Samudera Shipping

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https://indoshippinggazette.com/2022/sam...p-391-yoy/
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(03-08-2022, 11:11 AM)bryan2003 Wrote: https://indoshippinggazette.com/2022/sam...p-391-yoy/

Hi bryan2003

Thanks for sharing.  But do make some effort to narrate or highlight the salient information for the benefit of all.  

Indonesia’s leading shipping line Samudera – PT Samudera Indonesia Tbk (SMDR) recorded a fantastic financial performance in the first half (H12022). Its revenue, operating profit, net profit, and EBITDA grew so fantastic, the highest in the company history.

Referred to the historic financial report, Bani explained that the target was so realistic.  “Earlier data explained that there would be higher financial growth in second half, compared to the first half,” he said.
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(08-04-2022, 04:23 PM)Yoyo Wrote: I have sought some information from Samudera Shipping yesterday via Ms Alvina Tan of Ark Advisors, the company investor relations consultant.

Questions raised:
1.  What is the estimated ratio of revenues based on spot rate and contracted rate for the container shipping business?
2.  For customers on contracted term rate, usually they are signed/lock-in for how long (ie years)?
3.  Has Samudera Shipping began levying fuel surcharge on its customers?

Answers given:
1. The bulk of Samudera's container slots are contracted to the main line operators (ie, the bigger shipping lines that ply Asia - US/Europe) and these contribute approximately 70-80% of the Company's revenue.
2. The duration of a typical contract period  is 12 months and is subject to renewal upon expiry.
3.  Yes, the company currently has a scheme of arrangement which allows it to pass on a fuel surcharge to its customers.

Follow-up Q&A
Questions raised:
1.  Which part of the year does the line operators enter into a new contract period with Samudera?  I am more interested in the top 2 customers that contribute greater than 10% of the revenue.
2.  In the event that the spot rates dropped below these contracted rate, is Samudera pressurise to renegotiate ie lower its contracted rate during the contract period or these line operators will honour the contracted rate regardless of market movements (ie ironclad)
3.  Which quarter of the year does Samudera experience the most revenue generation - Q1, Q2, Q3 or Q4.  It will be great if some rough percentage is given.

Answers given:
1.  Contracts can be entered into or renewed at any time of the year
2.  The contracts are signed and renewed annually or every two years, and there is no negotiation while it is in effect
3.  The Company generally sees greater revenue generation in Q4 of the calendar year as shipping activity increases ahead of Chinese New Year

Just sharing
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(03-08-2022, 01:57 PM)Yoyo Wrote:
(03-08-2022, 11:11 AM)bryan2003 Wrote: https://indoshippinggazette.com/2022/sam...p-391-yoy/

Hi bryan2003

Thanks for sharing.  But do make some effort to narrate or highlight the salient information for the benefit of all.  

Indonesia’s leading shipping line Samudera – PT Samudera Indonesia Tbk (SMDR) recorded a fantastic financial performance in the first half (H12022). Its revenue, operating profit, net profit, and EBITDA grew so fantastic, the highest in the company history.

Referred to the historic financial report, Bani explained that the target was so realistic.  “Earlier data explained that there would be higher financial growth in second half, compared to the first half,” he said.
 Oppssss...sorry...i thought the members will do their own study. From what we can read from the article, Mr. Bani mentioned second half will have better growth. Hence, it is indirectly telling us Samudera Shipping will be even better in second half since most of the profit for PT Samudera is contribute by Samudera Singapore. We can also refer to PT. Temas' HY report to gauge whether the business is slowing down. PT Temas also reported a superb HY result earlier. 
Based on past few quarters record, Mr. Bani is someone walk the talk. He didnt over commit on the result of the group.
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Some key takeaway from the fund managers briefing.

1) Volume has dropped slightly but the freight cost remained at high side.
2) Volume will pickup late third quarter till forth quarter due to festive season.
3) The drop of spot rate doesn't affect Samudera much because they have long contract with their customer.
4) Mr. Bani is highly confidence second half's revenue will be better than first half.
5) New capacity will only arrive in the market late 2023 and 2024. Current new capacity in the market doesn't seem to interrupt the supply and demand. The supply is still tight.
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