Value Investor's Edge Live #34: Star Bulk Carriers Updates On Surging Bulk Markets


Manage episode 295057164 series 2505215
由Player FM以及我们的用户群所搜索的Joseph Sancio and Seeking Alpha — 版权由出版商所拥有,而不是Player FM,音频直接从出版商的伺服器串流. 点击订阅按钮以查看Player FM更新,或粘贴收取点链接到其他播客应用程序里。

Hamish Norton, President of Star Bulk Carriers (SBLK), Co-CFOs Christos Begleris and Simos Spyrou, and SBLK Head of Research Constantinos Simantiras joined J Mintzmyer's Value Investor's Edge Live on June 8, 2021, to discuss the dry bulk markets and forward prospects and capital allocation. Star Bulk Carriers is the largest US-listed dry bulk company with 128 vessels on the water. With rates surging, SBLK is focused on the '2 Ds' of dividends and deleveraging. We expect to see substantial payouts throughout there year.

This interview and discussion is relevant for anyone with dry bulk investments or interest in the overall sector, including Diana Shipping (DSX), Eagle Bulk (EGLE), Eurobulk (EDRY), Genco Shipping (GNK), Grindrod Shipping (GRIN), Golden Ocean (GOGL), Navios Maritime (NM), Navios Maritime Partners (NMM), Pangea Logistics (PANL), Safe Bulkers (SB), Scorpio Bulkers (SALT), and Seanergy Maritime (SHIP).

Topics Covered

  • (<2:00) Intro/Disclosures
  • (2:00) What is driving the current strength in rates?
  • (3:45) What are the primary risk factors to watch?
  • (6:00) How big of an impact are China-Australia tensions?
  • (7:45) What is driving increased Capesize volatility?
  • (11:45) What is behind the huge disconnect in FFA levels?
  • (15:00) What is the current status of the newbuild market?
  • (18:15) How do proposed environmental regulations impact SBLK?
  • (23:30) How would a carbon tax or higher oil prices impact SBLK?
  • (25:00) Overall capital allocation priorities? Leverage target?
  • (27:00) Current strategy for time-charters vs. spot exposure?
  • (28:15) Updates on scrubber economics? Any hedging?
  • (33:00) What differentiates SBLK from peers, why invest here?

Learn more about your ad choices. Visit