2020 Bulkers Ltd (TTBKF) Q2 2021 Earnings Call

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WEBVTT 00:00:00.217 -- 00:00:06.265 Welcome everyone to the second quarter 2021 earnings conference call for 2020 Bulkers. 00:00:06.265 -- 00:00:11.469 As usual, I'm also joined here today by our CFO, Vidar Halson. 00:00:11.471 -- 00:00:15.256 Before we start the presentation, we'd like to remind you that we'll be discussing matters 00:00:15.256 -- 00:00:19.642 that are forward-looking in nature. These forward-looking assumptions are based on the 00:00:19.642 -- 00:00:23.847 company's current views with regards to future events, and they're subject to risk and 00:00:23.847 -- 00:00:26.791 assumptions that are subject to uncertainties. 00:00:26.791 -- 00:00:31.910 Actual results may vary materially. And with that, I'll move over to the highlights 00:00:31.910 -- 00:00:34.471 for the quarter. 2020 00:00:35.515 -- 00:00:40.563 Bokers generated a record net profit of $17.1 million in the 00:00:40.563 -- 00:00:45.751 second quarter. We maintain a track record of having been profitable every quarter following 00:00:45.751 -- 00:00:50.756 the delivery of our first vessel in the third quarter of 2019. 00:00:51.112 -- 00:00:55.957 We continued to outperform the Cape size index during the second quarter and we achieved 00:00:55.957 -- 00:01:01.001 average time chart equivalent earnings of 39,500 per day compared to 00:01:01.001 -- 00:01:06.326 the Baltic Cape size index, which was approximately 31,000 per day in the quarter. 00:01:06.326 -- 00:01:11.131 For the months of April through June, we announced a total of 75 cents per share in cash 00:01:11.131 -- 00:01:16.897 distributions and dividends. This equals an annualized yield of just under 25% 00:01:16.897 -- 00:01:19.799 based on today's share price. 00:01:19.799 -- 00:01:24.024 Then over to some of the key events so far i...