JINHUI SHIPPING

AND TRANSPORTATION LIMITED

Q1 2021 Results Presentation

21 May 2021

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's management's examination of historical operating trends. Although the Company believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties which are difficult or impossible to predict and are beyond its control, the Company cannot give assurance that it will achieve or accomplish these expectations, beliefs or targets.

Key risk factors that could cause actual results to differ materially from those discussed in this presentation will include but not limited to the way world economies, currencies and interest rate environment may evolve going forward, general market conditions including fluctuations in charter rates and vessel values, financial market conditions including fluctuations in marketable securities value, counterparty risk, changes in demand in the dry bulk market, changes in operating expenses including bunker prices, crewing costs, drydocking and insurance costs, availability of financing and refinancing, inability to obtain restructuring or rescheduling of indebtedness from lenders in liquidity trough, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents, piracy or political events, and other important factors described from time to time in the reports filed by the Company.

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Highlights

Q1 2021 Financial Highlights

  • Revenue for the quarter: US$16 million
  • Net profit for the quarter: US$5 million
  • EBITDA: US$9 million
  • Basic earnings per share: US$0.048
  • Gearing ratio as at 31 March 2021: 12%

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Highlights

  • Consolidated net profit of US$5 million for current quarter mainly due to:
    • chartering revenue increase 76% due to rebound of market dry bulk freight rates as compared to last corresponding quarter;
    • net gain of US$1.4 million on bunker was recognized during the quarter;
    • decrease in shipping related expenses, mainly due to bunker related expenses of US$5 million in last corresponding quarter;
    • realized net gain of US$1.6 million upon disposal of equity and debt securities was recognized in current quarter, as compared to realized net gain of US$0.3 million from last corresponding quarter;

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Highlights

  • During the quarter, the Group drawn new secured bank loan of US$12.6 million and repaid US$3.2 million.
  • A Supramax which was contracted to be disposed at consideration of US$5.5 million in December 2020 was delivered to the purchaser during the quarter;
  • Acquired a 2004-built Supramax at consideration of US$7.3 million in Q1 2021;
  • After reporting date, contract to acquire a 2004-built Supramax and a 2006-built Supramax at consideration of US$10.8 million and US$9.3 million respectively in Q2 2021;

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Jinhui Shipping and Transportation Limited published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 07:02:01 UTC.