Dry Bulk Shipping Sector Forum
Developments & Prospects


Presented by  
      


Media Sponsor  



Thursday, July 22, 2010 9:30 AM ET

2:30 PM LONDON | 
3:30 PM PARIS | 4:30 PM ATHENS | 
 

DURATION: 40 MINUTES FOLLOWED BY Q&A SESSION 

LISTEN TO OUR EXPERT PRESENTERS LIVE FROM YOUR OWN DESK
 

 

Introductory Remarks by:

Mr. Nicolas Bornozis, President - Capital Link


Moderated by:

Mr. Michael Webber, Vice President & Senior Equity Analyst - Wells Fargo Securities


Featured Panelists:

Mr. Babis Mazarakis, Chief Operating Officer - Excel Maritime Carriers Ltd (NYSE: EXM)
Mr. Michael Bodouroglou, Chief Executive Officer - Paragon Shipping (NYSE: PRGN)
Mr. Akis Tsirigakis, Chief Executive Officer - Star Bulk Carriers (NASDAQ: SBLK)
Mr. Joseph Royce, Chief Executive Officer - TBS International (NASDAQ: TBSI)


Panel Structure

The focus of the discussion (and the Q&A) will be only on sector trends and fundamentals, and not on company specifics or company recommendations. The discussion will cover the dry bulk sector including: current situation, demand/supply side, freight rates & asset values and shipping valuations.


Q&A Session - Submitting Questions

Participants can submit questions to the panelists prior to or during the event through the special feature on the event page, or they can email them to us at questions@CapitalLinkWebinars.com.

The Dry Bulk Shipping Sector Forum is organized by Capital Link, a New York-based Investor Relations and Financial Communications firm with strategic focus on shipping,

A Free and Invaluable Resource



This webinar will also be available on demand at any time after the live broadcast



Transcript

A transcript of the panel discussion will be publicly available at no cost within approximately 48 hours after the event and those interested can request it when they register for the event or afterwards through the event page at websites indicated.


Webinar Overview

Dry bulk shipping is a vital link in the global economy and trade and is widely viewed as a proxy to the global economic recovery. After a steady recovery in the earlier part of the year the Baltic Dry Index (BDI) which is viewed as the industry barometer for the spot market, (but not a precursor of future developments) had fallen for 35 consecutive sessions from May 27 through July 15, reaching its lowest level since April 17, 2009.

This webinar comes at the proper time as investors and industry participants reflect and debate on what brought the market to its current levels and what lies ahead. The webinar, led by an esteemed panel of dry bulk ship owners will examine the developments and prospects of dry bulk shipping. It will cover six main topics; current developments and the current status of the market; the demand side, the supply side, freight rates and asset values, market valuations. It will address key demand and supply issues including China, India, Brazil and other economies, the trend for coal, iron ore, grain and dry cargo, expansion and consolidation opportunities, and more. .


Who Should Attend?

Buy Side Analysts and Portfolio Managers • Chief Investment Officers • Chief Risk Officers • Commercial Bankers • Energy & Commodities Traders • Financial Advisors • Financial Planners • Hedge Fund Managers • Institutional Sales • Investment Bankers • Law Firms • Private Bankers • Private Equity Firms • Registered investment Advisors • Retail Brokers • Sell Side Analysts • Ship Brokers • Ship Charterers • Ship Operators • Ship Owners • Sovereign Wealth Funds

Bios

Michael Webber
Vice President & Senior Equity Analyst
Wells Fargo Securities


Michael Webber rejoined Wells Fargo Securities in 2010 as a Vice President and Senior Equity Analyst covering the Ocean Shipping Sector. Prior to joining the company, Mike was a member of the Deutsche Bank Securities' transportation equity research team, with lead responsibility for the ocean shipping and equipment leasing sectors. Prior to joining Deutsche Bank, Mike was a senior associate on Wells Fargo's transportation research team from 2006-2009, and he began his career in financial services with Legg Mason in 2004. Mike is a graduate of the University of Virginia, and holds the CFA designation.



Babis Mazarakis
Chief Operating Officer
Excel Maritime Carriers Ltd (NYSE: EXM)


Charalampos (Babis) Mazarakis was appointed Chief Operating Officer in May, 2010. Mr. Mazarakis has 20 years of experience in finance and operations positions, mostly at senior level. Mr. Mazarakis started his career in 1991 at Procter & Gamble in Greece. From 1999 to 2008 Mr. Mazarakis held a number of senior positions within the Vodafone Group, namely Group CFO in Greece, Interim CEO in Hungary and COO in Greece. In 2008, Mr. Mazarakis moved to Titan Cement Group (an international building materials company) as Group CFO. Mr. Mazarakis holds an undergraduate degree in business administration from the University of Piraeus, Greece and an MBA from The Ohio State University, USA.



Michael Bodouroglou
Chief Executive Officer
Paragon Shipping (NYSE: PRGN)


Michael Bodouroglou, the founder and Chief Executive Officer of Paragon Shipping, has been involved in the shipping industry in various capacities for more than 25 years. He has served as Paragon Shipping's chairman and chief executive officer since the company was founded in June 2006.

Mr. Bodouroglou has owned and operated tanker and drybulk vessels since 1993. He is the founder of Allseas Marine Inc. which serves as the technical and commercial managing company to the Paragon fleet. Prior to 1993, Mr. Bodouroglou was employed as a technical superintendent supervising both tanker and drybulk vessels for various shipping companies.

In 1977 Mr. Bodouroglou graduated with honours from the University of Newcastle-upon-Tyne in the United Kingdom with a Bachelor of Science in Marine Engineering and in 1978 he was awarded a Masters of Science in Naval Architecture. Mr. Bodouroglou is a member of the Cayman Islands Shipowners' Advisory Council and is also a member of the Board of Academic Entrepreneurship of the Free University of Varna, Bulgaria. In 2007 he was appointed as a member of the Hellas Committee of the classification society, Germanischer Lloyd, which focuses on continuously improving safety at sea.



Akis Tsirigakis
Chief Executive Officer
Star Bulk Carriers (NASDAQ: SBLK)


Akis Tsirigakis is the founder, President and Chief Executive Officer, of Star Bulk Carriers Corp. (NASDAQ : SBLK) and its predecessor Star Maritime Acquisition Corp., a Special Purpose Acquisition Company or SPAC since its inception in May 2005. Mr. Tsirigakis is experienced in ship management, ship ownership, ship-building. He had formerly served on the board of directors of DryShips Inc., a Nasdaq listed company. From November 2003 until December 2007, he was the Managing Director of Oceanbulk Maritime S.A., a dry cargo shipping company that has operated and managed vessels aggregating as much as 1.6 million deadweight tons of cargo capacity and which is part of the Oceanbulk Group of affiliated companies involved in the service sectors of the shipping industry. Since November 1998, Mr. Tsirigakis founded and has been the Managing Director of Combine Marine Inc. a company that provides ship management services to third parties. From 1985 to 1998, Mr. Tsirigakis was Vice-President and Technical Director of Konkar Shipping Agencies S.A. of Athens, managing at the time 16 dry bulk carriers, tanker/combination carriers and multi-purpose vessels. From 1981 to 1985, Mr. Tsirigakis was Technical Manager of Arkon Shipping Agencies Inc. of New York, an affiliate of the Archirodon Construction Group. He is a member of the Technical Committee (CASTEC) of Intercargo, the International Association of Dry Cargo Shipowners, President of the Hellenic Technical Committee of RINA Classification Society and a member of the Technical Committee of Bureau Veriatas. Mr. Tsirigakis in 1979 received his Masters degree (BSc 1978) in Naval Architecture from the University of Michigan, Ann Arbor and has three years of seagoing experience.



Joseph Royce
Chief Executive Officer
TBS International (NASDAQ: TBSI)


Mr. Royce has been President, Chairman and a director of TBS International (NASDAQ: TBSI) since inception, and Chief Executive Officer since March 2005. Since 1993, Mr. Royce has served as President of TBS Shipping Services, a subsidiary of TBS International that provides commercial and operational management. Mr. Royce has over 40 years experience in the maritime industry and has expertise in breakbulk, liner and bulk cargo shipping in developing economies.

TBS is a fully-integrated transportation service company that offers customers the TBS Five Star Service consisting of ocean transportation, operations, logistics, port services and strategic planning. We offer liner, parcel and bulk services, supported by a fleet of 48 multipurpose tweendeckers and handysize and handymax bulk carriers, including specialized heavy-lift vessels and newbuild tonnage. TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa, the Caribbean and Middle East.

Since 1973, Mr. Royce has organized and managed ventures engaged in ownership and operation of vessels. Between 1984 and early 1993, Mr. Royce was president of COTCO, a dry cargo pool of over 45 vessels. From 1973 to 1983, he was active as a shipbroker and independent ship operations manager involved in the shipment of various products worldwide.

Mr. Royce earned a bachelor's degree in Economics from Iona College in Westchester, New York. Since 2007, Mr. Royce has served as a director of Covenant House New York, the not-for-profit adolescent care agency.



Nicolas Bornozis
President
Capital Link, Inc.


Since 1996 Mr. Nicolas Bornozis is the founder, President and CEO of Capital Link, Inc., an international investor relations and financial advisory group. It assists listed companies and capital markets related organizations to develop and maintain access to European and North American investors. Capital Link has offices in New York, London and Athens and is a leader in investor relations for listed shipping companies, U.S. Closed-End Funds and ETFs and international companies accessing the U.S. and European markets.

He also established and managed, Alexander Capital, L.P, a US broker-dealer firm, which developed brokerage and investment banking business in North America with the Greek, Egyptian and Russian markets. Sold the company at the end of 2003 to a group of US investors representing Russian interests. Between 1998 and 2002, he also established and managed Alexander Asset Management, Inc. which handled portfolios invested in the Greek and European equity markets.

Prior to Capital Link (1988-1995), he served as President and CEO of CCF International Finance Corp. (CCF IFC), the US broker/dealer subsidiary of Credit Commercial de France, now part of HSBC, and worked at the International Department of Bankers Trust Company in New York (1982-1984) and then at the Commercial Banking operation of CCF in New York (1985-1987) focusing on the financing of Wall Street firms and shipping.

He holds an MBA from Harvard Business School (1982) and a Law Degree from the University of Athens (1979(, in Greece with specialization in commercial and corporate law and is a graduate of Athens College in Greece.

For a period of twelve years he was a Visiting Lecturer on International Banking and Finance at the City University Business School (Department for Shipping Trade and Finance) in London, United Kingdom. Also, he served as Chairman of the Investment Management Committee of the Harvard Business School Club in New York.



About Excel Maritime Carriers Ltd (NYSE: EXM)      

Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products. Excel owns a fleet of 41 vessels with 1 Capesize vessel being owned through a joint venture in which Excel participates by 71.4%, together with 7 Panamax vessels under bareboat charters and operates in total 48 vessels (6 Capesize, 14 Kamsarmax, 21 Panamax, 2 Supramax and 5 Handymax vessels) with a total carrying capacity of over 4.0 million DWT. Excel Class A common shares have been listed since September 15, 2005 on the New York Stock Exchange (NYSE) under the symbol EXM and, prior to that date, were listed on the American Stock Exchange (AMEX) since 1998. For more information about the Company, please go to our corporate website www.excelmaritime.com.


About Paragon Shipping Inc. (NYSE: PRGN)      

Paragon Shipping Inc. is an Athens, Greece-based international shipping company specializing in the transportation of drybulk cargoes. The Company's current fleet consists of eleven vessels with a total carrying capacity of 719,483 dwt and expects to take delivery of the 75,151 dwt panamax bulkcarrier "Dream Seas" within July, 2010. The Company has agreed to acquire three Kamsarmax newbuildings with expected delivery in 2012, four handysize newbuildings to be delivered in 2011 and 2012 and two 3,400 TEU containerships with delivery expected in July and August, 2010, respectively.
For further information please visit the Company's website at www.paragonship.com.


About Star Bulk Carriers (NASDAQ: SBLK)      

Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol "SBLK". Currently, Star Bulk has an operating fleet of eleven dry bulk carriers with definitive agreements to buy one and sell one Capesize vessel as well as to build two Capesize vessels. The total fleet consists of six Capesize, and eight Supramax dry bulk vessels with a combined cargo carrying capacity of 1,462,377 deadweight tons. The average age of our current operating fleet is 10.4 years.
For further information please visit the Company's website at www.starbulk.com.


About TBS International (NASDAQ: TBSI)      

TBS is a fully-integrated transportation service company that provides worldwide shipping solutions to a diverse client base of industrial shippers. Through the TBS Five Star Service consisting of ocean transportation, operations, logistics, port services, and strategic planning, TBS offers total project coordination and door-to-door supply chain management. The TBS shipping network operates liner, parcel and dry bulk services, supported by a fleet of multipurpose tweendeckers and handysize and handymax bulk carriers, including specialized heavy-lift vessels and newbuild tonnage. TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa, the Caribbean and the Middle East.
Visit our website at www.tbsship.com.


About Capital Link      

Capital Link is a New York-based Investor Relations and Financial Communications firm. Capitalizing on our in-depth knowledge of the shipping industry and capital markets, Capital Link has made a strategic commitment to the industry becoming the largest provider of Investor Relations and Financial Communications services to international shipping companies listed on the US and European Exchanges. Capital Link's headquarters are in New York with a presence in London and Athens.

In our effort to enhance the information flow to the investment community and contribute to improving investor knowledge of shipping, Capital Link has undertaken a series of initiatives beyond the traditional scope of our investor relations activity, such as:
  • www.CapitalLinkShipping.com: A web based resource which provides information on the major shipping and stock market indices, as well as on all shipping stocks. It also features industry reports from major industry participants and interviews with CEOs, analysts and other market participants. The information on the website is not an offer to buy or sell any kind of securities nor does it constitute investment advice of any kind. Capital Link does not represent or warrant the accuracy of the information in this site. The user of the site acknowledges that he/she accesses the information at his/her own risk and cannot hold Capital Link liable for any matter in any way and will use the website in accordance with the Terms and Conditions specified on the website.
  • Weekly Capital Link Shipping eNewsletter: Weekly distribution to an extensive audience in US & European shipping investor community.
  • Sector Forums & Webinars: Periodically, we organize panel discussions among CEOs and analysts on various shipping sectors (containers, dry bulk, tankers) and on other topics of interest.
  • Capital Link Investor Shipping Forums: in New York, Athens and London, which bring together investors, financial advisors, listed companies CEOs, analysts, and shipping industry participants.
  • www.MaritimeIndices.com: Capital Link Maritime Indices: Capital Link developed and maintains a series of stock market maritime indices which track the performance of U.S. listed shipping stocks (CL maritime Index, CL Dry Bulk Index, CL Tanker Index, CL Container Index, CL LNG/LPG Index, CL Mixed Fleet Index, CL Shipping MLP Index - Bloomberg page: CPLI).
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