Slide 1: IR Presentation Q4 2024
IR Presentation Q4 2024 11th February 2025 Pan Ocean
Slide 2: Disclaimer
Disclaimer This Presentation may contain certain forward-looking statements. Such forward-looking statements are affected by known and unknown risks, uncertainties and other factors, which may cause material differences in the actual results or performance of Pan Ocean from any future result or perf
Slide 3: Contents
Contents Ⅰ. IR Focus Ⅲ. Market Overview ▪ Q4 Highlight ▪ Dry Bulk Market ▪ Financial Result by Segment ▪ Dry Bulk Trading Volume ▪ Investment in Vessels ▪ Major Dry Bulk Import in China ▪ Long-term Contracts ▪ Dry Bulk Carrier ▪ Dry Bulk Orderbook & Demolition Ⅱ. Business Overview Appendix. ▪ Shareh
Slide 4: I. IR Focus
Ⅰ. IR Focus ▪ Q4 Highlight ▪ Financial Result by Segment ▪ Investment in Vessels ▪ Long-term Contracts
Slide 5: Q4 Highlight
IR FOCUS Q4 Highlight (based on consolidated financial statements) Cargo(mil. MT) Sales(bil. KRW) Operating Profit(bil. KRW) BDI 1,675.5 USD 1,209mil. ’23.12/4 3,346 1,276.8 1,233.4 USD 941mil. USD 902mil. 1,028.2 USD 777mil. 975.5 USD 734mil. 135.2 128.1 USD 99mil. USD 94mil. 109.8 98.2 USD78mil. U
Slide 6: Financial Result by Segment
IR FOCUS Financial Result by Segment Dry Bulk Container Tanker LNG Sales Operating Profit (Unit : bil. KRW) Sales Operating Profit (Unit : bil. KRW) Sales Operating Profit (Unit : bil. KRW) Sales Operating Profit (Unit : bil. KRW) 884 812 789 636 626 118 98 108 92 88 94 82 87 76 85 80 40 73 61 53 38
Slide 7: Investment in Vessels / Long-term Contracts
IR FOCUS Investment in Vessels (as of the end of 2024) Type Size No. Delivery Remark 1 2025. 1(*) New TC Out with Shell (Firm Period 7Y & Charterer’s Option 3+3) LNG (5) LNGC (174K CBM) 2 2025. 1(*), 11 New TC Out with Qatar Energy (Firm Period 12Y & Charterer’s Option 4+4) 2 2025. 3, 6 New TC Out w
Slide 8: II. Business Overview
Ⅱ. Business Overview ▪ Shareholders and Dividend ▪ Cargo ▪ Fleet
Slide 9: Shareholders and Dividend
Shareholders and Dividend Major Shareholders (as of the end of 2024) Dividend Policy ◼ The company will provide cash dividend to shareholders after allocating financial results in a reasonable and balanced way to secure investment resources maintaining the soundness of financial structure. ◼ The com
Slide 10: Cargo
Cargo Duration Annual Volume (unit : mil. ton) Dry Bulk Non-Dry Bulk 112.1 104.5 103.4 13.5% 94.8 96.1 14.8% 13.6% 14.2% 15.0% 86.5% 85.8% 85.2% 86.4% 85.0% 2023 4Q 2024 1Q 2024 2Q 2024 3Q 2024 4Q 2020 2021 2022 2023 2024 Cargo Trades (2024. 4Q) Loading & Discharging Others 0.2% Mineral 1.0% 2024 4Q
Slide 11: Fleet
Fleet Fleet (no. of vessel) (Unit : no. of vessels) Fleet (DWT) (as of the end of 2024) Owned (Long term) Chartered in (over 1Y) Total Handy (10~40K) Tanker 5.1% 6 28(2) 34 Handy LNG 2.2% Panamax Handymax (40~70K) 23(10) 88(11) 111 18.0% 4.8% Container 0.7% Others 0.6% Panamax (70~100K) 13(2) 43(1)
Slide 12: III. Market Overview
Ⅲ. Market Overview ▪ Dry Bulk Market ▪ Dry Bulk Trading Volume ▪ Major Dry Bulk Import in China ▪ Dry Bulk Carrier ▪ Dry Bulk Orderbook & Demolition
Slide 13: Dry Bulk Market
Dry Bulk Market BDI Trend (2021~2025) Annual Average of BDI 2021 2022 2023 2024 2025 2025 2021 2022 2023 2024 (1/1~2/10) 6,000 5,650 BDI 2,943 1,934 1,378 1,755 898 4,000 Cape T/C Avg. 33,333 16,177 16,389 22,593 9,449 3,346 P’max T/C Avg. 26,898 20,736 12,854 14,099 8,192 2,000 S’max T/C Avg. 26,77
Slide 14: Dry Bulk Trading Volume
Dry Bulk Trading Volume (Unit : mil.Ton) Others Grain Coal Iron Ore Rate (Source : Clarksons) 6,000 5,742 5,775 5,788 10% 4.6% 4,000 5% 3.6% 3.3% 3.1% 3.4% 2.0% 0.6% 0.2% 0.5% 2,000 0% -1.1% -2.5% 0 -5% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025(F) 2026(F) (Unit : mil. ton) 2016 2017 2018 201
Slide 15: Major Dry Bulk Import in China
Major Dry Bulk Import in China (Unit : mil. Ton) (Source: China Customs) Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total YoY 2020 176.84 85.91 95.71 87.03 101.68 112.65 100.36 108.55 106.74 98.15 96.75 1,170.37 9.3% 2021 91.00 90.50 102.11 98.57 89.79 89.42 88.51 97.49 95.61 91.61 104.96
Slide 16: Dry Bulk Carrier
Dry Bulk Carrier (Unit : mil. DWT) Cape P’max H’max Handy Rate (Source : Clarksons) 1,034.0 1,065.2 1,097.0 1,000 10% 750 500 5% 4.0% 3.8% 3.6% 3.0% 2.9% 3.1% 3.1% 3.0% 3.0% 2.9% 2.2% 250 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025(F) 2026(F) (Unit : mil. Dwt) 2016 2017 2018 2019 2020 202
Slide 17: Dry Bulk Orderbook & Demolition
Dry Bulk Orderbook & Demolition Orderbook & Delivery schedule (Source : Clarksons) 2025 2026 2027 ~ Total No. of vessel mil. DWT No. of vessel mil. DWT No. of vessel mil. DWT No. of vessel mil. DWT Cape 40 8.0 47 10.0 58 13.1 145 31.1 P'max 140 11.5 163 13.5 137 11.5 440 36.5 H'max 200 12.6 157 10.0
Slide 18: Appendix
Appendix. ▪ Financial Result ▪ Annual Result by Segment ▪ Grain Trading Business ▪ Tanker Market Index 18
Slide 19: Financial Result (KRW)
Financial Result (KRW) (Unit : bil. KRW) 2023 2024 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total BDI average 1,011 1,313 1,194 2,033 1,378 1,824 1,848 1,871 1,465 1,755 Sales 996.4 1,224.7 1,111.6 1,028.2 4,361.0 975.5 1,233.4 1,276.8 1,675.5 5,161.2 Cost of sales 859.3 1,071.5 1,007.2 923.2 3,861.2 851.7 1,0
Slide 20: Financial Result (USD)
Financial Result (USD) (Unit : mil. USD) 2023 2024 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total BDI average 1,011 1,313 1,194 1,194 1,378 1,824 1,848 1,871 1,465 1,755 Sales 782 933 847 777 3,339 734 902 941 1,209 3,786 Cost of sales 674 816 768 697 2,956 641 784 826 1,109 3,359 Gross Profit 108 117 79 79 38
Slide 21: Annual Result by Segment (2020~2024)
Annual Result by Segment (2020~2024) (Unit : bil. KRW) Dry Bulk Container Tanker LNG Sales Operating Profit Sales Operating Profit Sales Operating Profit Sales Operating Profit 2,943 1,934 4,464 1,775 509 1,378 343 348 3,296 401 172 1,066 3,110 366 306 2,782 353 247 103 94 1,514 515 540 83 143 140 1
Slide 22: Grain Trading Business
Grain Trading Business Cargo ('000 MT) Sales (bil. KRW) 520.1 252.7 210.9 203.1 199.7 181.8 174.3 180.9 165.1 126.3 122.2 121.2 1,156 1,107 94.2 99.6 79.7 591 568 568 363 428 422 369 49.0 409 359 345 299 321 283 112 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2021 2022 2023 2024 ➢ In 2025, achie
Slide 23: Tanker Market Index
Tanker Market Index (Unit : USD) VLCC (Unit : USD) MR 2022 2023 2024 2025 2022 2023 2024 2025 120,000 60,000 70,000 40,000 20,000 20,000 -30,000 0 Jan Apr Jul Oct Jan Apr Jul Oct * BDTI (BALTIC DIRTY TANKER INDEX) - TD3 (M.E.GULF - CHINA) * BCTI (BALTIC CLEAN TANKER INDEX) - TC7 (SINGAPORE - AUSTRAL