Challenges in the Shipping & Capital Markets Today

PRESENTED BY

                   


TUESDAY, NOVEMBER 8, 2011, 11:00 AM ET

(4:00 PM LONDON) (5:00 PM PARIS) (6:00 PM ATHENS) (11:00 PM HONG KONG)

DURATION: 30 MINUTES FOLLOWED BY Q&A SESSION

LISTEN TO OUR EXPERT PANELISTS LIVE FROM YOUR OWN DESK.




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OVERVIEW

Given the interconnectedness of the shipping and capital markets, this webinar aims to avoid focusing on just one area or sector. It seeks to provide a comprehensive review across many fields, specifically the shipping, financial, and capital markets. Below are some of the questions that participants will address:

Shipping markets:
  • Which sector has been the most debilitated? Which sector is most likely to recover?
  • With rates so low - such as in the tanker sector - how do we expect shipping companies to maintain profitability and commitment to safety and quality?
  • Is it the opportune time to invest in shipping assets?
  • What will happen to the orderbook? Will it be delivered, cancelled, or delayed?
  • Is shipping overly dependent on emerging markets? How will emerging markets fare in a period of global softening?

Financial markets:
  • Are banks willing to make new loans? Do public companies have a better standing in comparison to private ones?
  • Are we likely to see distressed loans and asset sales? Are we likely to see companies coming up with covenant issues?
  • What are the new lending parameters?

Capital markets:
  • Although IPOs are current out of the picture, we are simultaneously hearing that there is a huge pipeline of IPOs if and when market turns. Why? What does this actually mean?
  • Is there capital available for shipping companies today? If so, what type of capital? At what cost and for what use?
  • Is loan/bond restructuring a likely occurrence? What types of activities do we see in terms of legal, capital raising, and commercial issues?



INTRODUCTORY REMARKS BY: Mr. Nicolas Bornozis, President - Capital Link, Inc.


MODERATED BY: Mr. Clay Maitland, Managing Partner, International Registries, Inc.


FEATURED PANELISTS

Mr. Gust Biesbroeck, Global Head of ECT-Transportation, ABN AMRO
Mr. William Kelly, Managing Director, Head of Equity Capital Markets, Knight Capital Group
Mr. Michael Webber, Senior Equity Analyst, Wells Fargo Securities
Mr. Edward S. Horton, Partner, Seward & Kissel LLP


PANEL STRUCTURE

The webinar will consist of a roundtable discussion with one moderator and four panelists. Rather than focusing on just the shipping markets alone, participants will comprehensively address the current trends and outlooks in the shipping markets, financial markets, and capital markets today. Lasting for 30 minutes or so, the webinar will be followed by a 15-minute Q&A session.


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 webinar is organized by Capital Link, a New York-based Investor Relations and Financial Communications firm.

Registrants can download the PowerPoint Presentation from this webcast

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. Those interested can request it when they register for the event or afterwards through the event page as indicated.


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

Clay Maitland
Managing Director
International Registries, Inc.


Clay Maitland has worked in the shipping industry since graduation from law school in 1968. Clay has been employed by International Registries, Inc. for 35 years and is now a managing partner of the company, which administers the Marshall Islands Ship Registry - the third largest registry in the world. He is President of the Trust Company of the Marshall Islands (TCMI), the statutory Maritime Administrator of the Republic of the Marshall Islands. Prior to the year 2000, Clay held similar positions with regard to the maritime administration of the Republic of Liberia.

Among his other affiliations: Director of the Coast Guard Foundation; Member of the American Bureau of Shipping, and of the National Cargo Bureau; Founding Chairman of the North American Maritime Environment Protection Association (NAMEPA), Chairman of the North American Maritime Ministry Association (NAMMA) Industry Advisory Board; Member of the American Bar Association, New York City Bar Association and Maritime Law Association of the United States ; former Chairman of the National Maritime Historical Society; former Chair of the Admiralty Committee of the New York City Bar Association, and of the Committee on Intergovernmental Organizations of the Maritime Law Association of the United States (MLA). Clay has served as a delegate to the Legal Committee of the International Maritime Organization (IMO).

Clay received the Honorary Degree of Doctor of Letters from the State University of New York Maritime College in 2006, and was awarded the U.S. Coast Guard’s Distinguished Public Service Award in 2010.


Gust Biesbroeck
Global Head of ECT-Transportation
ABN AMRO


Gust has a global responsibility for ABN AMRO’ Shipping and Aviation activities. Before assuming this responsibility, he has been working for ABN AMRO, and his predecessors, for 7 years as risk and portfolio manager in the Shipping and Transportation Group.

Prior to joining ABN AMRO, Gust worked for over 10 years for Nedship Bank (now DVB) in various commercial roles in Rotterdam, Athens and Hong Kong. Gust is a graduate from Erasmus University's Economic Faculty and did an executive GMP program at Cedep in Fontainebleau, France


William Kelly
Managing Director, Head of Equity Capital Markets
Knight Capital Americas, LP


Mr. Kelly manages Knight’s Equity Capital Markets team, leading transaction origination, new product development and capital raising. Before joining Knight, he co-founded Gamma Capital and GB Financial Partners, a boutique transaction advisory firm. As the senior partner, Mr. Kelly originated and developed transactions in traditional private placements and placements of public securities. Prior to founding Gamma, he was a managing director and portfolio manager at Fulcrum Global Partners, later forming the firm's Capital Markets Group. Previously he was employed at Credit Suisse First Boston, JP Morgan and its predecessors in several capacities including portfolio management, sponsor coverage and equity sales. Prior to his career in Finance he was an Aviator and Company Commander in the US Army. Mr. Kelly received his Bachelor of Science/Bachelor of Arts from Boston University in Finance and Economics.


Michael Webber
Senior Equity Analyst
Wells Fargo Securites


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 senior member of Deutsche Bank Securities' transportation equity research team, with lead responsibility for the ocean shipping and equipment leasing sector.

Prior to Deutsche Bank, Mike was a senior associate on Wells Fargo's transportation research team from 2006 to 2009. Mike began his career in financial services as a product analyst with Legg Mason. Mike is a graduate of the University of Virginia and holds the CFA designation.


Edward S. Horton
Partner
Seward & Kissel LLP


Edward Horton is a partner in Seward & Kissel's Capital Markets Group.

Mr. Horton focuses his practice on corporate securities law and has represented domestic and foreign issuers and underwriters in connection with a variety of securities transactions, including initial and secondary registered offerings of equity and debt securities, Rule 144A and Regulation S offerings, private equity investments and other private placements. He also advises domestic and foreign public companies with respect to securities law compliance matters, stock exchange listings and corporate governance matters, and advises institutional shareholders in connection with contested proxy solicitations, activist investing and related matters. Mr. Horton also represents private investment funds and investment managers in connection with a variety of business transactions and securities law matters.


ABOUT INTERNATIONAL REGISTRIES, INC.

A PREMIER QUALITY REGISTRY

International Registries, Inc. (IRI) and its affiliates are the Maritime and Corporate Administrators of the Republic of the Marshall Islands (RMI) and have been administering maritime and corporate programs for over half a century. IRI prides itself on its high level of customer service, economical pricing and extensive experience. The Marshall Islands Maritime and Corporate Registry (Registry) is fully committed to the safety and security of personnel ashore and afloat, the Registry's vessels and the marine environment. IRI has an excellent reputation within the international business community and will continue to be at the forefront of vessel and corporate registries.

IRI is the world's oldest and most experienced privately administered maritime and corporate registry, providing for the specialized needs of the shipping and financial services industries across a broad commercial and economic spectrum. IRI, which is headquartered in Reston, Virginia USA, with easy access to Washington, DC, has full service offices in 20 major shipping and financial centers around the world.

LEADERSHIP

IRI, through a legislatively endorsed joint venture agreement with the Government of the Marshall Islands, is authorized to administer the maritime and corporate programs for the Marshall Islands. The IRI Board of Managers is the executive body that is responsible for the Registry's growth and strategic direction.

WHAT IRI DOES

The Marshall Islands ship registry program was initiated by the Government of the Marshall Islands in 1988. With the adoption of a new Maritime Act in 1990, the maritime laws of the Marshall Islands were aligned with the many changes in ship registration, financing and licensing that have taken place in the shipping industry. The Marshall Islands ship registry is the fourth largest open registry in the world. Vessel types include, but are not limited to, tankships, LNG/gas carriers, bulk carriers, offshore exploration and support vessels, container ships, passenger vessels and yachts. The Registry's network of worldwide offices has the ability to register a vessel, record a mortgage, form a corporation and service clientele.


ABOUT ABN AMRO

With a rich history dating back to 1720, ABN AMRO is a highly respected and stable banking partner for our clients. We are proud of our heritage and excited by our potential, with a constant aim to help our customers conduct their business more effectively. The new ABN AMRO offers a complete range of retail, private banking, commercial and merchant banking products and services.

Within the Large Corporates & Merchant Banking of ABN AMRO, Energy, Commodities & Transportation (ECT) is a worldwide top player in the Energy, Commodities and Transportation industries. ECT provides financial solutions to international companies that are active in the value chain of the ECT industries. Our extensive market knowledge has made us leaders in these industries

Energy has a longstanding position in providing financial services to international companies active in the Oil & Gas and Offshore services industries.

Commodities finances the international flows of various commodities from origination to destination and provides financial solutions to international companies involved in the global origination, primary processing, logistics, trading and distribution of commodities. Specialized along three sectors: Agri, Metals and Energy Commodities.

Transportation offers structured and innovative financing solutions to international companies active in the maritime industry with an asset based business model. The focus is on financing of deep sea shipping industry and the off-shore service industry.

Principal Finance provides financing beyond traditional debt advance rates (mezzanine debt) and co-invests as Principal with strategic clients in all ECT sectors. Typical financings in these asset classes are asset backed with predictable underlying cash flows, resulting in less volatile returns than "private equity" type of investments.


ABOUT KNIGHT CAPITAL GROUP

Knight Capital Group, Inc. (NYSE: KCG) is global financial services firm that provides Equity and Debt capital markets services to corporate issuers and market access and trade execution services across multiple asset classes to buy- and sell-side firms. Knight's hybrid market model features complementary electronic and voice trade execution services in global equities and fixed income as well as foreign exchange, futures and options.

The firm is consistently ranked as the leading source of off-exchange liquidity in U.S. equities.


ABOUT SEWARD & KISSEL LLP

Seward & Kissel, founded in 1890, is a leading U.S. law firm. Our practice primarily focuses on corporate and litigation work for clients seeking legal expertise in the capital markets, financial services and corporate finance areas. The Firm is particularly well known for its hedge fund and private equity fund practices

and for its representation of transportation companies, particularly in the shipping area, and of offshore drilling operators. Seward & Kissel is a worldwide leader in maritime finance. Our groundbreaking structured finance and capital markets transactions in the shipping, offshore and logistics areas have earned us an international reputation for excellence and innovation. We represent issuers and underwriters in U.S. and global public and private offerings of equity and debt securities. Our experience includes:
  • Preparation of Offering Documents
  • Advising on Reporting and Regulatory Requirements
  • Assisting with Stock Exchange Listings
  • Mergers and Acquisitions involving both public and private companies



ABOUT WELLS FARGO SECURITIES

Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs and the Internet (wellsfargo.com and wachovia.com) across North America and internationally. We're headquartered in San Francisco, but we're decentralized so every local Wells Fargo store is a headquarters for satisfying all our customers' financial needs and helping them to succeed financially. One in three households in America does business with Wells Fargo. Wells Fargo has $1.2 trillion in assets and more than 278,000 team members across our 80+ businesses.

We ranked fourth in assets and second in market value of our stock among our U.S. peers as of September 30, 2010.

Our vision: "We want to satisfy all our customers' financial needs and help them succeed financially."


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:
  • 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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