PRESENTATION OF NORDEN
|
|
- Moses Lambert
- 5 years ago
- Views:
Transcription
1 PRESENTATION OF NORDEN EVP Martin Badsted SEB Nordic Seminar 8 January 2014 Copenhagen SEB Nordic Seminar 8 January
2 A LEADING GLOBAL TRAMP OPERATOR Dry cargo Capesize Post-Panamax Panamax Handymax Handysize Dry Cargo NORDEN vessels Tankers Pool vessels Tanker MR Handysize Long history of strong performance World class fuel efficient fleet Significant upside through timecharter fleet and options SEB Nordic Seminar 8 January
3 ASSET LIGHT BUSINESS MODEL Active fleet can quickly be adjusted to demand and market conditions Fleet employment based on portfolio view Operator profit on top of asset exposure Flexible fleet Coverage and customer focus Capacity Employment Sale and purchase Technical competencies in-house Owned (45) Contracts of affreightment Customer relations Logistical efficiencies Option-based flexibility 5-7 year firm periods Chartered w. POP (49) TC out FFA market 2-10 year firm periods Quick and easy cover Flexibility and scale Arbitrage Single-trip charters Other chartered (187) Spot market Leverage of scale Operator profit People Brand Systems * Active fleet per 30 June 2011 SEB Nordic Seminar 8 January
4 PURSUING GROWTH AND ASSET UPSIDE Newbuilding prices viewed as attractive NORDEN has contracted 22 vessels since initiating current investment focus in late 2012 None of these can be replicated today All are fuel efficient designs from top yards Further investments being pursued Panamax Newbuilding price* (USDm) Source: Clarksons * Prices are for European spec. and first class yards SEB Nordic Seminar 8 January
5 DRY CARGO 2013 MARKET Improving market in 2013 Baltic Dry Index up 31% in 2013 driven by 2 nd half of 2013 up 74% Y/Y China s dry cargo imports up 14.3% YTD (Nov.) Record Chinese iron ore import in November (77.8 mt) Record Chinese minor bulk import up 24.5% YTD (Nov.) Dry bulk demand drivers from China continues to be strong Steel- and electricity production up 9% YTD (November) 10% increase Y/Y in industrial production in November Baltic Dry Index 2,500 2,000 1,500 1, Source: Baltic Exchange China dry cargo import (million tonnes) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q Iron ore Coal Other Source: Chinese Customs General Administration SEB Nordic Seminar 8 January
6 DRY CARGO DEMAND OUTLOOK INCREASED IRON ORE EXPORT CAPACITY The biggest 5 iron ore miners expect to bring 412 mtpa iron ore to the market by capacity growth of 14% p.a. 200 mtpa of new capacity is expected within 6-9 months and already progressing now Planned iron ore capacity expansions (mt) Vale has scheduled an expansion of 90 mtpa. in H2 2016, which are not included here E 2014E 2015E 2016E Vale Rio Tinto BHP Billiton Fortescue Anglo American Aust. Juniors India Other Source: Barclays SEB Nordic Seminar 8 January
7 DRY CARGO DEMAND OUTLOOK CHINESE IMPORT SUBSTITUTION The cost curve favours import since China is the marginal producer More than 30% of Chinese domestic iron ore producers are estimated to produce at costs above USD 100 per ton Chinese mines are the marginal producers, who will be crowded out by new seaborne supply Global iron ore cash cost by company, CIF China (USD/t) Source: Barclays SEB Nordic Seminar 8 January
8 DRY CARGO - SUPPLY OUTLOOK Decreasing fleet growth as expected Continued moderate orderbook despite increased ordering activity Dry Cargo fleet development (million dwt.) % % % 20-0% e 2014e -5% Realised additions Expected addtions Realised removals Expected removals Net fleet growth (RHS) Source: Clarksons, NORDEN forecast SEB Nordic Seminar 8 January
9 TANKERS - A LONG HISTORY OF STRONG PERFORMANCE NORDEN and the 1-year T/C (USD per day) 35,000 30,000 Avg. outperformance: +10% 25,000 20,000 15,000 10,000 5, M Source: Clarksons NORDEN MR 1-year T/C SEB Nordic Seminar 8 January
10 TANKERS - DEMAND Continued improvement in market balance in 2013 US emerging as major export hub driven by shale oil boom Significant refinery capacity expansions in Middle East will create strong growth in coming years US product export (mb/d) 5 Middle East product export (mt) Source: EIA Source: WoodMackenzie SEB Nordic Seminar 8 January
11 TANKERS SUPPLY Low net fleet growth in 2012 and 2013 High level of new contracting, but still manageable overall fleet growth in 2014 Total product fleet development (million dwt.) 8 6.0% 6 4.5% 4 3.0% 2 1.5% 0 0.0% e 2014e -1.5% Source: SSY Realised additions Expected addtions Realised removals Expected removals Net fleet growth (RHS) SEB Nordic Seminar 8 January
12 SUMMARY Dry Cargo Continued strong demand for seaborne raw materials Mining supply expansion is positive for volume growth Supply growth slowing NORDEN positioning for upside High operational leverage through timecharter fleet and options Investments in fuel efficient new-buildings Tanker Structural demand drivers remain strong US exports Refining expansions in Middle East and India Supply growth slightly increasing, but still at moderate level NORDEN well-positioned to benefit from higher rates and asset values Owned fleet doubled during the last 3 years Low coverage Economies of scale and proven track record in Norient Product Pool SEB Nordic Seminar 8 January
13 This presentation contains certain forward-looking statements reflecting the management s present judgment of future events and financial results. Statements relating to the remainder of 2013 and subsequent years are subject to uncertainty, and NORDEN s actual results may therefore differ from the projections. Factors that may cause such variance include, but are not limited to, changes in macro-economic and political conditions, particularly in the Company s principal markets; changes to the Company s rate assumptions and operating costs; volatility in rates and tonnage prices; regulatory changes; any disruptions to traffic and operations as a result of external events, etc. FORWARD LOOKING STATEMENTS SEB Nordic Seminar 8 January
14 THANK YOU FOR YOUR ATTENTION Get mobile version of NORDEN s website. Scan and add to home screen. Or go to m.ds-norden.com Dampskibsselskabet NORDEN A/S 52, Strandvejen DK-2900 Hellerup Denmark Phone: SEB Nordic Seminar 8 January
15 BACK UP FORWARD LOOKING STATEMENTS SEB Nordic Seminar 8 January
16 LAST 5 YEARS PERFORMANCE Earnings per share (USD) Return on equity % % 12.9% 4.4% % Cash flows, operations and investments Dividend yield % 3.3% Excel. share buy back of 2% 4.0% 3.0% 1.8% Net cash from investments Cash from operations SEB Nordic Seminar 8 January
17 FINANCIAL HIGHLIGHTS EBITDA (USDm) Q Q Q Q Q Added value excl. joint ventures (USDm) Q Q Q Q Q Key messages EBITDA of USD 19m Continued investment focus in expectation of improved markets in the coming years Vessel values up by 5% in the quarter Spike in dry cargo market indicate a more balanced market than previously assumed Best third quarter spot earnings in product tanker market in recent years Full year EBITDA guidance: USD 25-45m SEB Nordic Seminar 8 January
18 Q3 FINANCIALS Comments Tanker earnings significantly better than last year - T/C earnings 8% above the average 1-year T/C rates Best quarter in Dry Cargo this year - T/C earnings 21% above the average 1-year T/C rates Positive net profit Cash and securities of USD 529m USDm Q Q Q Y/Y % Q/Q % CM II Group % 93% O/A Group % 2% EBITDA Group EBITDA Dry Cargo EBITDA Tanker % 375% % N.A N.A. 34% Vessel sales % N.A Depreciation % 6% EBIT Group before impairment EBIT Group % -95% % -95% Net profit % -103% SEB Nordic Seminar 8 January
19 FINANCIAL STRENGTH = FUTURE GROWTH Strong capital structure Strong focus on cash flow generation Cash in low-risk deposit accounts and securities Newbuilding order book fully covered by available cash USD 218m bank debt Equity ratio at 80% Low gearing of book equity - gearing 0.58 Net committed cash USDm Q Q Adjusted Net Interest Bearing Assets* * Adjusted for prepayments on vessel sales and currency swaps. ** Present values Gearing T/C obligations** -1,749-1,665 Newbuilding installments less proceeds from vessel sales** Revenue from coverage** Net commitments Net gearing Gross gearing SEB Nordic Seminar 8 January
20 DRY CARGO FLEET OVERVIEW SEB Nordic Seminar 8 January
21 TANKER FLEET OVERVIEW SEB Nordic Seminar 8 January
22 FLEET VALUES AND NAV SEB Nordic Seminar 8 January
23 COVERAGE AND CAPACITY DRY CARGO SEB Nordic Seminar 8 January
24 COVERAGE AND CAPACITY TANKER SEB Nordic Seminar 8 January
25 THE SHARE (DNORD) Master data Shareholder capital DKK 43,000,000 Number of shares and denomination 43,000,000 shares of DKK 1 Composition of shareholders end-q ,048 registered shareholders owning 91.8% Approx. 50% international ownership Classes of shares 1 Voting and ownership restrictions None A/S Motortramp, Stensved Stock exchange Ticker symbol NASDAQ OMX Copenhagen DNORD 27.7% 8.2% 27.6% RASMUSSENGRUPP EN A/S, Kristiansand NORDEN (treasury shares) ISIN code DK % Other top 20 shareholders Bloomberg code DNORD.DC 20.2% 5.1% Other registered Non-registered Reuters code DNORD.CO SEB Nordic Seminar 8 January
NORDEN RESULTS. Third quarter of Hellerup, Denmark. 12 November Our business is global tramp shipping
NORDEN RESULTS Third quarter of 214 Hellerup, Denmark 12 November 214 NORDEN Third quarter of 214 results 1 AGENDA Group highlights Financials Dry Cargo Tankers 214 expectations Q & A NORDEN Third quarter
More informationNORDEN RESULTS. First quarter of Hellerup, Denmark. 13 May Our business is global tramp shipping. NORDEN - First quarter of 2014 results 1
NORDEN RESULTS First quarter of 214 Hellerup, Denmark 13 May 214 NORDEN - First quarter of 214 results 1 AGENDA Group highlights Financial Dry Cargo Tankers 214 expectations Q & A NORDEN - First quarter
More informationNORDEN RESULTS. Full year results of Hellerup, Denmark 7 March Our business is global tramp shipping. NORDEN Full year result of
NORDEN RESULTS Full year results of 2011 Hellerup, Denmark 7 March 2012 NORDEN Full year result of 2011 1 AGENDA Group highlights Strategy Financial highlights Market expectations Dry Cargo Tanker 2012
More informationPRESENTATION OF NORDEN
PRESENTATION OF NORDEN Jyske Bank Company Day 27 November 214 CFO Michael Tønnes Jørgensen Presentation of NORDEN 1 AGENDA NORDEN at a glance Group highlights Financials Dry Cargo Tankers 214 expectations
More informationHandelsbanken s Transport Seminar September 2011 THE PREFERRED PARTNER IN GLOBAL TRAMP SHIPPING. UNIQUE PEOPLE. OPEN MINDED TEAM SPIRIT. NUMBER ONE.
Handelsbanken s Transport Seminar September 2011 THE PREFERRED PARTNER IN GLOBAL TRAMP SHIPPING. UNIQUE PEOPLE. OPEN MINDED TEAM SPIRIT. NUMBER ONE. Dampskibsselskabet Handelsbanken s Transport NORDEN
More informationNORDEN RESULTS. Annual Report Copenhagen, Denmark. 1 March 2017 NORDEN ANNUAL REPORT 2016 RESULTS 1. Custodians of smarter global trade
NORDEN RESULTS Annual Report 216 Copenhagen, Denmark 1 March 217 NORDEN ANNUAL REPORT 216 RESULTS 1 AGENDA Group highlights Financials Dry Cargo Tankers 217 expectations Q & A NORDEN ANNUAL REPORT 216
More informationNORDEN RESULTS. Annual Report Copenhagen, Denmark 14 March Annual report 2017 CUSTODIANS OF SMARTER GLOBAL TRADE
NORDEN RESULTS Annual Report 217 Copenhagen, Denmark 14 March 218 1 Annual report 217 CUSTODIANS OF SMARTER GLOBAL TRADE AGENDA The NORDEN DNA Business update Market Review Latest developments Outlook
More informationNORDEN RESULTS. Q2 report. Copenhagen, Denmark 15 August Q2 REPORT 2018 CUSTODIANS OF SMARTER GLOBAL TRADE
NORDEN RESULTS Q2 report Copenhagen, Denmark 15 August 218 1 Q2 REPORT 218 CUSTODIANS OF SMARTER GLOBAL TRADE AGENDA Business update Dry Cargo Q2 update Market outlook Tankers Q2 update Market outlook
More informationJP J.P. Morgan Aviation, Transportation & Defense Conference, March 2011
JP J.P. Morgan Aviation, Transportation & Defense Conference, March 2011 1 TODAY S AGENDA Presentation of DS NORDEN (DNORD) Company profile Recent performance Fleet values Market expectations Full year
More informationHandelsbanken Transport Seminar. Martin Badsted Senior Vice President. Copenhagen, October 2009
Handelsbanken Transport Seminar Martin Badsted Senior Vice President Copenhagen, October 2009 THE PREFERRED PARTNER IN GLOBAL TRAMP SHIPPING. UNIQUE PEOPLE. OPEN MINDED TEAM SPIRIT. NUMBER ONE. Dampskibsselskabet
More informationFull-Year Results 2006 and 2007 outlook
Full-Year Results 26 and 27 outlook Carsten Mortensen, CEO Jens Fehrn-Christensen, CFO Copenhagen, ch 27, 27 1 TODAY S AGENDA 26 in highlights Dry Cargo Tanker Guidance for 27 Q&A Session THE PREFERRED
More informationDIRF. Martin Badsted Senior Vice President. Copenhagen, February 2010
DIRF Martin Badsted Senior Vice President Copenhagen, February 2010 THE PREFERRED PARTNER IN GLOBAL TRAMP SHIPPING. UNIQUE PEOPLE. OPEN MINDED TEAM SPIRIT. NUMBER ONE. Dampskibsselskabet Presentation of
More informationInterim report first half-year 2009
NASDAQ OMX Copenhagen A/S Nikolaj Plads 6 DK-1067 Copenhagen K Announcement no. 26 19 August 2009 Interim report first half-year 2009 First half-year highlights The profit for the first half-year of 2009
More informationInterim report - third quarter 2007
OMX Nordic Exchange Copenhagen A/S Nikolaj Plads 6 1067 Copenhagen K Announcement no. 39 29 November 2007 Interim report - third quarter 2007 The first three quarters - highlights The profit for the third
More informationInterim report third quarter 2011
Interim report third quarter 20 Announcement no. 35 15 November 20 Key figures and ratios (USD million) 20 EBITDA Group 36 1/1-30/9 20 124 Highlights: NORDEN revises its full-year estimates based on a
More informationInterim report first quarter 2011
Interim report first quarter 2011 Announcement no. 24 12 May 2011 Key figures and ratios (USD million) 1 st quarter 2011 EBITDA Group 48 Highlights: For the first quarter, NORDEN s operating earnings (EBITDA)
More informationSecond quarter and first half-year of 2017
Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 ANNOUNCEMENT NO. 7 17 AUGUST INTERIM REPORT Second quarter and first half-year of Results Adjusted result for : USD -3 million ( :
More information3 rd Quarter and 9 Months 2010 Financial Results
3 rd Quarter and 9 Months 2010 Financial Results NASDAQ: SBLK November 2010 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things,
More informationInterim report - first half 2006
Copenhagen Stock Exchange Nikolaj Plads 6 1067 Copenhagen K Announcement No. 20 23 August 2006 Interim report - first half 2006 First half 2006 - highlights The profit for the first half-year was USD 88
More informationFirst quarter of 2016
ANNOUNCEMENT NO. 11 4 MAY INTERIM REPORT First quarter of Adjusted result for the period : USD -5 million. ( Results for the period adjusted for Profits from the sale of vessels etc. and Fair value adjustment
More informationThird quarter of 2017
ANNOUNCEMENT NO. 8 9 NOVEMBER INTERIM REPORT Third quarter of Results Adjusted result for : USD 4 million ( : USD -12 million) Dry Cargo: USD 5 million (USD -8 million) Tankers: USD -1 million (USD -4
More informationThird quarter of 2016
ANNOUNCEMENT NO. 22 9 NOVEMBER INTERIM REPORT Third quarter of Adjusted result for the period* : USD -12 million ( : USD 18 million). EBIT : USD -13 million (USD 21 million), of which vessel sales make
More informationInterim report - first half 2005
Copenhagen Stock Exchange Nikolaj Plads 6 1067 Copenhagen K Announcement No. 21 23 August 2005 Interim report - first half 2005 First half 2005 - highlights In the first half-year, the profit for the period
More informationConference call Presentation of Q results 1 March 2012
Conference call Presentation of Q4 11 results 1 March 12 Safe Harbour Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current
More informationInterim Report Second quarter of 2018
Interim Report Second quarter of DAMPSKIBSSELSKABET NORDEN A/S 52, STRANDVEJEN, DK-2900 HELLERUP, DENMARK WWW.DS-NORDEN.COM CVR NUMBER 67758919 1/25 INTERIM REPORT Second quarter of Results Markets Performance
More informationSecond quarter and first half-year of 2016
ANNOUNCEMENT NO. 19 17 AUGUST INTERIM REPORT Second quarter and first half-year of Adjusted result for the period* : USD -4 million ( : USD 29 million). H1 : USD -9 million. EBIT : USD -34 million (USD
More informationwas RESULTS Q May 30, 2018
was RESULTS Q1-2018 May 30, 2018 FORWARD-LOOKING STATEMENTS Matters discussed in this presentation may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides
More informationPresentation of Q results
Presentation of Q1 2010 results 1 Highlights Results Tanker Division Bulk Division Fleet value Greater Efficiency Power Financial position 2010 guidance Coverage of earning days Profit before tax of USD
More informationTeleconference Q results
Teleconference Q4 21 results 1 Highlights Q4 21 Result Q4 loss before tax of USD 37m, before USD 35m impairment charge and USD 16m vessel sale adjustment Full year 21 loss before tax of USD 85m, before
More informationINTERIM REPORT SECOND QUARTER AND FIRST HALF- YEAR OF 2015
INTERIM REPORT SECOND QUARTER AND FIRST HALF- YEAR OF Announcement no. 16 12 August Group EBIT for the second quarter of of USD 36 million best result in 14 quarters ( : USD -27 million). Results for the
More informationInterim Report First quarter 2018
Interim Report First quarter DAMPSKIBSSELSKABET NORDEN A/S 52, STRANDVEJEN, DK-2900 HELLERUP, DENMARK WWW.DS-NORDEN.COM CVR NUMBER 67758919 1/24 INTERIM REPORT First quarter Results Markets Performance
More informationPareto Seminar, 1 December Roland M. Andersen, CFO
Pareto Seminar, 1 December 2009 Roland M. Andersen, CFO 1 Introduction to TORM and key facts Global footprint based on regional power and presence Superior advantage through modern product tanker fleet,
More informationEagle Bulk Shipping Inc. 2Q 2008 Results Presentation. 7 August 2008
Eagle Bulk Shipping Inc. 2Q 2008 Results Presentation 7 August 2008 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the
More information9 th Global Shipping & Logistics Conference
9 th Global Shipping & Logistics Conference NASDAQ: SBLK September 2012 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things, certain
More information5th Annual Shipping, Logistics & Offshore Services Conference
5th Annual Shipping, Logistics & Offshore Services Conference New York City, September 16, 2008 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking
More informationSEB Enskilda Nordic Seminar 2010 Roland M. Andersen, CFO
SEB Enskilda Nordic Seminar 2010 Roland M. Andersen, CFO Introduction to TORM and key facts Superior advantage through modern product tanker fleet, excellent quality delivery model and global reach through
More informationFirst Quarter 2012 Earnings Presentation April 26, 2012
First Quarter 2012 Earnings Presentation April 26, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section 21E
More informationPresentation of 2012 results 13 March 2013
Presentation of 212 results 13 March 213 Safe Harbor Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current expectations and
More information4 th Quarter and FY 2013 Financial Results
NASDAQ: SBLK 4 th Quarter and FY 2013 Financial Results March 2014 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationDryShips Inc. Informational Roadshow NASDAQ: DRYS
DryShips Inc. Informational Roadshow NASDAQ: DRYS June 2006 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities
More informationDryShips Inc. Informational Roadshow November/December 2005 NASDAQ: DRYS
DryShips Inc. Informational Roadshow November/December 2005 NASDAQ: DRYS Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal
More informationPresentation of Q results 7 November 2012
Presentation of Q3 212 results 7 November 212 Safe Harbor Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current expectations
More informationContact A/S Dampskibsselskabet TORM Tel.:
FIRST QUARTER REPORT 2006 THE RESULT WAS BETTER THAN EXPECTED Profit before tax for the first quarter of 2006 was USD 59.3 mill. (DKK 368.3 mill.). The result was better than expected. Expectations for
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q1 2006 Earnings Call May 4, 2006 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains
More informationDry Bulk Market Outlook 15 March Marine Money: Gulf Ship Finance Forum Prepared by Angelica Kemene Head of Market Analysis & Intelligence
Dry Bulk Market Outlook 15 March 2018 Marine Money: Gulf Ship Finance Forum Prepared by Angelica Kemene Head of Market Analysis & Intelligence Dry Bulk Demand Outlook Short term & long term demand Global
More informationThird Quarter 2012 Earnings Presentation October 23, 2012
Third Quarter 2012 Earnings Presentation October 23, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section
More informationNavios Partners Ownership Structure
First Quarter 2010 Earnings Presentation April 28, 2010 Agenda Company Overview Company Developments Review of Q1 2010 Financial Results Quarterly Cash Distribution Fleet and Operations Overview Industry
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q3 2005 Earnings Call November 3 rd, 2005 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationannual REpORt 2012 Dampskibsselskabet NORDEN A/S
annual REpORt 2012 Dampskibsselskabet NORDEN A/S CONTENTS MANAgEMENT COMMENTARy Highlights 2012-13 3 Key figures and financial ratios for the Group 4 Strategy update 5 Outlook for 2013 8 fleet development
More informationFirst Half and Second Quarter 2012 Financial Results
First Half and Second Quarter 2012 Financial Results NASDAQ: SBLK August 2012 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things,
More informationInterim Report Third quarter of 2018
Interim Report Third quarter of NORD COLORADO, built Supramax vessel calling Melbourne, Australia DAMPSKIBSSELSKABET NORDEN A/S 52, STRANDVEJEN, DK-2900 HELLERUP, DENMARK WWW.DS-NORDEN.COM CVR NUMBER 67758919
More informationJ. Lauritzen A/S Investor Update Interim Financial Report 2016 Q2
J. Lauritzen A/S Investor Update Interim Financial Report 216 Q2 August 216 Please read the disclaimer placed as the last slide in this presentation. Thank you. www.j-l.com Oceans of know-how 216 H1: As
More informationDampskibsselskabet NORDEN A/S ANNUAL REPORT. We seek excellence through a dedicated team effort from competent and motivated people
Dampskibsselskabet NORDEN A/S ANNUAL REPORT We seek excellence through a dedicated team effort from competent and motivated people Contents Highlights 1 Key figures and ratios for the Group 2 Management
More informationQ Financial Results
Q2 2015 Financial Results Management Team Polys Hajioannou Chairman and CEO Dr. Loukas Barmparis President Konstantinos Adamopoulos Chief Financial Officer Ioannis Foteinos Chief Operating Officer Forward
More informationConSoliDaTeD annual RepoRT Dampskibsselskabet NORDEN A/S
ConSoliDaTeD annual RepoRT 2011 Dampskibsselskabet NORDEN A/S CONtENtS ManageMenT CoMMenTaRy Highlights 2011-12 3 Key figures and financial ratios for the group 4 Strategy update 5 outlook for 2012 8 Fleet
More informationDryShips Inc. 3 rd Quarter Ended September 30, 2013 Earnings Presentation NASDAQ: DRYS
3 rd Quarter Ended September 30, 2013 Earnings Presentation NASDAQ: DRYS November 5, 2013 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking statements. Forward-looking
More information8 M a r c h FY 2017 RESULTS TELECONFERENCE
8 M a r c h 2 0 1 8 FY 2017 RESULTS TELECONFERENCE SAFE HARBOR STATEMENT Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views
More informationPresentation of Q results
Presentation of Q3 2010 results 1 Safe Harbour Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current expectations and are subject
More informationNet interest-bearing debt amounted to USD 1,871 million in the first quarter of 2013, compared to USD 1,868 million as at 31 December 2012.
Interim report for the first quarter 2013 In the first quarter of 2013, TORM realized a positive EBITDA of USD 36 million and a loss before tax of USD 16 million. The seasonally strong first quarter in
More informationFreight Market Improves From Very Low Base
6 Oct 2016 Freight Market Improves From Very Low Base Baltic Handysize Index (BHSI) & Baltic Supramax Index (BSI) US$/day net* $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 BHSI: $2,563 30 Sep 2016:
More informationARDMORE SHIPPING CORPORATION Second Quarter 2014 Earnings Presentation. July 29, 2014
ARDMORE SHIPPING CORPORATION Second Quarter 2014 Earnings Presentation July 29, 2014 Disclaimer This presentation contains certain statements that may be deemed to be forward-looking statements within
More informationQ Financial Results
Q3 2014 Financial Results Management Team Polys Hajioannou Chairman and CEO Dr. Loukas Barmparis President Konstantinos Adamopoulos Chief Financial Officer Ioannis Foteinos Chief Operating Officer Forward
More informationDampskibsselskabet NORDEN A/S. We seek excellence through a dedicated team effort from competent and motivated people
Dampskibsselskabet NORDEN A/S We seek excellence through a dedicated team effort from competent and motivated people Annual Report 2009 Contents Highlights 3 Key figures and ratios for the Group 4 Management
More informationPacific Basin Overview
Morgan Stanley Asia Pacific Summit 2017 Singapore, Nov 2017 Pacific Basin Overview A leading dry bulk owner/operator of Handysize & Supramax dry bulk ships Cargo system business model outperforming market
More informationFourth Quarter & Fiscal Year 2008 Financial Results
Fourth Quarter & Fiscal Year 2008 Financial Results NASDAQ: SBLK March 17, 2009 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things,
More informationANNUAL REPORT 2017 CUSTODIANS OF SMARTER GLOBAL TRADE DAMPSKIBSSELSKABET NORDEN A/S
ANNUAL REPORT 2017 CUSTODIANS OF SMARTER GLOBAL TRADE DAMPSKIBSSELSKABET NORDEN A/S CONTENTS MANAGEMENT COMMENTARY FINANCIAL STATEMENTS INTRODUCTION 3 2017 highlights 6 NORDEN in short 8 Letter from the
More informationSeeking Alpha Maritime Investor Forum Presentation. 19 June 2017
Seeking Alpha Maritime Investor Forum Presentation 19 June 2017 Disclaimer This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning of Section
More information6th Annual Capital Link Invest in International Shipping Forum. Company Presentation
6th Annual Capital Link Invest in International Shipping Forum Company Presentation March 19, 2012 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section
More information6th Annual Shipping Conference
6th Annual Shipping Conference September 9, 2009 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section
More informationThe completion of a restructuring agreement is a prerequisite for TORM s continued operation.
Second quarter report 2012 TORM recognized a loss before tax of USD 59 million in the second quarter of 2012 before special items of USD -73 million. The financial results in the second quarter of 2012
More informationINVESTOR PRESENTATION JANUARY 2018
INVESTOR PRESENTATION JANUARY 2018 Safe Harbor Statement Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to
More informationGRINDROD LIMITED UNAUDITED INTERIM RESULTS AND DIVIDEND ANNOUNCEMENT for the six months ended 30 June 2017
www.grindrod.com GRINDROD LIMITED UNAUDITED INTERIM RESULTS AND DIVIDEND ANNOUNCEMENT for the six months ended 30 June 2017 Wifi access guest@sun Presentation and Announcement download www.grindrod.com
More information1 6 A u g u s t Q RESULTS TELECONFERENCE
1 6 A u g u s t 2 0 1 7 Q2 2017 RESULTS TELECONFERENCE SAFE HARBOR STATEMENT Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current
More informationThe cash flow from operating activities for the first quarter of 2010 was USD 21 million.
TORM posted a profit before tax of USD 3 million in the first quarter of 2010 under continued difficult market conditions. During the first quarter of 2010, the winter market and the increased industry
More informationPresentation of 2013 results
Presentation of 2013 results Safe Harbor Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current expectations and are subject
More informationStock Code: HSBC Shipping Day 2009, Hong Kong
Stock Code: 2343 HSBC Shipping Day 2009, Hong Kong Roadshow - 18 March 2009 Pacific Basin Overview World s leading dry bulk owner/operator of modern handysize vessels and a top 10 handymax operator, principally
More informationPresentation of Q results
Presentation of Q1 2013 results Safe Harbor Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current expectations and are subject
More information2016 Annual Results Highlights
29 Feb 2016 28 Feb 2017 2016 Annual Results Highlights 2016 2015 Operating Cash Flow US$50m US$99m EBITDA US$23m US$93m Cash Position US$269m US$358m Net Gearing 34% 35% Record low dry bulk market conditions
More informationDAMPSKIBSSELSKABET NORDEN A/S. Annual Report 2016
DAMPSKIBSSELSKABET NORDEN A/S Annual Report 2016 Contents Management commentary Key figures and financial ratios 3 2016 at a glance 4 Foreword by the Chairman and the CEO 6 Strategy 8 Asset Management
More informationPresentation of Q results SEB Nordic Seminar 10 January 2012
Presentation of Q3 211 results SEB Nordic Seminar 1 January 212 1 Safe Harbour Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's
More informationForward Looking Statements
1 Forward Looking Statements 2 This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in the Section 21E of the Securities
More information1 6 M a y Q RESULTS TELECONFERENCE
1 6 M a y 2 0 1 7 Q1 2017 RESULTS TELECONFERENCE SAFE HARBOR STATEMENT Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views
More informationSecond quarter report 2015
Second quarter report 2015 TORM has continued to benefit from the strong product tanker market that prevailed in the first half of 2015 where TORM generated an EBITDA of USD 100m, says CEO Jacob Meldgaard
More informationConsolidated Annual Report Dampskibsselskabet NORDEN A/S
Consolidated Annual Report 2010 Dampskibsselskabet NORDEN A/S Highlights Key figures and ratios for the Group Management s review Signatures Contents Management s review Highlights 2010-11 3 Key figures
More informationWachovia Transportation & Packaging Conference 8 September Eagle Bulk Shipping Inc. Eagle Bulk Shipping Inc. DELIVERING SUSTAINABLE GROWTH
Eagle Bulk Shipping Inc. Wachovia Transportation & Packaging Conference 8 September 2008 DELIVERING SUSTAINABLE GROWTH Forward Looking Statements This presentation contains certain statements that may
More informationEagle Bulk Shipping Inc. JPMorgan Aviation & Transportation Conference 19 March 2008
Eagle Bulk Shipping Inc. JPMorgan Aviation & Transportation Conference 19 March 2008 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements
More informationBusiness Performance in
Business Performance in 3 rd Quarter January 31, 2018 HP 0 Contents 3 rd Quarter Results [Consolidated] 2 Outline of 3 rd Quarter Results [Consolidated] 4 Full-year Forecast [Consolidated] 6 Key Points
More informationCopenhagen Stock Exchange Announcement no. 3 Nikolaj Plads 6 29 March 2006 DK-1067 København K Page 1 of 95
Dampskibsselskabet NORDEN A/S Copenhagen Stock Exchange Announcement no. 3 Nikolaj Plads 6 29 March 2006 DK-1067 København K Page 1 of 95 Record year for D/S NORDEN A/S The Board of Directors of D/S NORDEN
More informationQ Results August 29, 2012
Q2 2012 Results August 29, 2012 Forward looking statements MATTERS DISCUSSED IN THIS DOCUMENT MAY CONSTITUTE FORWARD-LOOKING STATEMENTS. THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES SAFE
More informationThoresen Thai Agencies Plc. 3Q FY 2010 Analyst Presentation 25 August 2010
Thoresen Thai Agencies Plc. 3Q FY 2010 Analyst Presentation 25 August 2010 Agenda I. 3Q FY 2010 Financial Highlights II. Key Drivers III. Business Outlook IV. Capital Structure & Investments V. Q & A 2
More informationpresentation shall not be construed as recommendations for buying or selling shares of China COSCO. China COSCO shall not be responsible for any
1Q2015 Results 30 April 2015 China COSCO Holdings Company Limited Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations
More informationPresentation of Q results
Presentation of Q2 2014 results Safe Harbor Statement Matters discussed in this presentation may constitute forward-looking statements. Such statements reflect TORM's current expectations and are subject
More informationFourth Quarter 2007 Earnings Presentation. February 11, 2008
Fourth Quarter 2007 Earnings Presentation February 11, 2008 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined
More informationINTERIM REPORT FIRST HALF-YEAR 2006 PROFIT UPGRADE FOR 2006
INTERIM REPORT FIRST HALF-YEAR 2006 PROFIT UPGRADE FOR 2006 In anticipation of continuing firm freight rates for the remainder of the year, the profit forecast for 2006 is upgraded to USD 230-250 million
More information2017 Annual Results - Highlights
28 Feb 2018 Highlights 1 2017 Annual Results - Highlights US$m 2017 2016 Change EBITDA 133.8 22.8 +111.0 Net profit 3.6 (86.5) +90.1 Cash 244.7 269.2 Net gearing 35% 34% Owned fleet / Total fleet * 105
More informationBusiness & Financial Presentation FY
The Great Eastern Shipping Company Ltd. Business & Financial Presentation FY 2004-05 April 29, 2005 1 Forward Looking Statements Except for historical information, the statements made in this presentation
More informationLooking Ahead: Key Themes for the Drybulk Market
Marine Money Ship Finance Forum November 12 th, 2014 Looking Ahead: Key Themes for the Drybulk Market Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking
More informationCapital Link International Shipping Forum. March 20, 2008
Capital Link International Shipping Forum March 20, 2008 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined
More informationQ4 & FY 2017 Financial Results. March 15, 2018
Q4 & FY 2017 Financial Results March 15, 2018 DISCLAIMER FORWARD-LOOKING STATEMENTS & INFORMATION This presentation contains forward-looking statements and forward-looking information within the meaning
More informationProduct tanker supply/demand in dwt rates are (so basically the inverse of last week s discussion). Currently, the one-year time charter
Crude Products Drybulk Containers AXIA Research An American s view from Piraeus Shipping Weekly Market Overview So, the elections happened just like everyone had predicted, and the markets responded just
More information