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

Safe Bulkers' CEO Discusses Q2 2012 Results - Earnings Call Transcript

In slide 5 we provide a background information for the company. We think our [inaudible] in our long history predecessor since 1958, we have experienced many shipping cycles, management investing in shipping activities show you through Safe Bulkers, cash is fully aligned with our public shareholders. Management has adopted [inaudible] approach resulting in operational excellence. Company’s policies are consistent and well adapted to market conditions.

On slide six we present average 40C [ph] Baltic cape and Baltic Panamax index. Capital market was challenging during the first half of 2012, affecting financial performance of main companies and asset values. Middle sized vessels such as Panamax and Kamsarmaxes have been trading relatively better than Cape sized vessels which were traded in the region of 8000. This is mainly due to the wider range of trading areas and transportable cargos of this class.

For example Panamaxes have been benefited from the increased trading at [inaudible] during the portion of the past six months due to the seasonal grain activity from South America. However, the unprecedented growth in South America has been a barrier in further growth of grain trading. Overall, presently, Panamax vessels are trading in the region of 7000 lower than the past 12 months average trade which was 11000 and considerably lower than the 10 years average which is about 27,800.

On the other hand, certain issues dominating that on our market and temporary easing of construction activity have pushed the Capes market at lower level as well below the historical averages, but in many cases even lower than their operating expenses. At this point, we remind you that all our Capes chartered out, chartered at comfortable levels.

Main reason for the current outlook of the market is the excess supply of vessels which is expected to increase in few of the big order book going forward in 2012 and in lesser extent in 2013.

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 $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs