The Great Eastern Shipping Co. Ltd. Business & Financial Review May 2015 1
Corporate Profile The Great Eastern Shipping Co. Ltd. Incorporated in 1948 Shipping Business Offshore Business Wet bulk Through subsidiary Greatship (India) Limited - Logistics Crude Tankers Product Tankers - Drilling…
Company at a glance Indias largest private sector Shipping Company Diverse asset base with global operations Completed 66 years of operations Over 30 years of uninterrupted dividend track record Shareholding Pattern as on March 31,…
Shipping business-owned fleet 29 ships aggregating 2.28 Mn dwt, avg. age 9.9 years 21 Tankers avg.age 11.0 years - 8 Crude carriers (4 Suezmax, 4 Aframax) avg. age 12.2 years - 12 Product tankers (4 LR1, 8 MR) avg. age 8.4…
Shipping business- CAPEX plan Vessels on Order Vessel Yard CAPEX: USD 180 mnExpected Total committed ADD YR Delivery WISE 1 Medium Range Product TankerCAPEX BRK UP) STX Group Q4 FY16 2 Kamsarmax Dry Bulk Carriers Tsuneishi…
Lower oil prices support stocking/storage.. Steep contango could lead to floating storage Rising imports from China Low oil prices and filling of the SPR Brent contango Prompting commercial as well as SPR storage Recovery in…
Atlantic surplus moving towards East OIL OIL OIL OIL OIL OIL OIL OIL OIL OIL 12 Source: Industry Reports
Significant new Refining capacity additions coming up in Asia and Middle East The latest IEA report expects about 5.2 mn of added global refining capacity annually for 20142018 and further by 1.2 mbpd by 2020 Middle East & Asia to…
Leading to overcapacity, potential closures in the OECD region, lower utilization along with scaling back of certain planned expansions OECD Refinery closures Lower OECD refinery utilizations Expansion in Latin America could…
Growing Product trade Changing trade patterns 15 Source: Industry Reports
BDI Movement (Jan 2001 to Apr 2015) 14000 12000 China announces 586 bn stimulus China growth 10000 slowdown, pollution Cargo growth but control, rising record NB 8000 2008 market renewable power deliveries crash, BDI capacity…
Seaborne Bulk Trade growing steadily Dry Bulk Seaborne trade Global dry bulk seaborne trade 5000 reached 4.5 bn tons in 2014 4500 4000 Contribution to seaborne trade growth by commodity 3500 3000 72% 2500 2000 1500…
Dry Bulk Trade Driven by Iron Ore Volumes Total Seaborne Iron Ore Supply (mt) Until 2016, iron ore mmt Australia Brazil India RoW seaborne trade will 1000 be a function of 900 available 800 international 700 600 supplies…
Dry Bulk TradeChina ore import substitution continues mn tonnes Imported Iron Ore 933 1000 820 Continued import substitution 800 744 686 628 619 600 444 led to higher imports 383 400 275 326 Increasing share of Australia 208…
Dry Bulk Trade Lack luster Chinese coal imports take the sheen off ...India to become the growth driver.. China coal imports (mt) India coal imports (mt) 40 250 35 200 30 25 150 20 100 15 10 50 5 0 0 FY09 FY10 FY11…
Dry Bulk sees accelerated scrapping Scrapping as % of world fleet (year wise) Fleet as on Scrapping Vessel Category CY2012 CY2013 st st 1 Jan 2015 1 May, 2015 (in mn dwt) (in mn dwt) 366 0.7 Crude 3% 2% 142 0.6 Product 2% 2%…
Greatship (India) Limited (a 100% subsidiary) Business & Financial Review March 2105 23
Offshore business- Fleet Profile The Greatship Group Current Owned Fleet 4 Jack Up Rigs (350ft) 5 Platform Supply Vessels (PSV) 9 Anchor Handling Tug cum Supply Vessels (AHTSV) 2 Multipurpose Platform Supply and Support…
Greatships Modern & Technologically Advanced Fleet Young Fleet Young fleet with an average age of approx. 4 years by FY 2014-15 - Higher utilization rates Revenue Demand shifting to modern vessels, especially as Efficiencies -…
Offshore Service Value Chain Exploration Development Production Length of - 3 to 5 years - 2 to 4 years - 5 to 55 years Typical Cycle - Collection of survey data - Construction & installation of - Management of oil & gas…
E&P spending to decline in response to lower oil prices Barclays E&P survey (January 2015) Low oil prices has resulted into Exploration &Production (E&P) spending cuts Impact likely to be higher on Deep and Ultra deepwater…
Global Fleet Supply Offshore (Nos) Jackup AHTSVs PSV / Rigs Supply Current Fleet 497 2,005 1,479 Orderbook 125 214 333 % of O/B to 25% 11% 23% current fleet Decline in E&P capex coupled with high fleet growth to lower…
FINANCIAL HIGHLIGHTS FY 2015 29
FY 2015 Financial Highlights Standalone Key Figures Consolidated FY'15 FY'14 (Amount in Rs. crs) FY'15 FY'14 Income Statement 2,013 1,771 Revenue (including other income) 3,694 3,323 841 781 EBITDA (including other income) 1,709…
Q4 FY 2015 Performance Highlights Breakup of revenue days Revenue Days Q4FY15 Q4FY14 Owned Tonnage 2,603 2,580 Inchartered Tonnage 0 0 Total Revenue Days 2,603 2,580 Total Owned Tonnage (mn.dwt)* 2.28 2.42 * As on 31st March…
Book Value & Net Asset Value (NAV) comparison Last 4 quarters Consol. Book Consol. NAV Value (Rs. Per share) (Rs. Per share) March 2015 493 518 December 2014 496 557 September 2014 480 558 June 2014 468 560 33
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