This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Star Bulk Carriers Corp. Q1 2010 Earnings Call Transcript

We have gained certification for ISO 14000 Environmental Management. This certification ensures that all shore-side as well as shipboard operations and processes conform to strict standards aimed at protecting the environment and are documented, verifiable and constantly improving.

We actively participate along with a handful of major shipping companies in the European Union's energy efficiency research program entitled Targeted Advanced Research for Global Efficiency of Transportation Shipping or you might have heard it as TARGETS.

These two developments show our continued commitment towards enhancing our corporate responsibility and the quality of our operations, while still of course keeping focus on reducing our operating costs.

On the next slide four, we illustrate Star Bulk's growth overview. Within 2010, we have already contracted growth equal to 57% of our current fleet deadweight or 27% in number of vessels.

As you can see on the two graphs, Star Bulk has managed to grow its original fleet of eight vessels and just under 700,000 deadweight tons to 13 vessel of over 1.4 million tons within four years. This means that based on our current contract, our fleet will grow by 111% in deadweight and 62.5% in vessel terms by the end of 2011.

It is worth noting that in the process of growing our fleet, we have also been renewing it. During this period, we have sold three of our oldest ships and bought seven younger vessels, while we have also ordered two newbuilding Capesize vessels.

On slide five, we depict the results of our operating cost reduction campaign. This was achieved while enhancing our quality, as measured by objective metrics such as exceptional Port state control records and quality certifications.

As you can see in the two graphs, our operating expenses, or OpEx as we call it, has steadily decreased, both overall, but more importantly on a per vessel per day basis. Actually, our efforts towards operating cost reductions have played an important role in our improved financial performance. We are confident that our in-house technical management will continue to be instrumental in our quality objectives, while further optimizing our vessel operating costs.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SBLK $0.42 -2.30%
AAPL $94.01 -2.70%
FB $104.07 -5.81%
GOOG $684.00 -3.40%
TSLA $162.60 -7.26%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs