Genco Shipping & Trading Limited · NYSE:GNK
Genco Shipping & Trading — Q3 2016 Earnings Presentation
22 slides from Genco Shipping & Trading's earnings presentation, Nov 3, 2016
Slide 1: Q3 2016 Earnings Call
Genco Shipping & Trading Limited Q3 2016 Earnings Call November 3rd, 2016
Slide 2: Forward Looking Statements
Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use
Slide 3: Agenda
Agenda Third Quarter and Year to Date 2016 Highlights Financial Overview Industry Overview 3
Slide 4: Third Quarter 2016 and Year to Date Highlights
Third Quarter 2016 and Year to Date Highlights
Slide 5: Third Quarter 2016 and Year to Date Highlights
Third Quarter 2016 and Year to Date Highlights Net loss attributable to Genco Shipping & Trading Limited of $27.5 million for the third quarter of 2016 ― Basic and diluted loss per share of $3.80 Maintained a cash position of $59.8 million, including restricted cash, as of September 30, 2016 E
Slide 6: Genco Fleet List
Genco Fleet List* Vessel Name Year Built Dwt Vessel Name Year Built Dwt Vessel Name Year Built Dwt Capesize Capesize Supramax Handysize Genco Augustus 2007 180,151 Genco Warrior 2005 55,435 Genco Reliance 1999 29,952 13 Genco Tiberius 2007 175,874 Genco Hunter 2007 58,729 Genco Explorer 1999 29,952
Slide 7: Financial Overview
Financial Overview
Slide 8: Third Quarter Earnings
Third Quarter Earnings Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 (Dollars in thousands, except share and per share data) (Dollars in thousands, except share and per share data) (unaudited) (un
Slide 9: September 30, 2016 Balance Sheet
September 30, 2016 Balance Sheet September 30, 2016 December 31, 2015 (Dollars in thousands) (unaudited) BALANCE SHEET DATA: Cash (including restricted cash) $ 59,843 $ 140,889 Current assets 87,818 172,529 Total assets 1,493,456 1,714,663 Current liabilities (excluding current portion of long-term
Slide 10: Third Quarter Highlights
Third Quarter Highlights Three Months Ended Nine Months Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 (unaudited) (unaudited) FLEET DATA: Total number of vessels at end of period 69 69 69 69 Average number of vessels (1) 69.0 68.6 69.5 68.2 Total ownership days fo
Slide 11: Industry Overview
Industry Overview
Slide 12: Market Update and Industry Overview
Market Update and Industry Overview Baltic Dry Index (BDI Points) 2,500 2,000 1,500 1,000 500 0 2014 2015 2016 Source: Clarkson Research Services Limited 2016 12
Slide 13: Recent Market Developments
Recent Market Developments Iron Ore Imports by Country(1) Recent Developments (Mt) 120 China EU Japan South Korea During Q3 2016, freight rates rose from the lower levels experienced earlier in the year primarily due to: 100 ― Firm iron ore demand due to increased Chinese steel 80 production ― Inc
Slide 14: Global Steel Production
Global Steel Production Global Steel Production (million tons) (1) September 2016 September 2015 % Variance 9 Mos 2016 9 Mos 2015 % Variance China 68.2 65.6 3.9% 603.8 601.4 0.4% European Union 13.3 13.5 -1.7% 121.3 127.4 -4.8% Japan 8.4 8.6 -1.5% 78.4 78.8 -0.5% India 7.9 7.3 8.5% 71.1 67.1 5.9% So
Slide 15: Coal Demand
Coal Demand Coal Power Plant Stockpiles(1) 300 120 45 China and India Coal Imports 40 275 (2010-2015)(2) 100 China India 35 250 China China Stockpiles (MT) India Stockpiles (MT) 80 30 India 225 25 MT 60 200 20 175 40 15 10 150 20 5 125 0 0 100 2010 2011 2012 2013 2014 2015 Through September 2016,
Slide 16: Supply Side Fundamentals
Supply Side Fundamentals Current Drybulk Vessel Orderbook by Type Drybulk Vessel Deliveries vs. Scrapping (mdwt) Capesize Panamax Handymax Handysize (mdwt) Deliveries Scrapping Net Additions 28 3.5% 16 Peak Newbuilding orderbook as 14 24 a percentage of the fleet is 12 Jan 2013 currently 12% 20 2.
Slide 17: Supply Side Fundamentals
Supply Side Fundamentals Vessel Demoliton Vessel Demoliton (mdwt) Average Age (Years) YTD 2016 YTD 2016 FY 2015 2016 YTD 2015 2014 Annualized Capesize 20 21 24 Capesize 12.67 15.36 15.44 Panamax 20 22 24 Panamax 7.24 8.77 6.34 Supramax 23 26 27 Supramax 4.02 4.88 3.59 Handysize 29 28 29 Handysize 2.
Slide 18: Q&A
Q&A
Slide 19: Appendix
Appendix
Slide 20: Genco Fleet Details
Genco Fleet Details (1) (2) Vessel Type Vessel Name Year Built Charterer Charter Expiration Cash Daily Rate Genco Augustus 2007 Swissmarine Services S.A. February 2017 $7,800 Genco Tiberius 2007 Cargill International S.A. December 2016 98% of BCI Capesize $3,250 with 50% profit Genco London 2007 Swi
Slide 21: Genco Fleet Details
Genco Fleet Details* (1) (2) Vessel Type Vessel Name Year Built Charterer Charter Expiration Cash Daily Rate (10) Genco Brittany 2010 Clipper Sapphire Pool May 2017 Spot Pool (10) Genco Languedoc 2010 Clipper Sapphire Pool May 2017 Spot Pool Supramax Genco Normandy 2007 Tongli Samoa Shipping Co., Lt
Slide 22: Footnotes to Genco Fleet Table
Footnotes to Genco Fleet Table (1) The charter expiration dates presented represent the earliest dates that our charters may be terminated in the ordinary course. Under the terms of each contract, the charterer is entitled to extend the time charter from two to four months in order to complete the v
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