|
|
 Developments, Trends & Sector Outlook Presented by
THURSDAY, JUNE 16, 2011 11:00 AM EDT
(4:00 PM LONDON) (11:00 PM HONG KONG) DURATION: 45 MINUTES FOLLOWED BY Q&A SESSION LISTEN TO OUR EXPERT PANELISTS LIVE FROM YOUR OWN DESK 
Introductory Remarks by: Mr. Nicolas Bornozis, President - Capital Link, Inc. Moderated by: Mr. Ken Hoexter, Managing Director, Airfreight, Surface, & Marine Transportation Research Analyst & Co-Head Industrials Research - BofA Merrill Lynch Global Equity Research Featured Panelists Mr. Ioannis Lazaridis, Chief Executive Officer & Chief Financial Officer - Capital Product Partners L.P. (NASDAQ: CPLP) Mr. Marco Fiori, Chief Executive Officer - d'Amico International Shipping S.A. (MILAN: DIS.MI) Mr. Bruce Chan, President Teekay Tanker Services - Teekay Corporation (NYSE: TK) Mr. George Saroglou, Chief Operating Officer - Tsakos Energy Navigation Ltd Co (NYSE: TNP) 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 four topics: demand, supply, freight rates and asset values, valuations, focusing on current trends and the sector's outlook. The discussion will include both the crude (dirty) oil and the product (clean) markets. Q&A Session - Submitting Questions Participants can submit questions prior to or during the event through the special feature on the event page, or they can email them to Capital Link at questions@CapitalLinkWebinars.com. 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 and those interested can request it when they register for the event or afterwards through the event page at websites indicated. Who Should Attend? Buy Side Analysts and Portfolio Managers - Chief Investment Officers - Chief Risk Officers - Commercial Bankers o 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
Managing Director, Airfreight, Surface, & Marine Transportation Research Analyst Co-Head Industrials Research BofA Merrill Lynch Global Equity Research Ken Hoexter has served as BofA Merrill Lynch’s senior Airfreight & Surface Transportation analyst since January 2002. He has been in equity research for 18 years, covering telecom stocks for eight years before switching to Transportation. In 2010, Ken was named in Institutional Investor Magazine’s annual All-Star research poll for his ninth time (6 consecutive years for Transportation), and becoming one of the rare analysts to be named in two completely different sectors in the II Magazine’s research poll. Ken had previously been ranked for three consecutive years in Telecom Services. In the 2010 Financial Times/Starmine poll, Ken ranked as the #1 stock picker in the Marine category, his 4th award in 5 years from FT/Starmine covering Airfreight & Logistics (#2 earnings estimator in 2009 and 2007 - Forbes/Starmine at the time), and Road & Rail (#2 stock picker 2008). In the Wall Street Journal’s “Best on the Street 2000 Analysts Survey,” Ken was honored as a “Home Run Hitter,” one of seven analysts on Wall Street who were selected as best on the Street in stock-picking. Before joining BofA Merrill Lynch, Ken worked at Goldman Sachs and Lehman Brothers, also in equity research. He graduated with a B.S. in both Finance and Marketing from Lehigh University with a minor in Government. Ken and his wife, Elizabeth, along with their two sons and daughter, live in Purchase, N.Y. Mr. Ioannis Lazaridis Chief Executive Officer & Chief Financial Officer Capital Product Partners L.P. (NASDAQ: CPLP) Mr. Lazaridis has served as the Chief Executive and Chief Financial Officer of our general partner since its formation in January 2007 and joined our board of directors on March 13, 2007. Mr. Lazaridis serves as President of NYSE-listed Crude Carriers Corp., an affiliate of Capital Maritime, since March 2010 and has served as Capital Maritime’s Chief Financial Officer and as a director since its incorporation in March 2005. From 2004 to March 2005, Mr. Lazaridis was employed by our predecessor companies. From 1996 to 2004, Mr. Lazaridis was employed by Credit Agricole Indosuez Cheuvreux in London, where he worked in the equity department. From 1993 to 1996, Mr. Lazaridis was employed by Kleinwort Benson in equity sales and from 1990 to 1993 was employed by Norwich Union Investment Management. Mr. Lazaridis holds a B.A. degree in economics from the University of Thessaloniki in Greece and an M.A. in Finance from the University of Reading in the UK. He is also an Associate for the Institute of Investment Management and Research in the UK.
Chief Executive Officer d’Amico Tankers Marco Fiori joined COGEMA S.A.M. in 1996 as managing director and since that time has held many other executive positions in d'Amico Group companies. Prior to joining the d'Amico Group, Mr. Fiori was employed in the New York branch of Banca Nazionale dell'Agricoltura. He was initially responsible for the loan portfolio and business development of Fortune 100 companies based on the U.S. West Coast and later, for overseeing and managing the entire U.S. business development market. From 1990 to 1994, he held the position of head of credit and in 1994 was promoted to the position of senior vice-president and deputy general manager of the New York branch with direct responsibilities for business development, treasury and trading. Mr. Fiori obtained a Bachelor of Science in Economics and Finance from Rome University La Sapienza in 1979 and an MBA from American University in Washington D.C. in 1984.
President, Teekay Tanker Services Teekay Tankers Ltd. Bruce Chan joined Teekay in 1995. Since then, Mr. Chan has held a number of finance and accounting positions with the Company, including Vice President, Strategic Development from 2004 until his promotion to the position of Senior Vice President, Corporate Resources in 2005. In 2008, Mr. Chan was appointed President of the Company's Teekay Tanker Services division, which is responsible for the commercial management of Teekay's conventional crude oil and product tanker transportation services. Effective April 1, 2011, Mr. Chan also assumed the position of Chief Executive Officer of Teekay Tankers. Prior to joining Teekay, Mr. Chan worked as a Chartered Accountant in the Vancouver, Canada office of Ernst & Young LLP. Mr. George V. Saroglou Chief Operating Officer Tsakos Energy Navigation, Ltd. Mr. Saroglou has been Chief Operating Officer of the Tsakos Energy Navigation Limited since 1996. Mr. Saroglou is a shareholder of Pansystems S.A., a leading Greek information technology systems integrator, where he also worked from 1987 until 1994. From 1995 to 1996 he was employed in the Trading Department of the Tsakos Group. He graduated from McGill University in Canada in 1987 with a Bachelors Degree in Science (Mathematics).
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. ABOUT TANKER SHIPPING A principal function of the tanker sector is to transport crude oil from oil production and export facilities to oil terminals, storage facilities, pipeline systems and oil refineries internationally. In addition, tankers are also involved in the carriage of refined petroleum products, such as gasoline, diesel, jet fuel and naphtha, from refineries to storage and distribution systems, industrial plants and other consumers. Tankers generally are a more cost-effective alternative to pipelines and their advantages increase over distance. Pipelines are also considered to be more vulnerable to political instability, sabotage, economic blockade and the risk of environmental disaster. There are two principal types of providers of international seaborne transportation services for crude oil and refined petroleum products: independent shipowners and end users, such as oil, energy, petrochemical and trading companies (both private and state-owned). Tonnage controlled by end users is primarily chartered from independent shipowners under short-term spot market contracts and long-term time charters, with the balance being directly owned. The prices for transporting crude oil and refined petroleum products, which are referred to as tanker charter rates, are set in highly competitive markets in which both independent and end-user tonnage participate. In recent years, the tanker sector has undergone a process of consolidation that has resulted in greater co-operation between owners and charterers as both seek greater economic efficiencies and continued improvements in quality, safety and environmental protection standards. As a result, oil companies acting as charterers, terminal operators, shippers and receivers are becoming increasingly selective and rigorous in their inspection and vetting of vessels and their acceptance of vessels and operators. Safety and environmental protection has been a major focus of the tanker industry over the past years. Regulations such as OPA 90 and IMO have caused tanker owners to take extra care in the maintenance of their vessels. According to IMO regulation, only double hull tankers trade as of 2010 with single hull tankers phasing out. Vessels in the tanker fleet can be divided into categories based on their size in deadweight tons, or dwt, which is a vessel's capacity for cargo, fuel, oil, stores and crew measured in metric tons (1,000 kilograms). The following are the main categories of tankers based on dwt: (1) Very Large Crude Carriers (VLCCs) -- tankers with capacity of 200,000 dwt and over; (2) Suezmax tankers - tankers with capacity ranging from 120,000 to 200,000 dwt; (3) Aframax tankers - tankers with capacity ranging from 80,000 to 120,000 dwt; (4) Panamax tankers - tankers with capacity ranging from 60,000 to 80,000 dwt; (5) Medium Range tankers (MR) - tankers with capacity ranging from 25,000 to 60,000 dwt, and (6) Small tankers - tankers with capacity up to 26,999 dwt. A 300,000 dwt tanker can carry 2 million barrels of crude oil, while a Suezmax can carry about 1million barrels and an Aframax between up to about 800,000 barrels. Tankers that transport refined petroleum products are referred to as products tankers. Products tankers generally range in size from 10,000 to 80,000 dwt, although there are some larger products tankers designed for niche long-haul trades, such as from the Middle East to Japan, Korea and South East Asia. Products tankers generally have cargo-handling systems that are designed to transport several different grades of refined petroleum products simultaneously. These systems include coated cargo tanks that facilitate cleaning between voyages involving different cargoes. Ice Class tankers are vessels that have been constructed (in compliance with Finnish-Swedish Ice Class Rules) with strengthened hulls, a sufficient level of propulsive power for transit through ice-covered routes and specialized machinery and equipment for cold climates. About Capital Product Partners L.P. (NASDAQ: CPLP)  Capital Product Partners L.P., a Marshall Islands master limited partnership, is an international owner of modern double-hull tankers. The Partnership owns 21 vessels, including 18 modern MR tankers, two small product tankers and one Suezmax crude oil tanker. Most of its vessels are under medium- to long-term charters to BP Shipping Limited, Overseas Shipholding Group, Petrobras, Arrendadora Ocean Mexicana, S.A. de C.V. and Capital Maritime & Trading Corp.For more information about the Partnership, please visit our website: www.capitalpplp.com. About d'Amico Tankers  d'Amico International Shipping S.A. is a subsidiary of d'Amico Società di Navigazione S.p.A., one of the world's leading privately owned marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d'Amico International Shipping S.A. controls, either through ownership or charter arrangements, a modern, high-tech and double-hulled fleet, ranging from 35,000 and 51,000 deadweight tons. The Company has a history and a long tradition of family enterprise and a worldwide presence with offices in key market maritime centres (London, Dublin, Monaco and Singapore). The company's shares are listed on the Milan Stock Exchange under the ticker symbol "DIS". For further information please visit the company's website at www.damicointernationalshipping.com. About Teekay Corporation (NYSE: TK)  Teekay Corporation transports approximately 10 percent of the world's seaborne oil, has built a significant presence in the liquefied natural gas shipping sector through its publicly-listed subsidiary, Teekay LNG Partners L.P. (NYSE:TGP), is further growing its operations in the offshore oil production, storage and transportation sector through its publicly-listed subsidiary, Teekay Offshore Partners L.P. (NYSE:TOO), and continues to expand its conventional tanker business through its publicly-listed subsidiary, Teekay Tankers Ltd. (NYSE:TNK). With a fleet of approximately 150 vessels, offices in 16 countries and approximately 6,400 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world's leading oil and gas companies, helping them seamlessly link their upstream energy production to their downstream processing operations. Teekay's reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company. Teekay's common stock is listed on the New York Stock Exchange where it trades under the symbol "TK". For further information please visit the company's website at www.teekay.com. About Tsakos Energy Navigation Ltd Co (NYSE: TNP)  Tsakos Energy Navigation is one of the largest transporters of energy in the world and controls a versatile fleet of modern crude and product tankers with strong ice-class capabilities. To date, TEN's pro forma fleet consists of 51 double-hull vessels of 5.5 million dwt that includes three suezmax tankers currently under construction totaling 472,000 dwt. TEN's balanced fleet profile is reflected in 24 crude tankers ranging from VLCCs to aframaxes and 26 product carriers ranging from aframaxes to handysize and one LNG carrier. The company has remained profitable every year since its inception in 1993 and has been paying regular cash dividends since its listing on the New York Stock Exchange in March 2002. TEN's shares trade on NYSE under the ticker "TNP." For further information please visit the company's website at www.tenn.gr. 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:
The Capital Link Shipping Webinar Series provides numerous live and on-demand playback investor webinars throughout 2011 focused on topics of contemporary interest in the global shipping industry. As a sponsor of one of these webinars, your company will provide updates and enlightenment on issues of importance while aligning your organization with the interests of our audience. Sponsors of these webinars receive recognition and exposure for their brand, as well as the ability to offer a white paper or powerpoint presentation at registration to webcast attendees to generate leads.
For more information on webinar sponsorship opportunities, please contact Vincent Tricoli at vtricoli@capitallink.com or call +1 212 661-7566. 230 Park Avenue • Suite 1536 • New York • New York 10169, USA • Tel.: +1 212 661 7566 • Fax: +1 212 661 7526 Longcroft House,2-8 Victoria Avenue, London, EC2M 4NS, U.K • Tel. +44(0) 203 206 1320 • Fax. +44(0) 203 206 1321 40, Agiou Konstantinou Str, Suite A 5, 151-24 Athens, Greece • Tel. +30 210 6109 800 • Fax +30 210 6109 801 www.capitallink.com • www.capitallinkshipping.com • www.capitallinkportals.com www.capitallinkforum.com • www.capitallinkwebinars.com • Upcoming Events |
© Copyright 1996-2024. Capital Link, Inc. All rights reserved.
Disclaimer & Terms Of Use. The information herein 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. Please read full disclaimer and terms of use. |