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Shipping Analyst Roundtable
PRESENTED BY
WEDNESDAY, JUNE 12, 2013, 11:00 AM ET
(4:00 PM LONDON) (5:00 PM PARIS) (6:00 PM ATHENS) (11:00 PM HONG KONG)
DURATION: 45 MINUTES FOLLOWED BY Q&A SESSION
LISTEN TO OUR EXPERT PANELISTS LIVE FROM YOUR OWN DESK
PANEL OVERVIEW
The analyst roundtable will discuss recent identifiable trends, along with the intermediate and long-term outlook for the main shipping markets: dry bulk, tankers, containers and LNG carriers. The panel will examine the current market conditions, the demand outlook across major commodities and regions, the developments on the fleet supply side including scrapping and new trade patterns.
It will also discuss developments in the financial and capital markets, and how these affect companies' abilities to navigate through current market conditions and take advantage of expansion opportunities.
INTRODUCTORY REMARKS BY
Mr. Nicolas Bornozis, President, Capital Link
MODERATED BY
Mr. Clay Maitland, Managing Partner, International Registries, Inc.
FEATURED PANELISTS
- Mr. Douglas Mavrinac, Managing Director, Group Head of the Maritime Equity Research Group - Jefferies & Company, Inc.
- Mr. Fotis Giannakoulis, Vice President, Shipping - Morgan Stanley
- Mr. Ken Hoexter, Managing Director, Airfreight, Surface, & Marine Transportation Research - Bank of America Merrill Lynch
- Mr. Ben Nolan, Director, Maritime Research - Stifel Nicolaus
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 45 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@capitallink.com.
The Shipping Analyst Roundtable Webinar is organized by Capital Link, a New York-based Investor Relations and Financial Communications firm.
A FREE AND INVALUABE 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
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Clay Maitland
Managing Partner
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.
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Douglas Mavrinac
Managing Director
Group Head of the Maritime Equity Research Group
Jefferies & Company, Inc. |
Douglas Mavrinac is a Managing Director and Group Head of the Maritime Equity Research Group at Jefferies. Mr. Mavrinac currently focuses on shipping companies that transport crude oil and refined petroleum products, dry bulk commodities, and containers. He has been recognized twice in the Wall Street Journal's Best on the Street survey for the industrial transportation sector and was named the Top Stock Picker in the marine sector by the Financial Times in 2008. Prior to joining Jefferies in 2003, Mr. Mavrinac worked 9 years in the energy industry working 8 years as a Financial Analyst with the Royal Dutch/Shell Group of Companies. Mr. Mavrinac received an MBA from Tulane University.
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Fotis Giannakoulis
Vice President, Shipping
Morgan Stanley |
Fotis Giannakoulis, Vice President, joined Morgan Stanley in 2010. He covers the global shipping industry. Prior to joining Morgan Stanley, Fotis was a banker at Fortis Bank (currently ABN AMRO) and Poten Capital Services putting together a number of debt and equity financings and working on several advisory mandates. In 2009, he advised Eton Park exploring opportunities in the shipping sector and originated a joint venture with Euroseas and another private equity firm. Other indicative transactions include the private equity investment of Fortis in Diana (DSX) and the subsequent IPO, the spin-off of $1bn worth of assets for CMA CGM and the formation of Global Ship Lease (GSL), the acquisition of Metrobulk from Quintana and a number of offerings, debt and mezzanine transactions. Fotis holds a Bachelors degree in Economics from University of Piraeus and he earned his MBA with honors from Loyola University Chicago, where he was the Walter F. Mullady scholar.
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Ken Hoexter
Managing Director
Senior Airfreight, Surface, & Marine Transportation Analyst | Co-head Industrials Research | Vice Chairman US1 Committee
BofA Merrill Lynch |
Ken has served as BofA Merrill Lynch's senior Airfreight & Surface Transportation analyst since January 2002. He has been in equity research for 21 years, covering telecom stocks for nine years before switching to Transportation. Ken has been ranked by Institutional Investor Magazine as an All-Star Analyst for 10 years, becoming one of the few analysts to be named in two completely different sectors in its research poll. He has been ranked 7x in Transportation, prior to which he had been ranked for 3 consecutive years in Telecom Services/CLECs. Ken has been ranked among the Top 3 analysts in the Transportation sector by Greenwich in 5 of the past 7 years. In 2012, Ken was ranked the #1 stock picker by Financial Times/Starmine in Marine Transportation and #3 stock picker in the Oil, Gas, and Consumable Fuels segment. Other Awards: In the 2011 Financial Times/Starmine poll, Ken was ranked the #1 Stock Picker in Marine Transportation. In 2010, Forbes/Zacks ranked Ken as #3 stock picker in Transport-Land & Sea. In 2009, Forbes/Zacks ranked Ken as one of the Dazzling Dozen, as the 9th ranked analyst in picking stocks and earnings estimates over the past 3 years relative to all sectors (2,700 analysts surveyed). In the 2009 Financial Times/Starmine poll, Ken ranked as the #2 earnings estimator in the Airfreight & Logistics category. In the 2008 Financial Times/Starmine poll, Ken ranked as the #2 stock picker in the Road & Rail category. In the 2007 Forbes/Starmine poll, Ken ranked as the #2 earnings estimator for the Airfreight & Logistics sector. In the Wall Street Journal's "Best on the Street 2000 Analyst 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 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 Scarsdale, N.Y. He serves on the Board of Directors of the National Multiple Sclerosis Society, Metro NJ Chapter and the Lehigh University Wall Street Council.
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Ben Nolan
Director, Maritime Research
Stifel Nicolaus |
Mr. Ben Nolan joined Stifel in May 2013 as Director covering the shipping and offshore sectors. Most recently Mr. Nolan was part of Knight Capital covering both equity and debt of companies in the maritime sector. Prior to Knight, he spent six years at Jefferies as an equity research analyst covering the shipping sector. In addition to equity research, Mr. Nolan spent several years as a corporate financial analyst for EOG Resources in the oil and gas business. Mr. Nolan graduated from Texas A&M University with a B.B.A. in Finance and received his M.B.A. from the University of Houston. Mr. Nolan is also a CFA charterholder.
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 JEFFERIES
Jefferies, the global investment banking firm, has served companies and investors for over 50 years. Headquartered in New York, with offices in over 30 cities around the world, the firm provides clients with capital markets and financial advisory services, institutional brokerage and securities research, as well as wealth and asset management. The firm provides research and execution services in equity, fixed income, foreign exchange, futures and commodities markets, and a full range of investment banking services including underwriting, merger and acquisition, restructuring and recapitalization and other advisory services, with all businesses now operating across the Americas, Europe and Asia.
Jefferies Group LLC is a wholly-owned subsidiary of Leucadia National Corporation (NYSE: LUK), a diversified holding company. Jefferies Group LLC's principal operating subsidiaries are Jefferies LLC in the U.S., Jefferies International Limited in Europe and Jefferies Hong Kong Limited in Asia. Jefferies International Limited is authorized and regulated in the United Kingdom by the Financial Services Authority.
ABOUT MORGAN STANLEY
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
ABOUT BANK OF AMERICA MERRILL LYNCH
Bank of America Merrill Lynch is one of the world's premiere financial institutions, serving large corporations, small- and middlemarket businesses and individual consumers in more than 150 countries with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Merrill Lynch is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.
The company provides, through various banking and broker-dealer affiliates, M&A advice, equity and debt capital raising solutions, lending, risk management, treasury, liquidity, and payments management. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. For additional information regarding Bank of America Merrill Lynch, please see www.bankofamerica.com/disclaimer.
ORGANIZER - CAPITAL LINK, INC.
Capital Link is a New York-based advisory, 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 U.S. and European Exchanges. Capital Link's headquarters are in New York with a presence in London and Athens. Capital Link is a member of the Baltic Exchange. In addition to the two recognitions from the Intercontinental Finance Magazine, Capital Link won in 2011 a Lloyds List Greek Shipping Award for its contribution to the shipping industry.
In our effort to enhance the information flow to the investment community and improve awareness about shipping and the maritime sector to a wider audience, Capital Link has undertaken a series of initiatives beyond the traditional scope of our investor relations activity, such as:
www.CapitalLinkShipping.com: A free, web-based resource that provides information on the major shipping and stock market indices, as well as on all shipping stocks, it also features an earnings and conference call calendar every quarter, industry reports from major industry participants, and interviews with CEOs, analysts, and other market participants.
Weekly Capital Link Shipping Markets Report: A free weekly report with information on the news and activity of all U.S., UK, and Milan listed shipping companies, it offers a review of the dry bulk, tanker, container, sales, and purchase shipping markets, a review of the equity and bond markets for shipping, interviews, company profiles, and more. This report is distributed to an extensive audience in the U.S. and European shipping investor community.
Sector Forums & Webinars: Capital Link organizes panel discussions among CEOs and analysts on various shipping sectors (container, dry bulk, and tanker) and on other major topics of interest.
Capital Link Invest in Shipping Forums: Spanning across New York, Athens, and London, these forums bring together investors, financial advisors, listed companies' CEOs, analysts, and shipping industry participants.
www.MaritimeIndices.com: Through the Capital Link Maritime Indices, Capital Link has 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). These Indices are also accessible through Bloomberg, Reuters, and FactSet.
www.MaritimeCSR.com: Capital Link has developed a new initiative focusing on Sustainability - it aims to identify and showcase best corporate practices in innovation, environment, health, safety and corporate governance in the maritime and offshore sectors. This initiative includes a web based information resource, am Annual Conference taking place in London every October, webinars and informational newsletters and reports.
FOR FURTHER INFORMATION:
To become part of our database and to be invited to future events or for any other request please contact:
New York -U.S.A. - Nicolas Bornozis & Eleni Bej, +1 212 661 7566 - ebej@capitallink.com
Athens - Greece - Olga Bornozi & Maria Chercheletzi, +30 210 6109 800 - marketing@capitallink.com
London - U.K. - Ioanna Messini, + 44 (0) 20 3206 1322 - imessini@capitallink.com
Capital Link - New York - London - Athens
230 Park Avenue - Suite 1536 - NY - New York 10169, USA - Tel.: +1 212 661 7566 - Fax: +1 212 661 7526
Longcroft House,2-8 Victoria Ave, 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
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