Jinhui Shipping & Transportation Ltd. · OSL:JIN
Jinhui Shipping & Transportation — Q3 2023 Earnings Presentation
18 slides from Jinhui Shipping & Transportation's earnings presentation, Nov 29, 2023
Slide 1: Third Quarter 2023 Results Presentation
Third Quarter 2023 Results Presentation Jinhui Shipping and Transportation Limited 29 November 2023
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 9-Mth 2023 Financial Highlights Revenue for the period: US$57M EBITDA for the period: US$4M Net loss for the period: US$27M Basic loss per share: US$0.250 Q3 2023 Financial Highlights Gearing ratio as at 30 September 2023: 10% Revenue for the quarter: US$20M EBITDA for the q
Slide 4: Highlights for Q3 2023
Highlights for Q3 2023 Given the considerable pressure in freight rates of shipping driven by rising interest rates, tighter monetary conditions due to inflationary pressure, as well as heightened geopolitical tensions, the Group reported consolidated net loss for the current quarter of US$8 million
Slide 5: Highlights for Q3 2023
Highlights for Q3 2023 Other operating expenses decreased as the net loss on financial assets at fair value through profit or loss in current quarter narrowing to US$0.1 million as compared to net loss of US$4.3 million from corresponding quarter in 2022. Other operating expenses also included an im
Slide 6: Financial Highlights
Financial Highlights For the quarter and nine months ended 30 September 2023 Q3 2023 Q3 2022 9M 2023 9M 2022 2022 US$’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue 20,038 39,579 57,265 122,844 152,466 Net gain on disposal - - - 6,146 5,636 of owned vessels Impairment loss on
Slide 7: Key Financial Ratios as at 30 September 2023
Key Financial Ratios as at 30 September 2023 Q3 2023 Q3 2022 2022 (Unaudited) (Unaudited) (Audited) Total assets (US$’000) 494,767 605,060 538,312 Net equity (US$’000) 371,652 456,587 411,137 Secured bank loans (US$’000) 85,092 94,888 82,838 Current ratio1 1.77 : 1 1.31 : 1 1.64 : 1 Net gearing2 10%
Slide 8: Our Fleet Development
(Based on information up to 28 November 2023) Our Fleet Development 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 l
Slide 9: Jinhui Fleet of 24 Supramax Vessels
Jinhui Fleet of 24 Supramax Vessels As of 28 November 2023, we are operating 24 owned vessels with total capacity of deadweight 1,383,971 metric tons and average age of 13.42 years. Fleet Size (dwt) Year built Shipyard Fleet Size (dwt) Year built Shipyard 1 JIN HENG 63,518 2014 Jiangsu Hantong 13 JI
Slide 10: Jinhui Chartered-in Vessel
Jinhui Chartered-in Vessel As of 28 November 2023, we are operating 1 chartered-in vessel. Fleet Type Size (dwt) Year built Chartered-in date Expiry TAHO CIRCULAR Panamax / Kamsarmax 84,484 2022 Jun 2022 Feb 2029 10
Slide 11: Debt Maturity Profile
Debt Maturity Profile Total debt as of 30 Sep 2023: US$85 million (2022: US$83 million) 18% 3-5 years 40% 45% 2 year 19% 37% 1 year 41% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Q3 2023 2022 (Based on information up to 30 September 2023) Secured bank loans represented vessel mortgage loans, revolvin
Slide 12: Cargo Mix Analysis
Cargo Mix Analysis Minerals Coal* Steel Products Agricultural Products Others 90% 80% 80% 70% 60% 50% Total cargo volume in tonnes 40% 30% 20% 10% Q3 2022 10% 7% 4,125,000 tonnes 2% 1% 0% Q3 2023 3,813,000 tonnes Q3 2023 Cargo Mix (%) * Including steaming coal and coking coal 12
Slide 13: Distribution of Cargo: Loading Port Analysis
Distribution of Cargo Q3 2023 Loading Port Analysis Q3 2023 17% Chartering revenue expressed by Loading Ports 19% Q3 2023 vs Q3 2022 64% Asia excluding China China South America Q3 2022 Q3 2023 US$M 0 5 10 15 20 25 30 35 13
Slide 14: Distribution of Cargo: Discharging Port Analysis
Distribution of Cargo Q3 2023 Discharging Port Analysis Q3 2023 Chartering revenue expressed by Discharging Ports 9% 1% Q3 2023 vs Q3 2022 73% 3% 14% Asia excluding China China South America Europe Others Q3 2022 Q3 2023 0 5 10 15 20 25 30 35 US$M 14
Slide 15: TCE of Jinhui Shipping's Fleet
TCE of Jinhui Shipping’s Fleet Average daily time charter equivalent rate (TCE) Q3 2023 Q3 2022 9M 2023 9M 2022 2022 US$ US$ US$ US$ US$ Post-Panamax / 15,104 20,607 10,987 21,593 20,180 Panamax Fleet Supramax Fleet 8,531 19,408 8,416 21,125 18,681 In average 8,796 19,562 8,520 21,168 18,813 15
Slide 16: Daily Vessel Running Costs of Owned Vessels
Daily Vessel Running Costs of Owned Vessels (Based on information up to 30 September 2023) 5,181 3,596 156 Q3 2023 $8,933 6,095 4,202 185 Q3 2022 $10,482 5,656 4,074 155 2022 $9,885 0 2,000 4,000 6,000 8,000 10,000 12,000 US$ Running Cost Depreciation Finance Cost • Daily vessel running cost is calc
Slide 17: Outlook
Outlook Supply of new vessels remain low; Demand growth uncertain with slowing global growth; Monetary environment discourages investments amid uncertain macro picture; Will be opportunistic in tonnage management via charter or asset purchases. 17
Slide 18: Thank you
Thank you Raymond Ching www.jinhuiship.com
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