Box Ships Inc · OTC:TEUFF
Box Ships — Investor Presentation (April 2014)
13 slides from Box Ships's investor presentation, April 2014
Slide 1: Investor Presentation
Investor Presentation April 2014
Slide 2: Disclosures and Forward Looking Statements
Disclosures and Forward Looking Statements This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of the Securities Act. All statements, other than statements of historical facts, that address activities, events or developments that the
Slide 3: Company Overview
Company Overview Box Ships Inc. – NYSE: TEU Formed by Paragon Shipping Inc. (NASDAQ: PRGN) to invest in the containership industry. Paragon Shipping and CEO own approximately 13.6% and 16.6%1 of the Company, respectively. Strong Management Team with over 79 years collective experience Michael Bodour
Slide 4: Quarterly Highlights & Recent Developments
Quarterly Highlights & Recent Developments Adjusted1 T/C revenues of $18.6m and Adjusted1 TCE of $22,237 per day Adjusted1 EBITDA of $11.0m and Adjusted1 Net Income of $5.2m Adjusted1 EPS, basic and diluted of $0.19 Decided not to pay a dividend to common shareholders in relation to the fourth quart
Slide 5: A Young Fleet With A Diversified Portfolio of Charterers
A Young Fleet With A Diversified Portfolio of Charterers 63% fixed days for remainder of 2014 and an average remaining charter term of 12 months Charter Overview Jun-14 Jul-14 Jul-14 Jul-14 Sep-14 Sep-14 May-15 Jun-15 Apr-16 Remaining T/C Term 2014 2015 Notes: Fixed Revenue Days1 63% 20% 1 Based on
Slide 6: Moderate Leverage and Trading Below NAV
Moderate Leverage and Trading Below NAV Net Asset Value and Leverage Ratio 1 Scheduled Loan Repayments (USD Million) $m $ per share $20 $200 Cash (incl. Restricted Cash) $24.5 $0.97 $179.6 Charter Free Fleet Valuation $241.7 $9.56 $173.9 $15 $156.9 $150 Other Current Assets $7.2 $0.28 Non-current As
Slide 7: Market fundamentals
Market fundamentals 6-12 Months Timecharter Rates Shanghai Containerized Freight Index 60,000 1,700 50,000 1,500 40,000 1,300 30,000 1,100 20,000 900 10,000 0 700 Jul-09 Jul-10 Jul-11 Jul-12 Jul-13 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13 Jan-09 Jan-10 Jan-11 Jan-12 Jan-
Slide 8: A Deeper Look At The Orderbook
A Deeper Look At The Orderbook 63% of the orderbook is for post-panamax vessels above 8,000 TEU Only 0.2m TEU of the total orderbook of 3.8m TEU is for vessels smaller than 5,000 TEU (6.2%) Expect negative growth in vessels classes below 5,000 TEU in 2014 and beyond. Vessel Deliveries 1,600 1,400 1,
Slide 9: Financial Review
Financial Review 4 Q1 2 4 Q1 3 Δ% FY12 FY13 Δ% Average number of vessels 9.00 9.00 0.0% 8.01 9.00 12.4% Average Time Charter Equivalent rate, adjusted 22,933 22,237 -3.0% 24,512 22,550 -8.0% Time Charter Revenues, adjusted 1,2 19,382 18,561 -4.2% 70,966 76,652 8.0% 1,2 EBITDA, adjusted 11,228 10,952
Slide 10: Operating Performance
Operating Performance ( E x p r e sse d i n mi lli o n s o f U.S. D o lla r s, e x ce p t f le e t d a t a a n d d a i ly r e su lt s) Q 4_2012 Q 4_2013 FY_2012 FY_2013 Fleet Dat a Average n u mber of ves s els 9.0 9.0 8.0 9.0 O perat i n g days f or f leet 801 797 2,734 3,222 Calen dar days f or f
Slide 11: Key Take-Aways
Key Take-Aways Well-positioned in the mid-size segment of the containership market Solid quarterly results despite weak charter market 63% fixed days for remainder of 2014 and an average remaining charter term of 12 months High-quality fleet with an average age of 9.2 years and solid operating perfo
Slide 12: Appendix
Appendix Investor Relations /Media: Company: Allen & Caron Inc. Box Ships Inc. Michael Mason (Investors) Robert Perri, CFA Tel: (212) 691-8087 Chief Financial Officer Email: [email protected] 15 Karamanli Ave. Len Hall (Media) GR 166 73, Voula, Greece Tel: (949) 474-4300 Tel: +30 (210) 8914 60
Slide 13: Dry-dock and non-cash items schedule
Dry-dock and non-cash items schedule Dry-docking Schedule for 2014 & 2015 TEU Next DD Quarter Estimated Offhire Days Maule 6,589 Q2 2015 18 Box Voyager 3,426 Q3 2015 18 Box Trader 3,426 Q3 2015 18 OOCL Hong Kong 5,344 Q4 2015 18 Non-cash items needed to derive Adjusted Net Income from US GAAP Net In