Star Bulk Carriers Corp. · NASDAQ:SBLK
Star Bulk Carriers — Investor Presentation (September 2017)
13 slides from Star Bulk Carriers's investor presentation, September 2017
Slide 1: Corporate Presentation
NASDAQ: SBLK Corporate Presentation September 2017
Slide 2: Forward-Looking Statements
Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking statements, that involve risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans,
Slide 3: Investment Highlights
Investment Highlights Ample liquidity and low cash breakeven Total cash of ~$245.4 million, one of the highest cash balances amongst dry bulk peers Low operating and G&A cost Fleetwide cash breakeven rates at ~$7,600 per day Strong Financial Position Minimal equity capex requirements going f
Slide 4: Strong Liquidity Position
Strong Liquidity Position Fleet-wide Net TCE FCF Breakeven Rate Cash & Debt position(1) $16,000 $14,750 $14,000 Total Cash (including minimum liquidity) (1) : $ 245.4m $12,000 $11,800 $10,000 $9,750 ~$7,600 $8,000 Total Debt & Capital lease obligations(1) : $ 1,047.5m $6,000 $4,000 $2,000 $0 Cap
Slide 5: Continued Operational Excellence
Continued Operational Excellence • For Q2 2017 vessel OPEX were $3,880(1) per vessel per day • Net cash G&A(2) expenses per vessel per day were $1,117 in Q2 2017 • We are in the top 5 dry bulk operators in Rightship Ratings We operate a fleet with one of the lowest average …without compromising qual
Slide 6: Industry Leading OPEX H1 2017
Industry Leading OPEX H1 2017 OPEX Benchmarking based on latest published financial statements Daily Opex per Vessel Peer Avg Daily OPEX per Vessel Avg Vessel Size of Fleet (dwt) Peer Avg Size of Vessels (dwt) $10,000 200 ,000 114,188 115,956 131,129 105,644 90,261 93,849 70,329 $9,000 78,133 (2) 56
Slide 7: Dry Bulk Supply Update
Dry Bulk Supply Update • 2017 Fleet growth running at +2.5% YTD and +3.7% y-o-y Dry Bulk Demolition Million DWT YTD Delivery activity at approximately 29.0 million dwt from 31.9 million dwt during the same period last year YTD Demolition activity at approximately 9.2 million dwt from 23.0 millio
Slide 8: Dry Bulk Demand Update
Dry Bulk Demand Update • Full Year 2017 ton miles growth at +3.9% vs +2.0% in 2016 Dry Bulk Trade – Full Year Growth (Tons) Iron ore ton-miles: +5.6% vs +3.6% in 2016 Thermal & Coking Coal ton-miles: +3.8% vs +0.0% in 2016 Grains incl. soybeans tons: +6.1% vs +3.9% in 2016 Minor bulk tons: +
Slide 9: Appendix
Appendix 9 Source: Clarkson Research Services Ltd. (Shipping Intelligence Network, database)
Slide 10: World class Institutional Shareholders
(1) World class Institutional Shareholders Shareholder Base Breakdown Oaktree Capital Management L.P. 50.6% • One of the largest private equity firms with $100 billion assets under management • Extensive involvement in shipping over the last decade 34.4% Pappas Family & Affiliates 5.3% • More than 3
Slide 11: Fleet Update
Fleet Update On a fully delivered basis, our fleet will consist of 74 vessels with 8.1 million dwt with average age of 7.8 years (1) 100 80 72 74 71 # of OTW vessels 10 10 10 60 14 14 14 3 3 3 40 20 20 20 4 4 4 20 12 12 12 9 11 8 0 Current Q4 2017 Q1 2018 Newcastlemax Capesize Post Panamax Kamsarmax
Slide 12: Fleet Employment Update
Fleet Employment Update We have fixed 17 vessels(1) on period charters: • We have 4 index-linked Newcastlemax vessels on consecutive voyages with a major miner and 1 index- linked time charter at BCI+32% Newcastlemax vessel with a major trading house Fleet Employment 2017 2018 Charter Vessel Size 3Q
Slide 13: Thank You
THANK YOU Contacts Company: Simos Spyrou, Christos Begleris Co ‐ Chief Financial Officers Star Bulk Carriers Corp. c/o Star Bulk Management Inc. 40 Ag. Konstantinou Av. Maroussi 15124 Athens, Greece Tel. +30 (210) 617-8400 Email: info@starbulk.com www.starbulk.com Investor Relations / Financial Medi
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