Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q2 2021 Earnings Presentation
19 slides from Jinhui Shipping & Transportation's earnings presentation, Aug 17, 2021
Slide 1: Q2 2021 Results Presentation
JINHUI SHIPPING AND TRANSPORTATION LIMITED Q2 2021 Results Presentation 17 August 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 Q2 2021 Financial Highlights Revenue for the quarter: US$32 million Net profit for the quarter: US$86 million, included reversal of impairment loss on owned vessels of US$65.5 million EBITDA: US$90 million Basic earnings per share: US$0.783 Interim dividend per share: US$0.03 3
Slide 4: Highlights
Highlights Consolidated net profit of US$86 million for current quarter mainly due to: chartering revenue increase 275% due to remarkable rebound of market freight rates as compared to last corresponding quarter; average daily time charter equivalent rates increase 266% to US$19,149 for curren
Slide 5: Highlights
Highlights During the quarter, the Group repaid US$17.7 million bank loans; Acquired a 2006-built Supramax at consideration of US$9.3 million and was delivered in Q2 2021; Acquired a 2004-built Supramax at consideration of US$10.8 million in May 2021 and will be delivered in August 2021; Aft
Slide 6: Financial Highlights
Financial Highlights For the quarter and six months ended 30 June 2021 US$’000 Q2 2021 Q2 2020 1H 2021 1H 2020 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 31,902 8,510 48,083 17,724 47,118 Reversal of impairment loss on 65,521 - 65,521 - - owned vessels Operating profit (l
Slide 7: Key Financial Ratios
Key Financial Ratios As at 30 June 2021 Q2 2021 Q2 2020 2020 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 452,059 369,085 366,164 Secured bank loans (US$’000) 100,013 121,609 108,345 Current ratio1 1.61 : 1 1.24 : 1 1.38 : 1 Net gearing2 N/A 22% 15% Working Capital (US$’000) 48,187 18,71
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 August Year 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 Acquired Took delivery of 3 v
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 QUAN Supramax 52,525 2006 Year 2021 4 JIN CHENG Supramax 53,806 2004 Year 2021 5 J
Slide 11: Debt Maturity Profile
Debt Maturity Profile (Based on information up to 30 June 2021) Total debt as of 30 June 2021: US$100 million (2020: US$108 million) 80% 58% 52% 2020 60% Q2 2021 35% 33% 40% 13% 20% 9% 0% 1 year > 1 - 2 years > 2 - 5 years Secured bank loans represented vessel mortgage loans, revolving loans, term
Slide 12: Cargo Volume Analysis Q2 2021
Cargo Volume Analysis Q2 2021 Q2 2021 total cargo volume Q2 2020 2,576,000 tonnes total cargo volume 1,890,000 tonnes Q2 2021 (%) 100% Q2 2021 vs Q2 2020 Minerals Steel Products Coal* Cement * Including steaming coal and coking coal 12
Slide 13: Loading Port Analysis Q2 2021
Loading Port Analysis Q2 2021 Chartering revenue expressed by loading ports Asia excluding China Australia 90% China Europe Q2 2021 vs Q2 2020 7% 2% 1% Q2 2021 (%) Q2 2021 Q2 2020 0.0 5.0 10.0 15.0 20.0 25.0 30.0 US$ (M) 13
Slide 14: Discharging Port Analysis Q2 2021
Discharging Port Analysis Q2 2021 Chartering revenue expressed by discharging ports 99% China Asia excluding China 1% Q2 2021 vs Q2 2020 Q2 2021 (%) Q2 2021 Q2 2020 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 US$ (M) 14
Slide 15: TCE of Jinhui Shipping's Owned Vessels
TCE of Jinhui Shipping’s Owned Vessels (Based on information up to 30 June 2021) Average daily time charter equivalent rate (TCE) 2021 Q2 2020 Q2 2021 1H 2020 1H 2020 US$ US$ US$ US$ US$ Post-Panamax Fleet 12,250 5,750 12,250 7,382 9,929 Supramax Fleet 20,000 5,194 15,182 5,096 6,986 In average 19,1
Slide 16: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels US$ (Based on information up to 30 June 2021) 8,000 267 154 6,000 242 2,071 2,210 2,141 4,000 2,000 4,185 4,538 3,851 Running cost Depreciation 0 Finance cost 2020 Q2 2020 Q2 2021 Daily vessel running cost is calculated as the aggregate of crew expenses, i
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 Favourable demand supply balance Good support for healthy freight rates Disruptions in marine logistics due to COVID Double edge sword Economic or geopolitical surprises can be unpredictable Prudent with leverage, ad hoc opportunities in management of tonnage 19
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