Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q1 2021 Earnings Presentation
19 slides from Jinhui Shipping & Transportation's earnings presentation, May 21, 2021
Slide 1: Jinhui Shipping and Transportation Limited Q1 2021 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q1 2021 Results Presentation 21 May 2021
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
Highlights Q1 2021 Financial Highlights Revenue for the quarter: US$16 million Net profit for the quarter: US$5 million EBITDA: US$9 million Basic earnings per share: US$0.048 Gearing ratio as at 31 March 2021: 12% 3
Slide 4: Highlights
Highlights Consolidated net profit of US$5 million for current quarter mainly due to: chartering revenue increase 76% due to rebound of market dry bulk freight rates as compared to last corresponding quarter; net gain of US$1.4 million on bunker was recognized during the quarter; decrease in
Slide 5: Highlights
Highlights During the quarter, the Group drawn new secured bank loan of US$12.6 million and repaid US$3.2 million. A Supramax which was contracted to be disposed at consideration of US$5.5 million in December 2020 was delivered to the purchaser during the quarter; Acquired a 2004-built Suprama
Slide 6: Financial Highlights For the quarter ended March 2021
Financial Highlights For the quarter ended 31 March 2021 US$’000 Q1 2021 Q1 2020 2020 (Unaudited) (Unaudited) (Audited) Revenue 16,181 9,214 47,118 Operating profit (loss) before depreciation / amortization and 9,397 (13,604) 3,266 finance costs Operating profit (loss) 5,751 (17,278) (11,902) Financ
Slide 7: Key Financial Ratios
Key Financial Ratios As at 31 March 2021 Q1 2021 Q1 2020 2020 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 380,800 383,390 366,164 Secured bank loans (US$’000) 117,732 129,722 108,345 Current ratio1 1.32 : 1 1.22 : 1 1.38 : 1 Net gearing2 12% 23% 15% Working Capital (US$’000) 28,319 18,2
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 Year May 38 38 36 36 36 Acquired No. of vessels owned(1) 35 28 1 Supramax & 31 Disposed 1 Supramax 24 23 in Q1 2021 21 19 19 18 18 Took delivery of 3 vessels 19 To
Slide 9: Jinhui Fleet of Vessels
Jinhui Fleet of Vessels 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 Oshima 5 JIN YUE Supra
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 WAN Supramax 56,897 2009 Year 2021 2 JIN TONG Supramax 56,952 2008 Year 2021 3 JIN CHENG Supramax 53,806 2004 Year 2021 4 JIN XIANG Supramax 61,414 2012 Year 2022 5
Slide 11: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 31 March 2021) Total debt as of 31 March 2021: US$117.7 million (2020: US$108.3 million) 80% 59% 52% 2020 60% Q1 2021 35% 40% 30% 13% 11% 20% 0% 1 year > 1 - 2 years > 2 - 5 years Secured bank loans represented vessel mortgage loans, revolving loan
Slide 12: Cargo Volume Analysis Q1 2021
Cargo Volume Analysis Q1 2021 Q1 2021 total cargo volume 2,349,000 tonnes Q1 2020 total cargo volume Q1 2021 (%) 3,669,000 tonnes 68% Q1 2021 vs Q1 2020 8% 24% Minerals Steel Products Coal* Cement * Including steaming coal and coking coal 12
Slide 13: Loading Port Analysis Q1 2021
Loading Port Analysis Q1 2021 Chartering revenue expressed by loading ports Asia excluding China 78% Australia China Q1 2021 vs Q1 2020 14% 8% Q1 2021 (%) Q1 2021 Q1 2020 0.0 3.0 6.0 9.0 12.0 15.0 US$ (M) 13
Slide 14: Discharging Port Analysis Q1 2021
Discharging Port Analysis Q1 2021 Chartering revenue expressed by discharging ports 77% China Asia excluding China 23% Q1 2021 vs Q1 2020 Q1 2021 (%) Q1 2021 Q1 2020 0.0 3.0 6.0 9.0 12.0 15.0 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 2021) Average daily time charter equivalent rate (TCE) Q1 2021 Q1 2020 2020 US$ US$ US$ Post-Panamax Fleet 12,250 8,223 9,929 Supramax Fleet 10,022 5,007 6,986 In average 10,279 5,349 7,269 15
Slide 16: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 31 March 2021) US$ 8,000 6,000 242 173 333 2,141 2,144 2,091 4,000 2,000 3,851 3,460 3,664 Running cost Depreciation 0 Finance cost 2020 Q1 2020 Q1 2021 Daily vessel running cost is calculated as the aggregate of crew expenses,
Slide 17: Investment in Dry Bulk Newbuildings
Investment in Dry Bulk Newbuildings US$m Source: Clarkson Research Services Limited 2020 16,000 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2
Slide 18: Global Dry Bulk Fleet Growth at Historical Low
Global Dry Bulk Fleet Growth at Historical Low % of fleet Source: Clarkson Research Services Limited 2020 90 80 70 60 50 40 30 20 7.22% 6.29% 10 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Year 18
Slide 19: Outlook
Outlook Freight market expected to stabilize at favourable levels; Healthy demand of dry commodities across the board, from iron ore, coal grain, nickel and timber; Supply of new vessels remains low, strong support for asset values; Opportunities approach to potential bolt an acquisition of
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