Analyst Panel Discussion on the Dry Bulk Sector
Wednesday, September 5, 2007 - 11:00 am EDT
Live Audio Webcast at www.CapitalLinkShipping.com
Yes, I know it doesn't have the je ne sais quois of an announcement of an FDA approval. But this sector has historically been among the highest-yielding. I will post the transcript here when it is available.
Shipping Analysts from Bear Stearns (Scott Burk), Cantor Fitzgerald (Natasha Boyden), Jefferies & Company (Douglas Mavrinac) and Lazard Capital Markets (Urs Dur) will participate in a Virtual Panel discussion on the dry bulk shipping sector on Wednesday, September 5, 200 at 11:00 am EDT.
The Dry Bulk Analyst Virtual Forum is organized by Capital Link, a New York based Investor Relations and Financial Communications firm with strategic focus on shipping, in cooperation with NASDAQ International.
The panel discussion can be accessed only through a live audio webcast on Capital Link's Shipping website at www.CapitalLinkShipping.com, where it will remain archived afterwards.
The panel discussion will be moderated by Isabella Schidrich, Managing Director of NASDAQ International. The focus of the discussion (and the Q&A) will be on sector trends and fundamentals, as opposed to company recommendations. The discussion will cover four main topics: demand, supply, freight rates and asset values, and valuations, focusing on current trends and the sector's outlook.
Participants can submit questions to the analysts prior to or during the event through the special event page at www.CapitalLinkShipping.com Like, "How have I become so pathetic that a panel discussion on dry bulk shipping actually interests me?"
TRANSCRIPT
A transcript of the panel discussion will be publicly available within approximately 48 hours after the event and those interested can request a copy of it through www.CapitalLinkShipping.com.
About Dry Bulk Shipping:
International shipping plays a vital role in global trade given that 2/3 of the world's goods are transported by sea. The shipping industry provides a cost effective and practical means of transportation internationally of large volumes of cargoes.
The dry bulk carrier market refers to the transportation of homogeneous commodities in bulk. Dry bulk commodities are divided into two distinct categories, major bulks and minor bulks. Major bulks include iron ore, coal and grain, which are usually shipped on the larger size Capesize and Panamax vessels and comprise about 67% of dry bulk trade. Minor bulks are fertilizers, steels, sugars, cement etc., which are shipped in smaller more versatile vessels such as Handymax and Handysize, and comprise about 33% of the dry bulk commodities trade.
Dry bulk carrier ownership is fragmented with many owners and operators of shipping tonnage, including independent operators, state-controlled shipping companies and proprietary owners. Vessels utilised for transport of dry bulk cargoes are usually classified into four categories based on their carrying capacity in deadweight tons (DWT) (i) handysize (10,000-39,999 DWT) (ii) handymax/supramax (40,000-59,999 DWT) (iii) panamax (60,000-99,999 DWT) and (iv) capesize (higher than 100,000 DWT).
The shipping industry is highly cyclical, experiencing volatility in profitability, vessel values and charter rates resulting from changes in the supply of and demand for shipping capacity. Fluctuations result from the interaction of various factors between demand and supply. The demand for vessels is influenced by global and regional economic conditions, international trade developments, port congestion, trading routes and weather pattern changes, crop yields, armed conflicts, political developments, embargoes and strikes, demand for consumer goods, dry bulk commodities, and crude oil and oil products.
Supply of shipping capacity is mainly a function of the delivery of new vessels and the number of older vessels scrapped and is also affected, among other factors, by port congestion and regulation of maritime transportation practices by governmental and international authorities.
Dry bulk companies listed on US Exchanges include Diana Shipping (NYSE:DSX - News), DryShips (NasdaqGS:DRYS - News), Eagle Bulk (NasdaqGS:EGLE - News), Excel Maritime Carriers (NYSE:EXM - News), Euroseas (NasdaqGM:ESEA - News), FreeSeas (NasdaqCM:FREE - News), Genco Shipping (NYSE:GNK - News), Navios Maritime (NYSE:NM - News), OceanFreight (NasdaqGM:OCNF - News), Paragon Shipping (PRGN - News), Quintana Maritime (NasdaqGS:QMAR - News), TBS International (NasdaqGM:TBSI - News). Dry bulk companies listed in London include Goldenport (LSE:GPRT.L - News), Globus Maritime (AIM: GLBS), Global Oceanic Carriers (AIM: GOC).
