Pan Ocean Co., Ltd. · KRX:028670

Pan Ocean — HSBC 18th Transport & Logistics Conference (November 2024)

23 slides from Pan Ocean's conference presentation, Nov 21, 2024

  1. Slide 1: HSBC 18th Transport & Logistics Conference

    HSBC 18th Transport & Logistics Conference 21st November 2024 Pan Ocean

  2. 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

  3. Slide 3: Contents

    Contents Ⅰ. IR Focus Ⅲ. Market Overview  Q3 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

  4. Slide 4: Ⅰ. IR Focus

    Ⅰ. IR Focus  Q3 Highlight  Financial Result by Segment  Investment in Vessels  Long-term Contracts

  5. Slide 5: Q3 Highlight

    IR FOCUS Q3 Highlight (based on consolidated financial statements) Cargo(mil. MT) Sales(bil. KRW) Operating Profit(bil. KRW) BDI ’23.12/4 3,346 1,276.8 1,233.4 USD941mil. USD902mil. 1,111.6 USD847mil. 1,028.2 USD777mil. 975.5 USD734mil. 135.2 USD99mil. 128.1 USD94mil. 98.2 USD74mil. 79.5 USD60mil. 6

  6. 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) 812 789 685 636 626 108 98 94 92 87 86 88 84 82 80 85 73 25 23 20 19

  7. Slide 7: Investment in Vessels and Long-term Contracts

    IR FOCUS Investment in Vessels (as of the end of 3Q. 2024) Type Size No. Delivery Remark 2 2024. 11, 12 New TC Out with Shell (Firm Period 7Y & Charterer’s Option 3+3) LNG (7) LNGC (174K CBM) 2 2025. 1, 11 New TC Out with KGL(Korea Green LNG) (Firm Period 12Y & Charterer’s Option 4+4) 3 2024. 12 & 2

  8. Slide 8: Ⅱ. Business Overview

    Ⅱ. Business Overview  Shareholders and Dividend  Cargo  Fleet

  9. Slide 9: Shareholders and Dividend

    Shareholders and Dividend Major Shareholders (as of the end of 3Q. 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

  10. Slide 10: Cargo

    Cargo Duration Annual Volume (unit : mil. ton) Dry Bulk Non-Dry Bulk 112.1 104.5 103.4 94.8 14.2% 13.6% 13.6% 15.0% 14.8% 68.2 85.8% 85.0% 86.4% 86.4% 85.2% 2023 3Q 2023 4Q 2024 1Q 2024 2Q 2024 3Q 2020 2021 2022 2023 2024 3Q Cargo Trades (2024. 3Q) Loading & Discharging Others 0.4% Mineral 1.4% 2024

  11. Slide 11: Fleet

    Fleet Fleet (no. of vessel) (Unit : no. of vessels) Fleet (DWT) (as of the end of 3Q. 2024) Owned (Long term) Chartered in (over 1Y) Total Handy (10~40K) 7 27 (3) 34 Tanker 5.2% Handy LNG 1.5% Panamax Handymax (40~70K) 23 (10) 88 (13) 111 13.4% 5.1% Container 0.7% Others 0.2% Panamax (70~100K) 14 (2

  12. 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

  13. Slide 13: Dry Bulk Market

    Dry Bulk Market BDI Trend (2021~2024) Annual Average of BDI 2021 2022 2023 2024 2024 2021 2022 2023 6,000 5,650 (1/1~11/20) BDI 2,943 1,934 1,378 1,812 4,000 Cape T/C Avg. 33,333 16,177 16,389 23,466 3,346 P’max T/C Avg. 26,898 20,736 12,854 14,616 2,000 S’max T/C Avg. 26,770 22,152 11,240 16,083 Ha

  14. Slide 14: Dry Bulk Trading Volume

    Dry Bulk Trading Volume (Unit : mil.Ton) Others Grain Coal Iron Ore Rate (Source : Clarksons) 6,000 5,750 5,785 10% 5,706 4.6% 4,000 5% 3.6% 3.1% 3.4% 2.7% 2.0% 0.8% 0.6% 0.5% 2,000 0% -1.1% -2.5% 0 -5% 2016 2017 2018 2019 2020 2021 2022 2023 2024(E) 2025(F) 2026(F) (Unit : mil. ton) 2016 2017 2018

  15. 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

  16. Slide 16: Dry Bulk Carrier

    Dry Bulk Carrier (Unit : mil. DWT) Cape P’max H’max Handy Rate (Source : Clarksons) 1,035.2 1,064.9 1,093.7 1,000 10% 750 500 5% 4.0% 3.8% 3.6% 3.0% 2.9% 3.1% 3.2% 2.9% 2.9% 2.7% 2.2% 250 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024(E) 2025(F) 2026(F) (Unit : mil. Dwt) 2016 2017 2018 2019 2020

  17. Slide 17: Dry Bulk Orderbook & Demolition

    Dry Bulk Orderbook & Demolition Orderbook & Delivery schedule (Source : Clarksons) 2024 2025 2026 ~ Total No. of vessel mil. DWT No. of vessel mil. DWT No. of vessel mil. DWT No. of vessel mil. DWT Cape 8 1.6 38 7.7 91 20.3 137 29.6 P'max 42 3.4 126 10.3 277 23.1 445 36.8 H'max 43 2.7 180 11.4 221 1

  18. Slide 18: Appendix.

    Appendix.  Financial Result  Annual Result by Segment  Grain Trading Business  Tanker Market Index 18

  19. Slide 19: Financial Result (KRW)

    Financial Result (KRW) (Unit : bil. KRW) 2022 2023 2024 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q BDI average 2,041 2,530 1,655 1,523 1,934 1,011 1,313 1,194 2,033 1,378 1,824 1,848 1,871 Sales 1,440.9 1,722.2 1,836.5 1,420.7 6,420.3 996.4 1,224.7 1,111.6 1,028.2 4,361.0 975.5 1,233.4 1,276.8 Cos

  20. Slide 20: Financial Result (USD)

    Financial Result (USD) (Unit : mil. USD) 2022 2023 2024 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q BDI average 2,041 2,530 1,655 1,523 1,934 1,011 1,313 1,194 1,194 1,378 1,824 1,848 1,871 Sales 1,196 1,372 1,377 1,027 4,972 782 933 847 777 3,339 734 902 941 Cost of sales 1,036 1,160 1,191 889 4,2

  21. Slide 21: Annual Result by Segment (2019~2023)

    Annual Result by Segment (2019~2023) (Unit : bil. KRW) Dry Bulk Container Tanker LNG Sales Operating Profit Sales Operating Profit Sales Operating Profit Sales Operating Profit 2,943 1,934 4,464 509 1,353 1,378 343 3,296 172 1,066 306 366 353 2,783 247 1,663 219 94 1,514 540 515 83 135 143 140 138 1

  22. Slide 22: Grain Trading Business

    Grain Trading Business Cargo ('000 MT) Sales (bil. KRW) 252.7 210.9 203.1 199.7 181.8 180.9 174.3 165.1 126.3 122.2 121.2 1,107 94.2 99.6 79.7 591 568 568 428 422 49.0 409 345 363 321 369 359 299 283 112 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2021 2022 2023 2024  Entered in Korean domestic co

  23. Slide 23: Tanker Market Index

    Tanker Market Index (Unit : USD) VLCC (Unit : USD) MR 2021 2022 2023 2024 2021 2022 2023 2024 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

Pan Ocean — HSBC 18th Transport & Logistics Conference (November 2024) on 6ix