SUI 56,968 2008 Shanghai Shipyard 3 JIN CHAO 63,469 201
Slide 10: Jinhui - Chartered-in Vessel
Jinhui - Chartered-in Vessel Fleet Type Size (dwt) Year built Charter-in date Expiry TAHO CIRCULAR Panamax 84,484 2022 Jun 2022 Feb 2029 As of 27 November 2022, we are operating 1 chartered-in vessel. 10
Slide 11: 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 RONG Supramax 58,729 2008 Year 2023 2 JIN SUI Supramax 56,968 2008 Year 2023 3 JIN GANG Supramax 56,927 2009 Year 2024 11
Slide 12: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 30 September 2022) Total debt as of 30 September 2022: US$95 million (2021: US$93 million) 80% 57% 51% 2021 60% Q3 2022 40% 23% 26% 20% 23% 20% 0% 1 year > 1 - 2 years > 2 - 5 years Secured bank loans represented vessel mortgage loans, revolving lo
Slide 13: Cargo Volume Analysis Q3 2022
Cargo Volume Analysis Q3 2022 Q3 2022 total cargo volume 4,125,000 tonnes Q3 2021 total cargo volume Q3 2022 (%) 2,702,000 tonnes 84% Q3 2022 vs Q3 2021 8% 8% Minerals Steel Products Coal* * Including steaming coal and coking coal 13
Slide 14: Loading Port Analysis Q3 2022
Loading Port Analysis Q3 2022 Chartering revenue expressed by Loading Ports Asia excluding China Australia 77% China 14% Q3 2022 vs Q3 2021 9% Q3 2022 (%) Q3 2022 Q3 2021 0.0 10.0 20.0 30.0 40.0 50.0 US$ (M) 14
Slide 15: Discharging Port Analysis Q3 2022
Discharging Port Analysis Q3 2022 Chartering revenue expressed by Discharging Ports 78% China Asia excluding China 22% Q3 2022 vs Q3 2021 Q3 2022 (%) Q3 2022 Q3 2021 0.0 10.0 20.0 30.0 40.0 50.0 US$ (M) 15
Slide 16: TCE of Jinhui Shipping’s Fleet
TCE of Jinhui Shipping’s Fleet (Based on information up to 30 September 2022) Average daily time charter equivalent rate (TCE) Q3 2022 Q3 2021 9M 2022 9M 2021 2021 US$ US$ US$ US$ US$ Post-Panamax / Panamax 20,607 20,248 21,593 14,806 19,116 Fleet Supramax Fleet 19,408 23,963 21,125 18,254 19,247 In
Slide 17: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 30 September 2022) US$ Running cost Depreciation Finance cost 12,000 185 10,000 8,000 4,202 137 161 2,814 6,000 2,587 4,000 6,095 4,624 4,992 2,000 0 2021 Q3 2021 Q3 2022 Daily vessel running cost is calculated as the aggregate
Slide 18: Outlook
Outlook Increasing uncertainty in global economic growth; Inflationary pressure and interests rate cycle translates to reducing investment appetite across the board; Limited newbuilding orders given economic and regulatory outlook both uncertain; Geopolitical risks continue to linger; Comp
Jinhui Shipping and Transportation — Q3 2022 Earnings Presentation on 6ix