Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q1 2024 Earnings Presentation
18 slides from Jinhui Shipping & Transportation's earnings presentation, May 31, 2024
Slide 1: Q1 2024 Results Presentation
Q1 2024 RESULTS PRESENTATION Jinhui Shipping and Transportation Limited 31 May 2024
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 the
Slide 3: Highlights
Highlights Q1 2024 FINANCIAL HIGHLIGHTS ► Revenue for the quarter: US$28 million ► Net profit for the quarter: US$2 million ► EBITDA: US$13 million ► Basic earnings per share: US$0.022 ► Gearing ratio as at 31 March 2024: 4% 3
Slide 4: Highlights for Q1 2024
Highlights for Q1 2024 ► The Group reported consolidated net profit for the quarter of US$2 million; ► Chartering revenue increased 93% to US$28 million for the current quarter as compared to US$14 million of corresponding quarter in 2023; mainly due to rebound of freight rates as a result of positi
Slide 5: Highlights for Q1 2024
Highlights for Q1 2024 ► As at 31 March 2024, secured bank loans amounted to US$59.5 million, with current portion and non-current portion of US$9.3 million and US$50.2 million respectively; ► During the quarter, net repayment of US$28.7 million bank borrowings; ► As at 31 March 2024, 22 owned vesse
Slide 6: Financial Highlights
Financial Highlights For the quarter ended 31 March 2024 Q1 2024 Q1 2023 2023 US$’000 (Unaudited) (Unaudited) (Audited) Revenue 27,894 14,430 81,868 Net loss on disposal of owned vessels - - (880) Impairment loss on owned vessels and - - (19,704) right-of-use assets EBITDA 12,946 (2,447) (11,828) Op
Slide 7: Key Financial Ratios
Key Financial Ratios As at 31 March 2024 Q1 2024 Q1 2023 2023 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 460,020 519,665 483,633 Net equity (US$’000) 351,599 398,385 349,930 Secured bank loans (US$’000) 59,500 79,371 88,167 Current ratio1 2.02 : 1 1.48 : 1 1.75 : 1 Net gearing2 4% 7% 7
Slide 8: Our Fleet Development
Our Fleet Development (Based on information up to 30 May 2024) 1991 2007 2023 Group Found Listed Oslo Børs Took Delivery Jinhui Shipping listed on Operation with 38 Oslo Stock Exchange Vessels Listed HKEx 1st Order in China BWTS Parent Jinhui Holdings 8 Supramaxes from Installation of ballast listed
Slide 9: Jinhui Fleet
Jinhui Fleet Vessel Size (dwt) Year built Shipyard Owned vessels in operation 1 JIN LI 81,567 2019 Jiangsu Hantong 2 JIN HENG 63,518 2014 Jiangsu Hantong • operating 23 owned vessels 3 JIN PING 63,485 2014 Jiangsu Hantong 4 JIN CHAO 63,469 2014 Jiangsu Hantong • total capacity of owned vessels was 5
Slide 10: Jinhui Fleet
Jinhui Fleet Chartered-in vessels in operation Type Long Term Short Term Total Chartered Chartered Panamax 2 1 3 Ultramax / Supramax 2 4 6 Total 4 5 9 Long Term Chartered-in Vessel Size (dwt) Year built 1 PACIFIC LILY 61,452 2016 2 PACIFIC JASMINE 61,473 2016 3 EVER SHINING 81,842 2021 4 TAHO CIRCUL
Slide 11: Debt Maturity Profile
Debt Maturity Profile 90% 84% Total debt as of 31 Mar 2024: 80% US$59.5 million (2023: US$88.2 million) 70% 63% 60% Secured bank loans represented vessel mortgage loans, revolving 50% loans, term loans and property mortgage loans which were 40% 37% secured by the Group’s motor vessels, land & buildi
Slide 12: Cargo Mix Analysis
Cargo Mix Analysis Q1 2024 Cargo Mix (%) 45% 40% 40% 35% Total cargo volume in tonnes 30% 29% 25% 19% 20% 15% 10% 2.61 5% 4% 3% 1% 4% Million tonnes (Q1 2023 3.63mt) 0% Q1 2023 Q1 2024 * Including steaming coal and coking coal 12
Slide 13: Distribution of Cargo: Loading Ports
Distribution of Cargo Loading Ports Analysis Q1 2024 Europe 4% North China America 4% 22% US$M Asia 14 excluding 12 China 10 45% 8 6 Africa 4 2 5% 0 South Australia America 5% 15% Q1 2024 Q1 2023 Chartering revenue expressed by loading ports 13
Slide 14: Distribution of Cargo: Discharging Ports
Distribution of Cargo Discharging Ports Analysis Q1 2024 Europe 1% North China America 9% 38% US$M Asia 14 excluding 12 China 10 43% 8 6 Africa 4 2 8% 0 South America 1% Q1 2024 Q1 2023 Chartering revenue expressed by discharging ports 14
Slide 15: TCE of Jinhui Fleet
TCE of Jinhui Fleet Average Daily Time Charter Equivalent Rate (TCE) Q1 2024 Q1 2023 2023 Type US$ US$ US$ Panamax Fleet 17,081 13,116 13,126 Ultramax / Supramax Fleet 11,819 6,301 8,892 In Average 12,218 6,580 9,063 15
Slide 16: Daily Vessel Running Costs
Daily Vessel Running Costs (Based on information up to 31 March 2024) US$ Daily Vessel Running Cost of Owned Vessels 10,000 US$9,115 US$9,212 9,000 167 157 US$8,167 8,000 42 3,504 7,000 3,486 3,295 6,000 5,000 4,000 3,000 4,830 5,444 5,569 2,000 1,000 0 Q1 2024 Q1 2023 2023 Running Cost Depreciation
Slide 17: Outlook
Outlook ► Operating environment increasingly complex, uncertainties remain in global economic growth, geopolitical risks and interest rates outlook; ► Ship values in second hand market remain stable, freight market slowly edging upwards; ► Young and efficient second hand tonnages, from cape to mediu
Slide 18: Thank You
Thank You
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