Wachovia Transportation & Packaging Conference 8 September Eagle Bulk Shipping Inc. Eagle Bulk Shipping Inc. DELIVERING SUSTAINABLE GROWTH
|
|
- Rosa Lynch
- 5 years ago
- Views:
Transcription
1 Eagle Bulk Shipping Inc. Wachovia Transportation & Packaging Conference 8 September 2008 DELIVERING SUSTAINABLE GROWTH
2 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning of the Securities Acts. Forward-looking statements reflect management s current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although Eagle Bulk Shipping Inc. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, Eagle Bulk Shipping Inc. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forwardlooking statements include the strength of world economies and currencies, general market conditions, including changes in charterhire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in our vessel operating expenses, including dry-docking and insurance costs, or actions taken by regulatory authorities, ability of our counterparties to perform their obligations under sales agreements and charter contracts on a timely basis, potential liability from future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by Eagle Bulk Shipping Inc. with the US Securities and Exchange Commission. 1
3 Agenda Investment Thesis The Fleet Industry View Financial Overview Conclusion 2
4 Investment Thesis
5 The Eagle Story Delivering Sustainable Growth Modern Fleet Focus on Supramax Class One of the largest Supramax owners On-the-water fleet s average age of 6 years Newbuilding Program 35 new vessels Delivery schedule 3 vessels vessels vessels vessels vessels Charter Strategy Contracted revenues exceed $1 billion Open vessels provide upside potential 18 open vessels in profit-sharing charters Launch of Our First Newbuilding Vessel Wren in China - April 2008 Dividends to date: $6.10 Intent to grow 4
6 Newbuilding Program Update Launched first three newbuilding vessels: Wren - delivered in July 08, 70 days ahead of contract date Commenced 10 year profit-sharing time charter Woodstar- launched July 08 Crowned Eagle launched July 08 Launch of Our Second Newbuilding Vessel Woodstar in China - July 2008 Launch of Our Third Newbuilding Vessel Crowned Eagle in Japan - July 2008 Highly Accretive to Earnings, EBITDA and Free Cash Flow per Share 5
7 The Fleet
8 Modern, High Quality Geared Fleet of Supramax Vessels On-the-Water Fleet * No. of Vessels Deadweight Tons (dwt) Vessel Type Delivery 21 Vessels 1.08 million dwt 18 Supramaxes 3 Handymaxes Supramax Newbuilding - 3 Groups of Sister Vessels 4 Vessels 0.21 million dwt 53,100 dwt Series Vessels 0.28 million dwt 56,000 dwt Series Vessels 1.45 million dwt 58,000 dwt Series * Includes Redwing delivery in September 2008 One Delivered, 34 More Vessels to Come 7
9 Newbuilding Program Secures Sustainable Growth Cumulative Owned Days Cumulative No. of Vessels Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 Quarterly Deliveries Consistent Quarterly Increases in Owned Days 8
10 Eagle On a Solid Growth Trajectory $ m EBITDA Owned Days ,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 - (2,000) (4,000) (6,000) Fleet CAGR of > 20% 3x increase in Owned Days 9
11 Contracted Revenues Provide Stability.... $ m Contracted Revenues No. of ships Owned Days 25, , ,000 10, , Contracted Gross Revenues in Excess of $1 Billion Support Dividends 10
12 .... Open Days Provide Revenue Upside $ m At Average Daily Rate for Open days Days $40,000 $50,000 $60,000 Open Days 9,000 8,000 7,000 6,000 5,000 4,000 3, ,000 1, Additional Vessels to Deliver in
13 Open Days and Vessel Deliveries Increase Revenues Low case growth rate: 67% % High case growth rate : 106% % Does not include 6,000 additional vessel days to be added in Total Revenue ($ m) $700 $600 $500 Open Days Revenue at $60,000 per day Open Days Revenue at $50,000 per day Open Days Revenue at $40,000 per day Fixed Revenue $400 $300 $200 $100 $ Total Revenue = Fixed Revenue + Open Revenue (as per legend above) Long Term Sustainable Growth Benefits Shareholders 12
14 Industry View
15 Internal Demand Drives Chinese Economy Domestic demand accounted for over 70% of China s economic growth in 2007 China plans to spend RMB 5.1 trn ($744 bn) on infrastructure expansion during the current five-year plan RMB 3.8 trn($555 bn) investment in transportation infrastructure Add 12,000km railways by 2010 Increase port capacity from 3.4 bn tons to potential 5.4 bn tons 28,000 24,000 20,000 16,000 12,000 8,000 4, % 42.1% 13.7% 35.3% China s GDP by Expenditure (RMB bn) Net exports Investment Consumption (Government) Consumption (household) Source: Ministry of Railway, Ministry of Construction, JPMorgan research, BHP Waterway 0.45 Power grid 1.0 Others 0.3 Railway 1.25 Roads th Five Year Plan Infrastructure Investment (RMB trn) Roads Railway Power grid Waterway Others Infrastructure Expansion Supports Demand for Dry Bulk Commodities 14
16 China s Post-earthquake Rebuilding Plan Totals $147 bln $ 147 bln three-year rebuilding plan Source: National Development and Reform Commission Demand for Cement and Steel Expected to Benefit Supramax Class 15
17 Major Miners Add Significant Iron Ore Capacity Vale discloses plans to increase production capacity to 450 mtpa by 2012, up from 296 mtpa in 2007 Fortescue plans to more than double its annual production capacity to 120 mtpa of iron ore BHP Billiton plans to increase iron ore capacity to 160 mtpa in 2009, 200 mtpa in 2011 mtpa 180 Global Iron Ore Mine Capacity Expansions Australia Indian Sub North America Latin America Africa/ Mid East Europe Source: Lorentzen & Stemoco 16
18 Charterers Attracted by Versatility of Supramax Vessels Capesize Panamax IRON ORE COAL GRAINS Handymax/Supramax OTHER ORES CEMENT COKE STEELS SCRAP IRON AGGREGATES MISC. In m tons 975, , , , , ,145 99,596 92, , ,307 Cardinal Condor Falcon Goldeneye Griffon Harrier Hawk I Heron Jaeger Kestrel I Kite Kittiwake Merlin Osprey I Peregrine Shrike Skua Sparrow Tern Eagle vessels carried 3.6 million tons of cargo in 1H 2008 MISC. cargoes include potash and alumina 57% of Eagle s 1H Cargoes were Capesize and Panamax cargoes 17
19 Handymax Class Vessels India s Dry Bulk Trade Workhorse Dry Bulk Vessel Port Calls Cape Handymax Panamax Handysize Port Calls 4, % 5% 3,500 3,000 3,003 3,015 3,282 2,500 23% 2,000 58% 1,500 1,600 1,553 1,496 1, , Source: Indian Ports Association, Portworld, Braemar, May Capes Panamax Handymax Handysize Eagle Vessels First to Call at new Indian Port of Krishnapatnam (near Chennai) Supramax Flexibility Ideal for Trade to China, India & Gulf States 18
20 Shipyard Orders at Risk of Cancellation Rising labor costs, material costs, and tighter financing cause orderbook cancellations Labor costs rose 18% y-on-y Steel prices surged 51% Other raw material and component costs up 24% Steel component cost of a newbuilding has risen from 30% to 75% in the last five years In order to pass on higher cost, SLS Shipbuilding became the first yard in S. Korea to include steel-price escalations clauses in contract. Limited survey of 19 Chinese shipyard managers confirms that in 1H08, 10 shipyards realize 21 vessel order cancellations. July report estimates that 150 capesizes on order will not be delivered. Many orders do not have refund guarantees in place (all Eagle Bulk s refund guarantees are issued) Source: Hong Kong brokerage CLSA, Shipbroker Gibsons, Lloyd s List 19
21 Financial Overview
22 1H 2008 Financial Highlights Net Income of $29.3 million or $0.62 per share, up 43% from 1H2007 Net Time Charter Revenues of $73.9 million, up 34% from 1H 2007 EBITDA 1 of $55.4 million, up 24% y-on-y Declared and paid Cash Dividend of $1.00 per share Fleet Utilization of 99.8% 1 EBITDA, as defined by our credit agreement, is Net Income plus Interest Expense, Depreciation and Amortization, and Exceptional Items 21
23 2H 2008 Estimated Cash Break-Even Levels $9,400 per day cash breakeven cost for 2H 2008 $2,200 $548 Dry-Dock Vessel Expenses Technical Mgt Fees $1,650 $4,704 Cash G&A Cash Interest (net) $296 Vessel expenses include crew wages and related costs, the cost of insurance including credit risk insurance, expenses relating to repairs and maintenance, the cost of spares and consumable stores and related inventory, tonnage taxes, pre-operating costs associated with the delivery of acquired vessels including providing the newly acquired vessels with initial provisions and stores, and other miscellaneous expenses. The Company is anticipating higher crewing costs and higher costs for oil based supplies including lubes and paints. The Company is also making allowance for constraints in yard drydocking capacity which has driven up drydocking costs. 22
24 Strong Balance Sheet BALANCE SHEET DATA June 30, 2008 June 30, 2007 (in $ 000's) Cash $62,997 $22,879 Other Current Assets 6,418 3,984 Vessels, net 725, ,572 Advances for Vessel Construction 1 380,672 64,785 Restricted Cash 10,276 7,325 Other Assets 22,640 9,109 TOTAL ASSETS 1,208, ,654 Current Liabilities 14,771 8,843 Long-term Debt 665, ,377 Other Liabilities 21,017 4,693 Stockholders' Equity 506, ,741 Book Capitalization 1,172, ,118 Net Debt 2 / Capitalization 53% 41% 1 Newbuild Costs to be Capitalized eliminating any impact on current cash flows 2 Net Debt is pro forma after taking into effect 2Q Dividend payments of $23.4 million ( 08), $19.6million ( 07) Secure Growth 23
25 Conclusion
26 Conclusion - Accretive Growth Strategy CLEAR BENEFITS TO SHAREHOLDERS Fleet Growth begins in Q Ramp up in Open Days Re-charters of current fleet at strong current rates Significant increase in EBITDA Eagle Bulk Delivering Sustainable Growth 25
27 Eagle Bulk Shipping Inc.
UBS Best of Americas Conference. Eagle Bulk Shipping Inc. 11 September Eagle Bulk Shipping Inc. DELIVERING SUSTAINABLE GROWTH
Eagle Bulk Shipping Inc. UBS Best of Americas Conference 11 September 2008 DELIVERING SUSTAINABLE GROWTH Forward Looking Statements This presentation contains certain statements that may be deemed to be
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 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 informationEagle Bulk Shipping Inc. JPMorgan Aviation & Transportation Conference 11 March Eagle Bulk Shipping Inc.
JPMorgan Aviation & Transportation Conference 11 March 2009 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning
More informationEagle Bulk Shipping Inc. 4Q08 Results Presentation 3 March 2009
4Q08 Results Presentation 3 March 2009 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning of the Securities
More informationEagle Bulk Shipping Inc. 4Q 2005 Results Presentation
Eagle Bulk Shipping Inc. 4Q 2005 Results Presentation March 7, 2006 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the
More informationForward Looking Statements
Eagle Bulk Shipping Inc. 3Q 2005 Results Presentation November 14, 2005 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within
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 informationForm 10-Q. Eagle Bulk Shipping Inc. - EGLE. Filed: November 09, 2007 (period: September 30, 2007)
Form 10-Q Eagle Bulk Shipping Inc. - EGLE Filed: November 09, 2007 (period: 2007) Quarterly report which provides a continuing view of a company's financial position PART I FINANCIAL INFORMATION Item 1.
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 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 informationDryShips Inc. NASDAQ: DRYS George Economou, CEO. Jefferies & Co. 4 th Annual Shipping Conference, New York, September, 2007
DryShips Inc. NASDAQ: DRYS George Economou, CEO Jefferies & Co. 4 th Annual Shipping Conference, New York, 25-26 September, 2007 Forward Looking Statements Matters discussed in this presentation may constitute
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 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 informationGolden Ocean Group Limited. Preliminary Results for the Financial Year Introduction
Golden Ocean Group Limited Preliminary Results for the Financial Year 2004 Introduction Golden Ocean Group Limited ( Golden Ocean or the Company ) was incorporated as a wholly owned subsidiary of Frontline
More informationEagle Bulk Shipping Inc.
Eagle Bulk Shipping Inc. Annual Report 2009 Eagle Bulk Shipping Inc., headquartered in New York City, is a leading global owner of Supramax dry bulk vessels that range in size from 50,000 to 60,000 deadweight
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 informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q4 2007 Earnings Call February 14, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q3 2007 Earnings Call November 1, 2007 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains
More informationFinancial Results for the Six Months Ended 30 June October 2013
Financial Results for the Six Months Ended 30 June 2013 7 October 2013 Disclaimer Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements reflect the
More informationDryShips Inc. 3 rd Quarter and Nine Months Ended September 30, 2007 Earnings Presentation NASDAQ: DRYS
3 rd Quarter and Nine Months Ended September 30, 2007 Earnings Presentation NASDAQ: DRYS November 7, 2007 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking
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 informationFourth Quarter 2018 Earnings Presentation January 28, 2019
Fourth Quarter 2018 Earnings Presentation January 28, 2019 Safe Harbor Statement This document may contain forward-looking statements that reflects management s expectations for the future. The Private
More informationGenco Shipping & Trading Limited. Morgan Stanley Small Cap Executive Conference June 13, 2007
Genco Shipping & Trading Limited Morgan Stanley Small Cap Executive Conference June 13, 2007 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
More informationGenco Shipping & Trading Limited. Q Earnings Call February 25, 2009
Genco Shipping & Trading Limited Q4 2009 Earnings Call February 25, 2009 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationDryShips Inc. 1st Quarter Ended March 31, 2009 Earnings Presentation NASDAQ: DRYS
1st Quarter Ended March 31, 2009 Earnings Presentation NASDAQ: DRYS May 1 st, 2009 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking statements. Forward-looking
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 informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited JPMorgan Aviation & Transportation Conference March 19, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
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 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 informationNASDAQ: SBLK. 4 th Quarter and FY 2015 Financial Results
NASDAQ: SBLK 4 th Quarter and FY 2015 Financial Results March 2016 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain
More informationE AGLE B ULK S HIPPING I NC.
E AGLE B ULK S HIPPING I NC. A NNUAL R EPORT 2006 Eagle Bulk Shipping Inc. is the largest U.S. based owner of Handymax dry bulk vessels, with a modern fleet and cargo carrying capacity of 797,000 assets
More informationGenco Shipping & Trading Limited. Q Earnings Call February 28 th, 2018
Genco Shipping & Trading Limited Q4 2017 Earnings Call February 28 th, 2018 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationGeorge Economou, the Company s Chairman and Chief Executive Officer of DryShips Inc., commented:
DRYSHIPS INC. REPORTS SECOND QUARTER AND FIRST HALF 2007 RESULTS, THE ACQUISITION OF THREE ADDITIONAL VESSELS AND THE DISPOSAL OF ONE VESSEL August 21, 2007, Athens, Greece. DryShips Inc. (NASDAQ: DRYS),
More informationFinancial Highlights. Share and Per Share Data: Other Data: Number of Vessels Average age of Fleet (in years) 6 5 5
Eagle Bulk shipping inc. Annual Report 2012 Eagle Bulk Shipping Inc., headquartered in New York City, is a leading global owner of Supramax dry bulk vessels that range in size from 50,000 to 60,000 deadweight
More informationGenco Shipping & Trading Limited. Stephens Inc. Fall Investment Conference November 18, 2008
Genco Shipping & Trading Limited Stephens Inc. Fall Investment Conference November 18, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
More informationIncreasing Consolidation of Capesize Charterers
1 Increasing Consolidation of Capesize Charterers Iron ore and Coal transportation exceeds 2.7 billion tons annually and represents 53% of total seaborne dry bulk trade. Past ten years CAGR of approximately
More informationInterim financial information Golden Ocean Group Limited
Interim financial information Golden Ocean Group Limited First quarter 2016 May 24, 2016 Highlights The Company reports a net loss of $68.2 million and a loss per share of $0.22 for the first quarter of
More informationGenco Shipping & Trading Limited. Capesize Acquisition Conference Call July 19, 2007
Genco Shipping & Trading Limited Capesize Acquisition Conference Call July 19, 2007 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationDRYSHIPS REPORTS RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED DECEMBER 31, 2007
DRYSHIPS REPORTS RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED DECEMBER 31, 2007 February 14, 2008, Athens, Greece. DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services
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 informationPioneer Marine Inc. Announces Third Quarter 2014 Results
Pioneer Marine Inc. Announces Third Quarter 2014 Results MAJURO -- (Marketwired December 9, 2014) Pioneer Marine Inc. (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company,") a leading shipowner and global
More informationGenco Shipping & Trading Limited. Genco Unlimited On a course for success
Genco Shipping & Trading Limited Genco Unlimited On a course for success October 2017 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This
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 informationNASDAQ: SBLK. Financial Results Q2 2017
NASDAQ: SBLK Financial Results Q2 2017 August 2017 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
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 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 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 informationFORM 10-K. Eagle Bulk Shipping Inc. - EGLE. Filed: February 29, 2008 (period: December 31, 2007)
FORM 10-K Eagle Bulk Shipping Inc. - EGLE Filed: February 29, 2008 (period: December 31, 2007) Annual report which provides a comprehensive overview of the company for the past year 10-K - FORM 10-K Table
More informationGoldenport Holdings Inc. 3 rd Annual Invest in International Shipping & Marine Services Forum
Goldenport Holdings Inc. 3 rd Annual Invest in International Shipping & Marine Services Forum 12 October 2010 Forward-Looking Statement Matters discussed in this presentation may constitute forward-looking
More informationPRESENTATION OF NORDEN
PRESENTATION OF NORDEN EVP Martin Badsted SEB Nordic Seminar 8 January 2014 Copenhagen SEB Nordic Seminar 8 January 2014 1 A LEADING GLOBAL TRAMP OPERATOR Dry cargo Capesize Post-Panamax Panamax Handymax
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December
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 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 informationE AGLE B ULK S HIPPING I NC. A NNUAL R EPORT 2005
E AGLE B ULK S HIPPING I NC. A NNUAL R EPORT 2005 Financial Highlights In thousands, except share and per share amounts and ratios 2005 Financial Summary: Revenues $ 56,066 Income from Vessel Operations
More informationGenco Shipping & Trading Limited. Genco Shipping & Trading Limited
Genco Shipping & Trading Limited Genco Shipping & Trading Limited Investor Day December 11, 2006 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
More informationGenco Shipping & Trading Limited. Q Earnings Call November 8 th, 2018
Genco Shipping & Trading Limited Q3 2018 Earnings Call November 8 th, 2018 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
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 informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-K/A
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A Amendment No. 2 x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal
More informationInterim financial report for the period 1 January to 30 September 2010
Page 1 of 7 Interim financial report for the period 1 January to 30 September Highlights EBITDA was MUSD 5.2 for the first nine months, adjusted for the share options programme of MUSD 7.6. The result
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 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 informationBaltic Trading Limited
Baltic Trading Limited Annual Report 2011 Baltic Trading Limited is a drybulk company focused on the spot charter market. Baltic Trading transports iron ore, coal, grain, steel products and other drybulk
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation March 2018 1 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationproviding optimized global transportation of drybulk commodities
providing optimized global transportation of drybulk commodities Earnings Presentation Fourth Quarter 2018 6 March 2019 Disclaimer This presentation contains certain statements that may be deemed to be
More informationGenco Shipping & Trading Limited. Annual Report 2012
Genco Shipping & Trading Limited Annual Report 2012 Genco Shipping & Trading Limited Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide
More informationPioneer Marine Inc Announces Second Quarter 2014 Results
Pioneer Marine Inc Announces Second Quarter 2014 Results MAJURO -- (Marketwired August 29, 2014) Pioneer Marine Inc. (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global
More informationDRYSHIPS INC. REPORTS FIRST QUARTER 2007 RESULTS
DRYSHIPS INC. REPORTS FIRST QUARTER 2007 RESULTS May 29, 2007, Athens, Greece. DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes, today announced its
More information7 th Annual Invest in International Shipping Forum
7 th Annual Invest in International Shipping Forum March 21, 13 Ole B. Hjertaker, CEO 1 FORWARD LOOKING STATEMENTS This presentation contains forward looking statements. These statements are based upon
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation March 2017 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation September 2017 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationGenco Shipping & Trading Limited. Goldman Sachs 3 rd Annual Shipping Conference November 28, 2006
Genco Shipping & Trading Limited Goldman Sachs 3 rd Annual Shipping Conference November 28, 2006 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
More informationAnd we now pass the floor to one of your speakers today, Mr Spyros Capralos. Please go ahead sir.
Corporate Participants Star Bulk President and Chief Executive Officer George Syllantavos Star Bulk Chief Financial Officer Conference Call Participants Noah Parquette Cantor Fitzgerald Presentation Operator
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 information4 th Quarter and Full Year 2010 Results Presentation. 25 February 2011
4 th Quarter and Full Year 2010 Results Presentation 25 February 2011 Disclaimer Forward Looking Statement This presentation includes statements that are, or may be deemed to be, forward-looking statements
More informationGeorge Economou CEO, DryShips Inc. The China Effect. Marine Capital Conference September
George Economou CEO, DryShips Inc. The China Effect Marine Capital Conference September 6 2007 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking statements.
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 informationShip Finance International Limited 4Q 2016 Results
Ship Finance International Limited 4Q 2016 Results February 28, 2017 1 FORWARD LOOKING STATEMENTS This presentation contains forward looking statements. These statements are based upon various assumptions,
More informationDryShips Inc. ACQUISITION OF REMAINING MINORITY INTEREST IN DRILLING RIG UNIT NASDAQ: DRYS
ACQUISITION OF REMAINING MINORITY INTEREST IN DRILLING RIG UNIT NASDAQ: DRYS July 10, 2009 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking statements. Forward-looking
More informationDryShips Announces Significant Reductions in Its Capital Expenditures and Suspension of the Dividend Effective for the Fourth Quarter 2008
DryShips Announces Significant Reductions in Its Capital Expenditures and Suspension of the Dividend Effective for the Fourth Quarter 2008 Company Also Announces Preliminary Fourth Quarter 2008 Results
More informationThe Great Eastern Shipping Co. Ltd.
The Great Eastern Shipping Co. Ltd. Investor Conference,Goa February, 2007 Forward Looking Statements Except for historical information, the statements made in this presentation constitute forward looking
More informationStar Bulk Carriers Fourth Quarter and Fiscal Year End 2008 Financial Results.
Star Bulk Carriers Fourth Quarter and Fiscal Year End 2008 Financial Results. Operator: Thank you for standing by ladies and gentlemen and welcome to the Star Bulk Carriers conference call on the fourth
More informationThe New DryShips DryShips Inc.
The New DryShips DryShips Inc. NASDAQ: DRYS Investor Presentation Capital Link Conference March 12, 2018 Disclaimer About this Presentation This presentation (this Presentation ) has been prepared by DryShips
More informationCompany Presentation June 2009
Company Presentation NASDAQ: SBLK June 2009 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things, certain forward-looking statements,
More informationQ Financial Results
Q1 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 informationPioneer Marine Inc. Announces Financial Results for the Third Quarter and Nine Months Ended September 30, 2018
Pioneer Marine Inc. Announces Financial Results for the Third Quarter and 2018 MAJURO, MARSHALL ISLANDS -- (GlobeNewswire November 9, 2018) Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer
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 informationGenco Shipping & Trading Limited. Morgan Stanley Commodities and Shipping Conference June 9, 2009
Genco Shipping & Trading Limited Morgan Stanley Commodities and Shipping Conference June 9, 2009 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation December 2016 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More information2006 Annual Report SUCCESSFULLY EXECUTING OUR STR ATEGY
2006 Annual Report SUCCESSFULLY EXECUTING OUR STR ATEGY ABOUT US Genco Shipping & Trading Limited is a leading provider of international seaborne drybulk transportation services. Utilizing its 19 drybulk
More informationScorpio Bulkers Inc. Q Earnings Supplementary Presentation April 23, 2018
1 Scorpio Bulkers Inc. Q1 2018 Earnings Supplementary Presentation April 23, 2018 Safe Harbor Statement This document may contain forward-looking statements that reflects management s expectations for
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 informationFOURTH QUARTER AND FINANCIAL YEAR 2002 RESULTS
FRONTLINE LTD. FOURTH QUARTER AND FINANCIAL YEAR RESULTS Frontline Ltd. reports earnings before interest, tax, depreciation, and amortisation including earnings from associated companies (EBITDA) of $105.3
More informationPacific Basin Shipping Limited Announces 2004 Annual Results
Press Release 1 Pacific Basin Shipping Limited Announces 2004 Annual Results Hong Kong, March 1, 2005 Pacific Basin Shipping Limited ( Pacific Basin or the Company ; SEHK: 2343), one of the world s leading
More informationThe vessel sold in Q3 17 was delivered to new owners in Q Recognized gain in Q was $2.0 million
ResultsQ4-2017 1 FINANCIALS 2 HIGHLIGHTS Q4 2017 Delivery of a total of three vessels to the Company in Q4 2017. The vessel sold in Q3 17 was delivered to new owners in Q4 2017. Recognized gain in Q4 2017
More informationHIGHLIGHTS 1ST QUARTER 2002
1. quarter 2002 A/S Dampskibsselskabet TORM Marina Park Sundkrogsgade 10 DK-2100 Copenhagen Ø Denmark Tel: +45 39 17 92 00 Fax: +45 39 17 93 93 Telex: 22315 TORM DK E-mail: Website: Comtext: mail@torm.dk
More informationGenco Shipping & Trading Limited Aviation and Transportation Conference September 13, 2011
Genco Shipping & Trading Limited 2011 Aviation and Transportation Conference September 13, 2011 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
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 informationGenco Shipping & Trading Limited. Q Earnings Call August 2, 2012
Genco Shipping & Trading Limited Q2 2012 Earnings Call August 2, 2012 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains
More informationDRYSHIPS INC. REPORTS FINANCIAL AND OPERATING RESULTS FOR THE THIRD QUARTER 2016
DRYSHIPS INC. REPORTS FINANCIAL AND OPERATING RESULTS FOR THE THIRD QUARTER 2016 November 9, 2016, Athens, Greece. DryShips Inc. (NASDAQ:DRYS), or DryShips or the Company, an international owner of drybulk
More information