Star Bulk Carriers Corp. · NASDAQ:SBLK
Star Bulk Carriers — Investor Presentation (January 2025)
15 slides from Star Bulk Carriers's investor presentation, January 2025
Slide 1: Corporate Presentation
CORPORATE PRESENTATION JANUARY 2025
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may include statements concerning the Company’s plans, objectives, goals
Slide 3: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS The largest, most liquid US-listed dry bulk company with significant operating leverage to a market with strong fundamentals The Largest US-Listed Dry Bulk Company Fleet Size (1) (DWT) • One of the largest market capitalization and greatest liquidity among US-listed peers •
Slide 4: Building an Institutional Dry Bulk Company
BUILDING AN INSTITUTIONAL DRY BULK COMPANY Development of fleet, market cap. and trading volume Successful track record of acquiring fleets by issuing shares at or above NAV Merged with Eagle Bulk, from which Acquired 3 newbuilding Newcastlemax we acquired 52 vessels from Ocean Bulk Carriers Suprama
Slide 5: Creating Value for Shareholders
CREATING VALUE FOR SHAREHOLDERS Total Shareholder Value Creation (in $million) Dividends (in $million) Total actions of $2.5 billion in shareholders value creation since 2021 $1,334 $1,095 $239 $961 $134 $713 Dividend Payments $526 $435 Share Buybacks $1,334 $435 $452 Regular Debt Amortization 2021
Slide 6: Continued Operational Excellence
CONTINUED OPERATIONAL EXCELLENCE We operate a fleet with one of the lowest average daily OPEX among our peers without compromising quality • For Q3 2024 vessel OPEX(1) were $5,114 per vessel per day • Net cash G&A(2) expenses per vessel per day were $1,262 for Q3 2024 • We are consistently in the to
Slide 7: Integration with Eagle Bulk Focuses on Synergies
INTEGRATION WITH EAGLE BULK FOCUSES ON SYNERGIES • Technical and commercial management of the ex-Eagle fleet has been established across three Star Bulk offices, Athens (HQ), Singapore, and Stamford, USA, leveraging the combined global presence. • Commercial teams for the Supramax and Ultramax vesse
Slide 8: Scaled Fleet with Significant Operating Leverage
SCALED FLEET WITH SIGNIFICANT OPERATING LEVERAGE Fleet Snapshot Fleet composition (based on dwt) • We have five firm shipbuilding contracts with Qingdao Shipyard for the construction of 82k dwt Kamsarmax newbuilding vessels Ultramax / Supramax • Our newbuilding vessels are expected to be delivered i
Slide 9: A Solid and Transparent ESG Strategy
A SOLID AND TRANSPARENT ESG STRATEGY The Star Bulk vision To be the global leader in sustainable dry bulk shipping • Committed to the United Nations Global Compact, endorsing its Ten Principles on human rights, labor, environment, and anti-corruption • Contributing to the advancement of the United N
Slide 10: Market Update
MARKET UPDATE ED
Slide 11: Market Overview
MARKET OVERVIEW Effective fleet growth will be limited, but demand for dry bulk commodities in 2025 likely to grow at a slower pace compared to the last 2 years Supply Outlook - Favorable short- & medium-term dynamics Weekly Rates by Segments • Fleet growth during 2025-27 unlikely to exceed 3.0% per
Slide 12: Demand to Remain Healthy Across All Dry Commodities
DEMAND TO REMAIN HEALTHY ACROSS ALL DRY COMMODITIES Ton miles to grow at a healthy pace across all dry bulk commodity group supported by new Atlantic mines and trade inefficiencies. Iron Ore Trade (bn ton miles) Coal Trade (bn ton miles) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 20
Slide 13: Favorable Orderbook to Limit Supply Growth
FAVORABLE ORDERBOOK TO LIMIT SUPPLY GROWTH Fleet growth to continue at relatively low levels over the next years and is expected to support freight rates. Orderbook as % of Existing Fleet 90.0% 80.2% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 24.6% 24.9% 20.0% 12.2% 10.6% 8.0% 7.2% 7.2% 10.0% 0.0% 1999 200
Slide 14: Effective Fleet Capacity May Be Further Reduced
EFFECTIVE FLEET CAPACITY MAY BE FURTHER REDUCED A large portion of the dry bulk fleet is not fuel efficient, and the only way to decrease fuel consumption and emissions without incurring Capex is to reduce sailing speeds. Structural increase in off hires related to DD/SS of aging fleet and retrofit
Slide 15: Thank You
THANK YOU Contacts Company: Investor Relations / Financial Media: Simos Spyrou, Christos Begleris Nicolas Bornozis Co ‐ Chief Financial Officers President Star Bulk Carriers Corp. Capital Link, Inc. c/o Star Bulk Management Inc. 230 Park Avenue, Suite 1536 40 Ag. Konstantinou Av. New York, NY 10169
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