Star Bulk Carriers Corp. · NASDAQ:SBLK
Star Bulk Carriers — Investor Presentation (October 2023)
15 slides from Star Bulk Carriers's investor presentation, October 2023
Slide 1: Corporate Presentation
CORPORATE PRESENTATION OCTOBER 2023
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: 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 (DWT) • Fleet of 127 vessels, on a fully delivered(1) basis, with an average age of ~11 years 14.1M
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 Acquired 3 newbuilding Newcastlemax vessels from Ocean Bulk Carriers 4000 100000 Acquired a fleet of 15 vessels Sold 8 vessels
Slide 5: Scaled Fleet with Significant Operating Leverage
SCALED FLEET WITH SIGNIFICANT OPERATING LEVERAGE Fleet Snapshot Fleet Breakdown (by DWT) Leverage to market strength and fuel spreads Ultramax / Newcastlemax / Supramax, Capesize, 53.7% • Largest dry bulk fleet among U.S. and European listed peers with 127 14.6% vessels, on a fully delivered(1) basi
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 Q2 2023 vessel OPEX(1) were $4,772 per vessel per day • Net cash G&A(2) expenses per vessel per day were $1,051 for Q2 2023 • We are consistently in the to
Slide 7: Continued Improvement of Balance Sheet
CONTINUED IMPROVEMENT OF BALANCE SHEET Balance Sheet Snapshot Healthy cash and competitive financing • Proforma total cash (1) of ~$457 million • $64 million of positive trade working capital and MtM of derivatives of $18 • Total debt and lease obligations(1) of $1,182 million million as of June 30t
Slide 8: Financing from Top Tier Institutions
FINANCING FROM TOP TIER INSTITUTIONS Long lasting relationships with leading financial institutions Industry leading financing cost During the last 5 years we have been able to raise more than $3.2 billion • Engaged in financing with top tier banks, leasing houses as well as export credit agencies.
Slide 9: A Solid and Transparent ESG Strategy
A SOLID AND TRANSPARENT ESG STRATEGY The Star Bulk To be the global leader in sustainable dry bulk shipping vision • Star Bulk is a signatory to the United Nations Global Compact supporting its Ten principles on human rights, labor, environment and anticorruption and committing to the broader develo
Slide 10: Market Update
MARKET UPDATE ED
Slide 11: Market Overview
MARKET OVERVIEW Fleet growth set to decrease significantly while demand for dry bulk commodities will continue to grow at a healthy pace Demand Outlook Weekly Rates by Segments Demand growth projected to rebound during 2023 2021 2022 2023 • Healthy demand across all dry bulk commodity groups, result
Slide 12: Demand to Remain Healthy Across All Dry Commodities
DEMAND TO REMAIN HEALTHY ACROSS ALL DRY COMMODITIES Healthy ton miles growth is forecast across all dry bulk commodity groups despite downward revisions of GDP forecasts and the Ukraine war disruptions. Iron Ore Trade (bn ton miles) Coal Trade (bn ton miles) 2010 2011 2012 2013 2014 2015 2016 2017 2
Slide 13: The Orderbook Is at 25+ Year Lows
THE ORDERBOOK IS AT 25+ YEAR LOWS Fleet growth is expected to decline significantly between now and the end of 2023, which is expected to support a tight market and elevated freight rates Orderbook as % of Existing Fleet 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 7.8% 10.0% 0.0% 1996 1997 1998
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 Dry Bulk Fleet Age Distribution (DWT) 38.7% 20.4% ECO 19.5% 11.5% 2.9% 5.2% 1.8
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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