1. 2017 Shipping Market
Sincere Navigation Corp. (2605) Speaker：Lee Yih-Ren

2. 2017 Bulk Shipping – Positive/Negative Factors
POSITIVE FACTORS:
US President Mr. Donald J. Trump’s New Economic Policy
China: One Belt One Road
International Convention Regulation (Ballast Water Convention)
PRC increase steaming coal import
New Building reduction
NEGATIVE FACTORS
Iron ore inventory at PRC close to 140M mt.
Over age vessels available for demolition to be reduced.
Supply and demand unbalance.

3. Charter Hire for Bulk Vessel

4. Capesize Vessel Freight/Hire

5. Panamax Vessel Freight/Hire

6. Charter Hire for Tanker

7. VLCC WS & Hire

8. New Building & Demolition Summary

9. Vessel Newbuilding Statistic

10. Vessel Demolition Statistic

11. SNC Fleet List Existed Vessels: Newbuilding: 1 VLOC Bulk Carriers:
Capesize: 9
Kamsarmax: 2
Handymax: 2
Tanker: 3
Newbuilding: 1 VLOC

13. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Expressed in thousands of New Taiwan Dollars, except earnings per share)

14. CONSOLIDATED BALANCE SHEETS (Expressed in thousands of New Taiwan Dollars, except net worth per share)

15. EARNINGS AND DIVIDENDS IN PAST TEN YEARS (Expressed in thousands of New Taiwan Dollars, except earnings and dividends per share)

16. Questions & Answers

17. § The End §
Thanks for Listening.