Capital Link Shipping announces that the Senior Management of
- Capital Product Partners L.P. (NASDAQ: CPLP), Mr. Ioannis
Lazaridis, CEO & CFO,
- d'Amico International Shipping S.A. (MILAN: DIS), Mr. Marco
Fiori, CEO
- Teekay Corporation (NYSE: TK), Mr. Peter Evensen, President
& CEO and/or Mr. Bruce Chan, President, Teekay Tanker
Services
- Tsakos Energy Navigation (NYSE: TNP), Mr. Nikolas Tsakos,
President & CEO and/or Mr. George Saroglou, COO
will participate in a Webinar Panel discussion on the tanker
shipping sector on Thursday, June 16, 2011 at 11:00 am EDT (4:00 pm
London, 11:00 pm Hong Kong).
The discussion will be moderated by Mr. Ken Hoexter, Managing
Director, Air Freight and Marine Transportation Analyst &
Co-Head Industrials Research, BofA Merrill Lynch Global Equity
Research.
The Tanker Forum is organized by Capital Link, a New York-based
Investor Relations and Financial Communications firm with strategic
focus on shipping.
ACCESS TO THE DISCUSSION The panel
discussion can be accessed only through a live audio webcast at
www.CapitalLinkWebinars.com or at Capital Link's Shipping Website
www.CapitalLinkShipping.com.
Participants to the live webcast should register on the website
approximately ten minutes prior to the start of the webcast. Please
go to the above indicate websites to register and access the
event.
After the event, the panel discussion will remain archived and
accessible through the same websites indicated above.
PANEL STRUCTURE -- TOPICS TO BE COVERED
The focus of the discussion (and the Q&A) will be only on
sector trends and fundamentals, and not on company specifics or
company recommendations. The discussion will cover four topics:
demand, supply, freight rates and asset values, valuations,
focusing on current trends and the sector's outlook. The discussion
will include both the crude (dirty) oil and the product (clean)
markets.
QUESTIONS FROM PARTICIPANTS Participants
can submit questions to the panelists prior to or during the event
through the special feature on the event page, or they can email
them to us at questions@CapitalLinkWebinars.com.
TRANSCRIPT A transcript of the panel
discussion will be publicly available at no cost within
approximately 48 hours after the event and those interested can
request it when they register for the event or afterwards through
the event page at websites indicated.
ABOUT TANKER SHIPPING: A principal
function of the tanker sector is to transport crude oil from oil
production and export facilities to oil terminals, storage
facilities, pipeline systems and oil refineries internationally. In
addition, tankers are also involved in the carriage of refined
petroleum products, such as gasoline, diesel, jet fuel and naphtha,
from refineries to storage and distribution systems, industrial
plants and other consumers. Tankers generally are a more
cost-effective alternative to pipelines and their advantages
increase over distance. Pipelines are also considered to be more
vulnerable to political instability, sabotage, economic blockade
and the risk of environmental disaster.
There are two principal types of providers of international
seaborne transportation services for crude oil and refined
petroleum products: independent shipowners and end users, such as
oil, energy, petrochemical and trading companies (both private and
state-owned). Tonnage controlled by end users is primarily
chartered from independent shipowners under short-term spot market
contracts and long-term time charters, with the balance being
directly owned. The prices for transporting crude oil and refined
petroleum products, which are referred to as tanker charter rates,
are set in highly competitive markets in which both independent and
end-user tonnage participate.
In recent years, the tanker sector has undergone a process of
consolidation that has resulted in greater co-operation between
owners and charterers as both seek greater economic efficiencies
and continued improvements in quality, safety and environmental
protection standards. As a result, oil companies acting as
charterers, terminal operators, shippers and receivers are becoming
increasingly selective and rigorous in their inspection and vetting
of vessels and their acceptance of vessels and operators. Safety
and environmental protection has been a major focus of the tanker
industry over the past years. Regulations such as OPA 90 and IMO
have caused tanker owners to take extra care in the maintenance of
their vessels. According to IMO regulation, only double hull
tankers trade as of 2010 with single hull tankers phasing out.
Vessels in the tanker fleet can be divided into categories based
on their size in deadweight tons, or dwt, which is a vessel's
capacity for cargo, fuel, oil, stores and crew measured in metric
tons (1,000 kilograms). The following are the main categories of
tankers based on dwt: (1) Very Large Crude Carriers (VLCCs) --
tankers with capacity of 200,000 dwt and over; (2) Suezmax tankers
-- tankers with capacity ranging from 120,000 to 200,000 dwt; (3)
Aframax tankers -- tankers with capacity ranging from 80,000 to
120,000 dwt; (4) Panamax tankers -- tankers with capacity ranging
from 60,000 to 80,000 dwt; (5) Medium Range tankers (MR) -- tankers
with capacity ranging from 25,000 to 60,000 dwt, and (6) Small
tankers -- tankers with capacity up to 26,999 dwt. A 300,000 dwt
tanker can carry 2 million barrels of crude oil, while a Suezmax
can carry about 1 million barrels and an Aframax up to about
800,000 barrels.
Tankers that transport refined petroleum products are referred
to as products tankers. Products tankers generally range in size
from 10,000 to 80,000 dwt, although there are some larger products
tankers designed for niche long-haul trades, such as from the
Middle East to Japan, Korea and South East Asia. Products tankers
generally have cargo-handling systems that are designed to
transport several different grades of refined petroleum products
simultaneously. These systems include coated cargo tanks that
facilitate cleaning between voyages involving different
cargoes.
Ice Class tankers are vessels that have been constructed (in
compliance with Finnish-Swedish Ice Class Rules) with strengthened
hulls, a sufficient level of propulsive power for transit through
ice-covered routes and specialized machinery and equipment for cold
climates.
About Capital Product Partners L.P.
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands
master limited partnership, is an international owner of modern
double-hull tankers. The Partnership owns 21 vessels, including 18
modern MR tankers, two small product tankers and one Suezmax crude
oil tanker. Most of its vessels are under medium- to long-term
charters to BP Shipping Limited, Overseas Shipholding Group,
Petrobras, Arrendadora Ocean Mexicana, S.A. de C.V. and Capital
Maritime & Trading Corp. For more information about the
Partnership, please visit our website: www.capitalpplp.com.
CPLP-G
About d'Amico International Shipping S.A.
d'Amico International Shipping S.A. is a subsidiary of d'Amico
Società di Navigazione S.p.A., one of the world's leading privately
owned marine transportation companies, and operates in the product
tankers sector, comprising vessels that typically carry refined
petroleum products, chemical and vegetable oils. d'Amico
International Shipping S.A. controls, either through ownership or
charter arrangements, a modern, high-tech and double-hulled fleet,
ranging from 35,000 and 52,000 deadweight tons. The Company has a
history and a long tradition of family enterprise and a worldwide
presence with offices in key market maritime centres (London,
Dublin, Monaco and Singapore). The company's shares are listed on
the Milan Stock Exchange under the ticker symbol "DIS." For further
information please visit the company's website at
www.damicointernationalshipping.com.
About Teekay Corporation Teekay
Corporation transports approximately 10 percent of the world's
seaborne oil, has built a significant presence in the liquefied
natural gas shipping sector through its publicly-listed subsidiary,
Teekay LNG Partners L.P. (NYSE: TGP), is further growing its
operations in the offshore oil production, storage and
transportation sector through its publicly-listed subsidiary,
Teekay Offshore Partners L.P. (NYSE: TOO), and continues to expand
its conventional tanker business through its publicly-listed
subsidiary, Teekay Tankers Ltd. (NYSE: TNK). With a fleet of
approximately 150 vessels, offices in 16 countries and
approximately 6,400 seagoing and shore-based employees, Teekay
provides a comprehensive set of marine services to the world's
leading oil and gas companies, helping them seamlessly link their
upstream energy production to their downstream processing
operations. Teekay's reputation for safety, quality and innovation
has earned it a position with its customers as The Marine Midstream
Company. Teekay's common stock is listed on the New York Stock
Exchange where it trades under the symbol "TK." For further
information please visit the company's website at
www.teekay.com.
About Tsakos Energy Navigation Tsakos
Energy Navigation is one of the largest transporters of energy in
the world and controls a versatile fleet of modern crude and
product tankers with strong ice-class capabilities. To date, TEN's
pro forma fleet consists of 51 double-hull vessels of 5.5 million
dwt that includes three suezmax tankers currently under
construction totaling 472,000 dwt. TEN's balanced fleet profile is
reflected in 24 crude tankers ranging from VLCCs to aframaxes and
26 product carriers ranging from aframaxes to handysize and one LNG
carrier. The company has remained profitable every year since its
inception in 1993 and has been paying regular cash dividends since
its listing on the New York Stock Exchange in March 2002. TEN's
shares trade on NYSE under the ticker "TNP." For further
information please visit the company's website at www.tenn.gr.
About Capital Link Capital Link is a New
York-based advisory, investor relations and financial
communications firm. Capital Link has made a strategic commitment
to the shipping industry, becoming the largest provider of investor
relations and financial communications services to international
shipping companies listed on both the US and European Exchanges.
Capital Link's headquarters are in New York, with a presence in
London and Athens. Capital Link is a member of the Baltic Exchange.
www.capitallink.com. Capital Link's shipping website provides free
information to investors on all US and European listed shipping
stocks, as well as trading statistics, industry reports and
management interviews (www.capitallinkshipping.com).
Contact for Capital Link Shipping: Nicolas Bornozis
President Capital Link, Inc. 230 Park Avenue Suite 1536 New York,
N.Y. 10169 Tel. (212) 661-7566 Fax (212) 661-7526 E-mail:
shipping@capitallink.com Event Website:
http://www.capitallinkwebinars.com Shipping Portal:
http://www.capitallinkshipping.com Corporate Website:
http://www.capitallink.com
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