August 2015 Investor Presentation – Great Eastern Shipping Company Limited

Great Eastern Shipping Company Limited · Aug 27, 2015 · 32 slides

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The Great Eastern Shipping Co. Ltd. Business & Financial Review August 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 67 years of operations Over 30 years of uninterrupted dividend track record Shareholding Pattern as on June 30,…
Shipping business-owned fleet 30 ships aggregating 2.4 Mn dwt, avg. age 9.6 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 years…
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 1 Kamsarmax Dry Bulk Carrier* Tsuneishi Heavy…
Source: Clarkson 0 20 40 60 80 100 120 140 160 180 USD mn 2001-01 2001-07 2002-01 2002-07 2003-01 2003-07 2004-01 2004-07 2005-01 2005-07 2006-01 VLCC 2006-07 2007-01 2007-07 2008-01 2008-07 Suezmax Amt…
Source: Clarkson - 20 40 60 80 100 120 140 160 180 USD mn 2001-01 2001-07 2002-01 2002-07 2003-01 2003-07 2004-01 2004-07 2005-01 2005-07 2006-01 Capesize 2006-07 2007-01 2007-07 2008-01 Panamax…
Asset Price Movement Long-term year High /Low: (5 year old assets) (Amt in mn) High Low Current Tankers 165 49 VLCC 84 (2008) (1994) 105 32 Suezmax 61 (2008) (1993) 46 20 MR 28 (2007) (1999) Dry Bulk 155 25 Capesize 35…
BDTI & BCTI Movement (Jan 2012 to July 2015) 1,200 1,100 1,000 900 800 700 600 500 Jan-12 Mar-12 May-12 Nov-12 May-13 Nov-13 May-14 Nov-14 Mar-15 May-15 Jul-12 Sep-12 Jan-13…
Surplus oil led to lower oil prices; strong refinery margins leading to higher crude runs Oil demand, Supply & Surplus Global refinery throughput & growth Global Refinery Crude Runs (mbpd) Demand (mbpd) Supply (mbpd) Growth in…
Strong refinery margins Brent Rotterdam Cracking Refining Arab Light Singapore Simple Margin Refining Margin LLS USG Simple Refining Margin 12 Source: Industry reports
Source: Industry reports 900 950 1000 1050 1100 1150 1200 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 the oil…
Ton-miles rise as surplus Atlantic barrels find home in Asia Indian import growth (tonne-mile & Other Asia import growth (tonne-mile & volumes) volume) China crude imports from Colombia China crude imports from Brazil 14…
Middle East refinery capacities get commissioned, Asia to account for bulk of future capacity additions Future refinery capacity additions Middle East (Crude Throughput) New refineries in Saudi Arabia (that came online in 2013-15)…
Overcapacity, potential refinery closures in the OECD region Actual and forecast refinery closures 16 Source: Industry Reports
Growing Product trade Changing trade patterns 17 Source: Industry Reports
0 2,000 4,000 6,000 8,000 10,000 12,000 Source: Baltic Exchange Nov-99 Apr-00 Sep-00 Feb-01 Jul-01 Dec-01 May-02 Oct-02 Mar-03 Aug-03 Jan-04 Jun-04 Nov-04 Apr-05 Sep-05 Feb-06 Jul-06 Dec-06 May-07 Oct-07…
Slow growth in steel consumption impacting demand for seaborne iron ore imports China crude steel production (mt) China iron ore imports (mt) Australia India Brazil 60 50 Substitution of other import 40 30 20 sources by…
Focus on pollution control, rising hydropower generation Severe blow to coal trade China coal imports India coal imports China coal imports decline sharply. Indian coal imports holding up in the short term, however, countrys…
World Fleet Growth 800 mn dwt Fleet 700 World Fleet Dry Bulk Crude Product CY2015 CY2016 CY2017+ 600 addition Aug 15 500 400 (in mn dwt) 300 200 Crude tankers 334 2% 8% 7% 100 Product tankers 138 5% 8% 4% 0 Dry bulk 2002…
Accelerated scrapping in Dry Bulk Scrapping as % of world fleet (year wise) Fleet as on Scrapping Vessel Category CY2012 CY2013 st 1 Jan 2015 H1 2015 (in mn dwt) (in mn dwt) 329 0.7 Crude 3% 2% 131 0.3 Product 2% 2% 756 20…
Greatship (India) Limited (a 100% subsidiary) Business Review August 2015 23
Offshore business- Fleet Profile The Greatship Group Current Owned Fleet High Fleet Utilization 4 Jack Up Rigs (350ft) Extent of coverage of 5 Platform Supply Vessels (PSV) Category fleet's operating days (per cent) 8 Anchor…
Greatships Modern & Technologically Advanced Fleet & High Utilization Young Fleet Young fleet with an average age of approx. 4 years by FY 2014-15 - Higher utilization rates Demand shifting to modern vessels, Revenue especially as…
Sharp decline in E&P spending led by lower oil prices E&P spending set to decline Oversupply of crude oil led to significant decline in E&P spending Stacking of rigs & renegotiations of rates on the rise, utilisations levels…
Global Fleet Supply Offshore Fleet & Orderbook (Nos) Jackup Rigs AHTSVs PSV / Supply Current Fleet 489 1,959 1,392 Orderbook 127 204 307 % of O/B to current fleet 22% 10% 26% Orderbook is high Slippages on Asian yards could…
FINANCIAL HIGHLIGHTS Q1 FY 2015-16 28
Q1 FY 2015-16 Financial Highlights Standalone Key Figures Consolidated Q1 FY16 Q1 FY15 (Amount in Rs. crs) Q1 FY16 Q1 FY15 Income Statement 541.42 494.02 Revenue (including other income) 1026.87 906.05 287.98 218.44 EBITDA…
Q1 FY 2015-16 Financial Highlights Standalone Key Figures Consolidated Q1 FY16 Q1 FY15 Q1 FY16 Q1 FY15 53.19% 44.22% EBITDA Margin (%) 56.94% 51.72% 12.94% 7.19% Return on Equity (ROE) (%) 16.99% 12.90% 10.23% 6.61% Return on Capital…
Q1 FY 2015-16 Performance Highlights Breakup of revenue days Revenue Days Q1FY16 Q1FY15 Owned Tonnage 2,574 2,602 Inchartered Tonnage 68 0 Total Revenue Days 2,642 2,602 Total Owned Tonnage (mn.dwt)* 2.36 2.37 * As on 30th…
Book Value & Net Asset Value (NAV) comparison Last 4 quarters Consol. Book Consol. NAV Value (Rs. Per share) (Rs. Per share) June 2015 518 536 March 2015 493 518 December 2014 496 557 September 2014 480 558 32
THANK YOU visit us at www.greatship.com 33

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