Star Bulk Carriers Interview on Company Performance, Strategy, & Dry Bulk Shipping Sector Outlook
June 16 2022 - 10:44AM
Hamish Norton, President of Star Bulk Carriers Corp (NASDAQ: SBLK),
discussed with Barry Parker of Capital Link TV, Star Bulk’s key
1Q22 performance highlights and achievements, the corporate
strategy going forward, and the current state and outlook of the
dry bulk shipping market.
The full interview can be accessed on
the Capital Link TV YouTube page linked
below:https://youtu.be/w-8_rc2r6pY
The full list of Capital Link’s Trending News interviews
can be accessed through the link
below:https://capitallinkshipping.com/capital-link-tv/
About Star Bulk Star Bulk is a
global shipping company providing worldwide seaborne transportation
solutions in the dry bulk sector. Star Bulk’s vessels transport
major bulks, which include iron ore, minerals and grain, and minor
bulks, which include bauxite, fertilizers and steel products. Star
Bulk was incorporated in the Marshall Islands on December 13, 2006
and maintains executive offices in Athens, New York, Limassol,
Singapore and Germany. Its common stock trades on the Nasdaq Global
Select Market under the symbol “SBLK”. Star Bulk operates a fleet
of 128 vessels, with an aggregate capacity of 14.1 million dwt,
consisting of 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post
Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax and 17 Supramax
vessels with carrying capacities between 52,425 dwt and 209,529
dwt.
Star Bulk’s 1Q22 Earnings Presentation
can be accessed using the link
below:https://www.starbulk.com/media/uploads_file/2022/05/25/p1g3s7srp73dv1tto1ppp1bcbs1t4.pdf
On May 24th Star Bulk Carriers reported its
first quarter of 2022 financial results. Star Bulk’s CEO, Petros
Pappas commented: “Star Bulk reported strong results for the first
quarter of 2022, with Net Income of $170.4 million, EBITDA of
$220.7 million and TCE Revenues of $304.9 million. TCE for the
quarter was $27,405 / day per vessel, an increase of 77% YoY. This
result marks our strongest daily TCE performance for the first
quarter of a year, when rates are traditionally weaker, since 2009.
Looking to the next quarter, we have covered 74.3% of our available
days for Q2 at a TCE of $29,759 / day per vessel.
“We continue to return profits to our
shareholders, with the Board of Directors approving a dividend of
$1.65 per share as per the Company’s existing dividend policy. Over
the last four quarters, we have distributed a dividend of $5.60 per
share to our shareholders.
“Dry bulk market prospects are favorable,
notwithstanding the challenging global economic conditions. Main
driver remains the limited supply growth with the historically low
vessel orderbook and the upcoming environmental regulations further
suppressing orders and speeds. Demand is still robust with
continued strong commodity flows over longer distances due to
infrastructure investments and trade dislocations.”
Star Bulk’s 2020 ESG Report can be
accessed using the link
below:https://www.starbulk.com/media/uploads_file/2021/11/09/p1fk2ig1fmrqv1vnh1u80erl19ut4.pdf
About Capital Link Founded in
1995, Capital Link provides Investor & Public Relations and
Media services to several listed and private companies, including
companies featured in these webinars, podcasts and presentations.
All these, including the ones mentioned above, are for
informational and educational purposes and should not be relied
upon. They do not constitute an offer to buy or sell securities or
investment advice or advice of any kind. The views expressed are
not those of Capital Link which bears no responsibility for them.
In addition, Capital Link organizes a series of industry and
investment conferences annually in key industry centers in the
United States, Europe and Asia, all of which are known for
combining rich educational and informational content with unique
marketing and networking opportunities. Capital Link is a member of
the Baltic Exchange. Based in New York City, Capital Link has
presence in London, Athens & Oslo. For additional information
please visit: www.capitallink.com
Forward-Looking Statements
Capital Link’s webinars, podcasts and presentations may contain
"forward-looking statements." Statements that are predictive in
nature, that depend upon or refer to future events or conditions,
or that include words such as "expects," "anticipates," "intends,"
"plans," "believes," "estimates," "projects," "forecasts," "may,"
"will," "should" and similar expressions are forward-looking
statements. These statements are not historical facts but instead
represent only the beliefs of each participating Company regarding
future results, many of which, by their nature are inherently
uncertain and outside of the control of the Companies. Actual
results may differ, possibly materially, from those anticipated in
these forward-looking statements. For more information about risks
and uncertainties associated with the participating companies,
please refer to the regulatory filings of each participating
company with the SEC.
Investor Relations / Media
Contact:Nicolas Bornozis, President Capital Link, Inc.230
Park Avenue, Suite 1536 New York, N.Y. 10169Tel.: (212)
661-7566Fax: (212) 661-7526E-Mail: starbulk@capitallink.com
Star Bulk Carriers (NASDAQ:SBLK)
Historical Stock Chart
From Jul 2024 to Jul 2024
Star Bulk Carriers (NASDAQ:SBLK)
Historical Stock Chart
From Jul 2023 to Jul 2024