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 CEO Discusses Q1 2011 Results - Earnings Call Transcript

Turning to slide number 5, we’d like to point out in this slide that since reinstituting the dividend in the second quarter of 2009, we have rewarded shareholders with 8 consecutive dividends. Our dividend represent a meaningful yield which currently is the highest within the dry bulk universe, 8.7% on an annualized basis calculated as of yesterday’s close.

As you can see on the graph, only five out of 11 dry bulk peers distributed dividends to their shareholders, with Star Bulk having currently the highest dividend. I would like to remind our investors that Star Bulk is one of the few companies in the dry bulk industry that has paid dividends for 12 out of the 14 quarters since inception three years ago.

Slide 6 illustrates the fleet employment chart and counterparties, which you can also find on our website. 78% of our 2011 operating days are already picked, which most of the open days are in the Supramax category. Actually, our 2011 prime charter coverage in the Capesize sector is 94% (inaudible).

With charters expiring mainly in the Supramax category within 2011, we’re aiming to opportunistically recharter our vessels as the trade grade environment improves. I’ll not go into further details, as I believe the presentation is self-explanatory.

If you now turn to slide seven, we provide an overview of our counterparties, who are first class charterers while providing us with an excellent counterparty risk profile.

Please turn to slide eight for an update on our latest transaction. This morning, we announced that we have entered into definitive agreement to acquire two Capesize bulk carriers for approximately $51.5 million. The first Capesize vessel has a carrying capacity of approximately 168,000 tons and was built in South Korea in 1996. This vessel has a time charter agreement with a major mining company until November 2016 at a gross daily rate of 25,000 and is currently expected to be delivered to Star Bulk within July 2011.

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
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs