Great Eastern Shipping Co. Ltd. · NSE:GESHIP
Great Eastern Shipping — The Great Eastern Shipping — Investor Presentation (August 2010)
22 slides from Great Eastern Shipping's investor presentation, August 2010
Slide 1: Business & Financial Review August 2010
The Great Eastern Shipping Co. Ltd. Business & Financial Review August 2010 1
Slide 2: Forward Looking Statements
Forward Looking Statements Except for historical information, the statements made in this presentation constitute forward looking statements. These include statements regarding the intent, belief or current expectations of GE Shipping and its management regarding the Company’s operations, strategic
Slide 3: Corporate Profile
Corporate Profile The Great Eastern Shipping Co. Ltd. Incorporated in 1948 Shipping Business Offshore Business Wet bulk Through subsidiary Greatship (India) Limited Crude Tankers Product Tankers Offshore oil field Support & Logistics Services Dry bulk 3
Slide 4: Company at a glance
Company at a glance $ India’s largest private sector Shipping Company $ Diverse asset base with global operations $ Completed 62 years of operations $ More than 26 years of uninterrupted dividend track record Shareholding Pattern as on June 30, 2010 FIIs Public 14% 27% Govt/FI 21% Bodies Promoters C
Slide 5: Shipping business-owned fleet
Shipping business-owned fleet 35 ships aggregating 2.66 Mn dwt, avg.age 10.5 years 29 Tankers avg.age 10.2 years (85% in tonnage terms) - 11 Crude carriers (5 Suezmax, 6 Aframax) avg.age 10.1 years (2 single hull – both double sided) - 17 Product tankers (4 LR1, 9 MR, 4 GP) avg.age 9.2 years (3
Slide 6: Committed CAPEX – Shipping Business
Committed CAPEX – Shipping Business Committed Capex of around USD 573 Mn - 8 new building contracts aggregating 1.31 mn. dwt To be delivered in: 9FY 2011 - 1 NB, Kamsarmax Dry Bulk Carrier (STX Shipbuilding Co. Ltd) - 2 NB, Supramax Dry Bulk Carriers(Cosco (Zhoushan) Shipyard Co. Ltd) 9FY 2012 - 2 N
Slide 7: Offshore business- Fleet Profile
Offshore business- Fleet Profile ¾ Current Owned Fleet 9 1 350ft Jack Up Rig 9 4 Platform Supply Vessels (PSV) 9 7 Anchor Handling Tug cum Supply Vessels (AHTSV) 9 2 Multipurpose Platform Supply and Support Vessel ¾ Current Inchartered Fleet 9 1 350ft Jack Up Rig 9 1 Platform Supply Vessel (PSV) 7
Slide 8: Committed CAPEX – Offshore Business
Committed CAPEX – Offshore Business ¾ Delivery Schedule of the Committed Capex To be delivered in: 9 FY 2011 - 3 NB Platform / ROV Support Vessels (CDL) - 1 NB MPSV (Keppel Singmarine) - 2 NB MSVs (Mazagon Dock) 9 FY 2012 - 2 NB 150T AHTSV (Drydock World, Singapore) Fleet Growth FY2008 FY2009 FY2010
Slide 9: Global Presence-Risk Diversification and Profit Maximization
Global Presence-Risk Diversification and Profit Maximization One One of of the the few few Indian Indian companies companies toto operate operatein indiverse diversemarkets marketsacross acrossthe theworld world with with prestigious prestigious counterparties; counterparties; helps to hedge against
Slide 10: Q1FY’11 Financial Highlights
Q1FY’11 Financial Highlights Standalone Consolidated Q1FY'11 Q1FY'10 (Amount in Rs. crs) Q1FY'11 Q1FY'10 Income Statement 453.24 629.02 Revenue 727.58 885.61 259.49 264.59 EBITDA 385.21 318.98 105.94 126.28 Net Profit 171.80 154.17 Balance Sheet 9020.02 8196.02 Total Assets 11127.34 10066.41 5429.07
Slide 11: Q1FY11 Performance Highlights
Q1FY11 Performance Highlights Breakup of revenue days Revenue Days Q1’FY11 Q1’FY10 Owned Tonnage 3,315 3,393 Inchartered Tonnage - 88 Total Revenue Days 3,315 3,481 Total Owned Tonnage (mn.dwt) 2.66 2.88 Mix of Spot & Time Q1 FY11 Q1 FY10 Days (in %) FY10 FY09 Average TCY Details Dry Bulk 51% 74% Sp
Slide 12: Asset Price Movement (5 yr old)
Asset Price Movement (5 yr old) Timeline- Sep2003 till Jul 26, 2010 Amt in US$ mn 160 160 120 120 80 80 40 40 0 0 16/09/2003 VLCC AFRAMAX CAPESIZE PANAMAX(DRY) Source: Baltic Sale & Purchase Assessment 12
Slide 13: Indices Movement - Timeline Jan'08 to 28'Jul10
Indices Movement - Timeline Jan'08 to 28'Jul10 Baltic Dry Index (BDI) 14000 12000 10000 8000 6000 4000 2000 0 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Baltic Dirty Tanker Index (BDTI) & Baltic Clean Tanker Index (BCTI) 2500 BDTI 2000 1500 1000 BCTI 500 0 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 So
Slide 14: Total Seaborne trade at a glance… Dry Bulk
Total Seaborne trade at a glance… Dry Bulk Seaborne Bulk trade % chg (in mn. tonnes) 2008 2009 2010(F) (CY10 over CY09) Iron ore 841 907 996 9.8% Steam Coal (Thermal) 578 587 619 5.5% Coking Coal 221 215 247 14.9% Grains 244 235 230 (2.1)% Bauxite 86 66 79 19.7% Sugar 50 50 53 6.0% Agri. Bulks 113 1
Slide 15: Total Seaborne iron ore trade at a glance
Total Seaborne iron ore trade at a glance Seaborne Iron Ore Imports % chg mn. tonnes 2008 2009 2010(F) (CY10 over CY09) W. Europe 131 81 98 21.7% China 443 615 654 6.5% Asia (Ex. China) 212 164 189 15.3% ROW 56 48 55 14.6% Total 841 907 996 9.8% China Imports – Jan’10 to Jun’10: 309 mn tonnes Source
Slide 16: Global Oil Demand
Global Oil Demand % chg mn.bpd 2008 2009 2010(F) (CY10 over CY09) N.America 24.2 23.3 23.6 1.3% OECD Europe 15.3 14.5 14.4 (0.7)% OECD Pacific (Japan& Korea) 8.4 7.7 7.7 - Asia (Non OECD) 17.5 18.5 19.3 4.3% Other Non OECD 20.6 20.8 21.4 2.9% Total 86.0 84.8 86.4 1.9% Source: Clarksons 16
Slide 17: Total Seaborne crude trade
Total Seaborne crude trade Seaborne Crude Imports % chg mn bpd 2008 2009 2010(F) (CY10 over CY09) Asia 15.9 16.1 17.0 5.6% EU 10.9 10.3 10.3 - N. America (incl. Canada) 7.0 6.6 6.7 1.5% ROW 5.7 5.0 5.2 4.0% Total 39.5 38.0 39.2 3.2% of which Long Haul Trades 15.0 13.8 14.4 4.3% 38% 36% 37% Source: C
Slide 18: Gross World fleet addition-Shipping
Gross World fleet addition-Shipping World Fleet addition* Fleet CY2010 CY2011 CY2012 + (as on 1 Jul’10) (in mn dwt) Crude tankers 319.3 8% 14% 6% Product tankers 128.0 9% 9% 3% Dry bulk carriers 491.9 18% 19% 14% Source: Clarksons *includes only new building from yards - 9% of world tanker fleet is
Slide 19: Global Fleet – Scrapping Details
Global Fleet – Scrapping Details Fleet as on Scrapping CY2010 1st Ju1’10 (in mn dwt) CY2008 CY2009 YTD (in mn dwt) 319.3 Crude 1.3 5.1 4.4 128.0 Product 1.5 3.3 3.4 491.9 Bulk 3.6 10.0 2.2 Source: Clarksons World Dry Bulk Fleet: -17% above 25 years - 24% above 20 years 19
Slide 20: Slippages… to be a decisive factor
Slippages… to be a decisive factor CY 2009 (in mn dwt) VLCC Suezmax Aframax Panamax MR GP Total Orderbook as in 1 Jan’09 20.8 10.9 11.9 4.1 10.6 2.1 60.5 Actual Deliveries CY09 16.7 7.1 10.5 2.8 7.2 1.4 45.9 Slippages/ cancellations 4.1 3.8 1.3 1.2 3.4 0.7 14.6 Slippages/ cancellations as % of order
Slide 21: Global Fleet Supply -Offshore
Global Fleet Supply -Offshore OSV Fleet Summary (Nos) (as on 1 Jul’10) AHTSVs PSVs Others Current Fleet 2,484 1,954 1,771 Orderbook 368 212 167 % of O/B to current fleet 15% 10% 9% Source: Clarksons 9 Aging fleet : Half of world offshore supply fleet over 25 years 21
Slide 22: THANK YOU
THANK YOU visit us at www.greatship.com 22
The Great Eastern Shipping — Investor Presentation (August 2010) on 6ix