EMC — Interim / Quarterly Report 2020

Jul 24, 2020

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長榮海運股份有限公司
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免責聲明

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• 本簡報資料所提供之資訊，包含所有前 瞻性的看法，本公司不因任何新事件或 任何狀況的產生而負有更新或修正本簡 報資料內容之責任。

• 投資人不應將上述前瞻性資訊解釋為具 有法律約束力的承諾，而以有可能修正 的彈性資訊視之。本簡報資料中所提供 之資訊並未明示或暗示表達或保證其具 有正確性、完整性或可靠性，亦不代表 本公司、產業狀況或後續重大發展的完 整論述。

• 本文件之任一部分不可因任何目的而被 直接或間接複製、再散佈或傳遞予任何 其他人(不論公司內或公司外)或出版(部 分或全部)。

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簡報綱要

1. 公司概況 2. 財務資訊 3. 產業展望 4. 營運策略

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公司概況

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公司概況
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192 艘 7 集團總運能 船隊運能全球第七

5.4% 56% 61 船隊運能市佔率 自有船舶艘數比例 新造船數業界最高 150+ 250+ 320 週航線服務數 泊靠碼頭數 全球分公司及代理行

1,231,740 TEU 117 150+ 航線網絡遍佈全球 航線擴及全球國家數 週航線服務數

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不確定的2020年

新冠肺炎全球疫情大爆發 燃油價格史詩般的下跌 全球貿易不穩定性加劇 世界各國封城以減緩傳染可能性 美中貿易戰暫緩? 美歐貿易爭端再起? 區域政治不穩定性北韓中印邊界 國際大客戶加碼支持 國際需求減緩 加速航商運力調整 低油價幫助航商減損 封城期間海運業者被特許營業維持基本物資供應

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財務資訊

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2020年第一季合併簡明損益表
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單位：NT$百萬元
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項目	2020Q1
營業收入	43,475.26
營業成本	(40,525.05)
營業毛利	2,950.21
營業淨利	496.41
本期淨利	(733.15)
歸屬母公司淨利	(441.58)
EBITDA	5,910.16

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營業收入
造櫃收入, 1%
其他, 7%
代理費及佣金, 2%
船艙租收入, 1%
營業成本 其他
21%
港埠費用
貨運收入, 89%
40%
燃油成本
20%
聯運成本(內陸運輸、轉船)
船艙租成本
12%
7%
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營業收入 純益率 (%) 毛利率 (%)
499
492
500 479 10.00%
營業收入單位: 台幣億元 471
457
449
450 435
8.00%
400 383
368
6.00%
350
4.00%
300
250 2.00%
200
0.00%
150
-2.00%
100
-4.00%
50
0 -6.00%
2018Q1 2018Q2 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2020Q1
9
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850 791 80
790
769 764 750
704
750
70
650
58 萬TEU 60
56 萬TEU
550 54 萬TEU
53 萬TEU
51 萬TEU
496
50
450 483 47 萬TEU 451
368
350
40
279
250 244
30
150
20
50
-50 202001 202002 202003 202004 202005 202006 10
運量 平均運費 每噸油價 運量單位: 萬TEU 運價單位: USD/TEU 油價單位: USD/Ton
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產業展望
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後疫情時代新需求

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Work from Home

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16.0%

14.0%

12.0%

10.0%

8.0%

6.0%

4.0%

2.0%

0.0%

主要國家失業率歷史紀錄及未來預測 2010-2020 & 2021 Forecast Unemployment Ratio

			CAN	CAN		DEU			JPN	JPN	GBR	USA
0%
.
Jan-10	Jun-10	Nov-10		Apr-11	Sep-11	Feb-12	Jul-12	Dec-12		May-13 Oct-13	Mar-14 Aug-14	Jan-15 Jun-15	Nov-15	Apr-16	Sep-16	Feb-17	Jul-17	Dec-17	May-18	Oct-18	Mar-19	Aug-19	Jan-20	Q3-20	Q4-21
Location				Q3 -2020			Q4-2020			Q1-2021	Q2-2021	Q3-2021	Q4-2021
Canada Germany					9.5 5.1		8.8 5.0			8.3 4.6	8.0 4.3	7.8 4.1		7.6 3.8										產
Japan					3.4		3.3			3.2	3.2	3.1		3.1
United Kingdom					11.6		9.7			8.7	7.8	7.5		7.1
United States					13.4		10.3			9.0	8.3	8.2		8.2

產業展望市場需求

Based on OECD data, the labor market forecast in 2021 is going to improve after COVID 19 impacted on global economics. The top five-largest economy in the world (except China), the unemployment ratio will be down to the reasonable level in 2021.

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3%
Ultra Large
Container Vessel
Feedermax Feeder (ULCV)
7% 8% 13%
New Panamax (or
Neopanamax)
Panamax 23%
16%
Post-Panamax
30%
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	產業展望	產業展望	Post-Panamax 30%	Post-Panamax 30%	Post-Panamax 30%	Post-Panamax 30%	Post-Panamax 30%
	Group	Capacity	All cellular ships		Of which chartered
			Units	TEU	Units	TEU	% Charter
	Ultra Large Container Vessel (ULCV)	14,501 and higher	162	3,134,554	58	Data source: Alphal 1,160,735	iner 37.0%
	New Panamax (or Neopanamax)	10,000-14,500	421	5,299,046	261	3,255,415	61.4%
	Post-Panamax	5,101-10,000	921	6,987,544	525	3,988,326	57.1%
	Panamax	3,001-5,100	881	3,728,824	528	2,214,864	59.4%
	船隻數 Feedermax	2,001-3,000	686	1,750,821	431	1,101,120	62.9%
	Feeder	1,001-2,000	1,317	1,868,986	758	1,084,771	58.0%
	Small Feeder	up to 1,000	958	635,789	479	344,586	54.2%
	Total		5,346	23,405,564	3,040	13,149,817	56.2%

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產業展望全球運力

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Inactive containership around 11.6% of total fleet at 25 May 2020

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營運策略

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營運策略最適船型

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G Type 20K & F/T Type L Type B Type O Type C Type
23K New Build 12-14 K TEU 2.8K TEU 2.4K TEU 1.8K TEU
9.5K TEU
環保 環保 環保 環保 環保 環保
船型 建造中 船型 建造中 船型 船型 船型 建造中 船型 建造中
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海運產業展望油品供應

Marine Bunker Historical Price

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IFO 380 LSFO Price of Liquefied U.S. Natural Gas Exports (Dollars per Thousand Cubic Feet) 150.00 布倫特原油價格
800.00 12.00
西德克薩斯中質原油
130.00
722.84
700.00 698.78
600.00 544.95 561.06 609.68 581.55 583.90 627.90 674.42 651.12 647.29 658.18 621.50 525.55 552.50 599.83 614.10 625.64 619.99 572.05 607.02 577.33 598.14 590.98 584.00 615.00 527.00 10.00 8.00 110.00 90.00
500.00 400.00 408.65 433.15 404.39 398.39 406.89 456.20 423.69 468.78 485.33 497.40 468.93 481.95 455.85 428.74 454.81 473.09 510.16 511.17 379.58 384.65 432.67 439.64 451.18 442.94 455.15 507.23 462.23 379.20 389.51 419.57 428.68 430.23 410.30 385.30 449.65 381.20 457.65 449.00 6.00 70.00
358.20 365.59 362.52 364.71 361.46 364.68
300.00 269.32 286.52 339.11 277.65 268.94 319.09 325.51 316.48 294.29 305.32 296.93 287.69 293.98 303.71 326.06 333.61 290.00 301.00 293.00 286.00 274.00 4.00 50.00
236.56 235.20 236.18 249.79 30.00
219.45 216.00
200.00 188.26 193.00 201.00
174.70
146.89 150.06 144.00 2.00 10.00
121.00
100.00
(10.00)
- -
(30.00)
(50.00)
01/4/2000 08/31/2000 04/27/2001 12/20/2001 08/21/2002 04/17/2003 12/9/2003 08/4/2004 03/30/2005 11/21/2005 07/19/2006 03/19/2007 11/15/2007 07/21/2008 03/20/2009 11/17/2009 07/21/2010 03/21/2011 11/21/2011 07/27/2012 03/28/2013 11/25/2013 07/25/2014 03/30/2015 11/23/2015 07/19/2016 03/15/2017 11/7/2017 07/6/2018 03/6/2019 10/29/2019
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硫化物減排解決方案
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脫硫設備符合新規 目前開放式脫硫器經CSA(Clean Shipping Alliance)、丹麥環保署及日本國土交通省等機構認 證，無論短期或長期排放皆不會影響海洋環境。

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新一代環保船油耗及效能

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CO2 Emission

SOx Emission

NOx Emission

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120 2.5
3.5
103.79 g/teu- 3.047
100 97.42 90.14 g/teu-km 2 1.975 1.867 km 3 g/teu-km
2.531
83.54 82.18 79.85 1.687
2.5
80 72.36 1.43 [1.485]
64.4 64.03 62 63.2 62.14 61.46 1.5 1.314 1.262 2
60 1 1.087 0.995 0.981 0.956 0.947 0.926 1.5 1.614 1.556 1.565 1.537 1.289 1.223 1.222 1.216 1.252 1.226 1.183
40
1
0.5
20
0.5
0 0 0
2007200820092010201120122013201420152016201720182019 2007200820092010201120122013201420152016201720182019 2007200820092010201120122013201420152016201720182019
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高硫油與低硫油耗量比例一覽表 高硫油 % 低硫油 %
100.0%
85.0%
70.0% 58.4% 55.4% 53.8% 54.9% 56.5% 50.3% 45.4% 44.4% 43.5%
70.5% 67.4% 65.4%
55.0%
40.0%
25.0% 41.6% 44.6% 46.2% 45.1% 43.5% 49.7% 54.6% 55.6% 56.5%
29.5% 32.6% 34.6%
10.0%
-5.0%
202001 202002 202003 202004 202005 202006 202007 202008 202009 202010 202011 202012
Platts( 普氏 ) 新加坡高低硫油每噸價差月平均數 (USD)
400
298
300
193
200
108 ? ? ? ? ?
68 80 73 ?
100
-
202001 202002 202003 202004 202005 202006 202007 202008 202009 202010 202011 202012
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智能船隊 航運標
調度 準化
Shipment
GREENX Link
Paperless Doc
低軌道衛
大數據 區塊鏈
星貨櫃定
運用
ioT
位器
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航運數位化 物流智能化 客戶新體驗 分享經濟 體驗經濟

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環境保護 永續經營 與地球為友

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Environmental Ship Index (ESI)

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敬請指教

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