Star Bulk(SBLK)
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Star Bulk(SBLK) - 2022 Q4 - Annual Report
2023-03-06 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31,2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...
Star Bulk(SBLK) - 2022 Q4 - Earnings Call Transcript
2023-02-17 19:38
Financial Data and Key Metrics Changes - Net income for Q4 2022 was $86 million, with adjusted net income of $93 million or $0.84 per share [4] - Adjusted EBITDA for the quarter was $135 million, with a cumulative adjusted EBITDA of $809 million over the last 12 months [4][5] - The company declared a dividend of $0.60 per share, payable on or about March 14, 2023 [4] Business Line Data and Key Metrics Changes - The time charter equivalent (TCE) rate was $19,590 per vessel per day, with combined daily operating expenses (OpEx) and general and administrative (G&A) expenses at $5,182 per vessel per day [5] - TCE less OpEx and G&A was approximately $14,400 per day [5] Market Data and Key Metrics Changes - The average power fuel spread was around $230 per ton, with an average lifetime spread of $253 per ton for Q4 2022 [9] - The dry bulk trade contracted by 1.9% in ton miles during 2022, with a projected increase of 2% in 2023 [17][18] Company Strategy and Development Direction - The company aims to continue investing in fleet upgrades and energy-saving devices to improve fuel consumption and reduce environmental impact [10][11] - Star Bulk is well-positioned to take advantage of recovery in freight rates due to its scrubber-fitted and diverse fleet [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about remaining profitable in Q1 2023, with a break-even point around $12,000 and current rates above $15,000 [36] - The company anticipates that the relaxation of China's COVID policies will positively impact the dry bulk market [18] Other Important Information - The company has a total debt of $1.32 billion and has completed refinancings totaling $430 million, reducing interest costs by approximately $5.2 million per year [7] - Star Bulk's ESG efforts include participation in the Carbon Disposal Project and measuring Scope 3 emissions for the first time [12][13] Q&A Session Summary Question: Cash flow movement and upcoming dividend - Management indicated that debt amortization for 2023 is approximately $190 million, slightly down from 2022 due to better schedules [24] Question: Cost control on OpEx - OpEx excluding non-recurring expenses was reported at $4,205 per day, down from $4,700, achieved through streamlining operations [27][28] Question: Future acquisition opportunities - Management is optimistic about potential acquisition opportunities and is currently evaluating options [31] Question: Earnings power in a down market - Management believes they will remain profitable in Q1 and Q2, leveraging slow steaming and scrubber benefits [36][37] Question: Dividend policy if cash falls below threshold - The company stated that if cash declines below the minimum threshold, a dividend may not be paid, but they do not anticipate this happening [41]
Star Bulk(SBLK) - 2023 Q1 - Quarterly Report
2023-02-16 16:00
Exhibit 99.1 STAR BULK CARRIERS CORP. REPORTS NET PROFIT OF $85.8 MILLION FOR THE FOURTH QUARTER OF 2022 AND DECLARES QUARTERLY DIVIDEND OF $0.60 PER SHARE ATHENS, GREECE, February 16, 2023 – Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the fourth quarter of 2022. Unless otherwise indicated or unless the context requires otherwise, all ref ...
Star Bulk Carriers Corp. (SBLK) Capital Link Company Presentation Series
2023-01-10 19:26
Star Bulk Carriers Corp. (NASDAQ:SBLK) Capital Link Company Presentation Series January 10, 2023 10:00 AM ET CorporateParticipants Hamish Norton - President Nicos Rescos - Chief Operating Officer Charis Plakantonaki - Chief Strategy Officer Christos Begleris - Co-Chief Financial Officer Constantinos Simantiras - Head, Market Research ConferenceCall Participants Nicolas Bornozis - Capital Link Nicolas Bornozis I am Nicolas Bornozis of Capital Link and I would like to welcome you all to Capital Links Corporat ...
Star Bulk(SBLK) - 2022 Q3 - Earnings Call Transcript
2022-11-17 18:48
Star Bulk Carriers Corp. (NASDAQ:SBLK) Q3 2022 Earnings Conference Call November 17, 2022 11:00 AM ET Company participants Simos Spyrou - Co-Chief Financial Officer Hamish Norton - President Nicos Rescos - Chief Operating Officer Charis Plakantonaki - Chief Strategy Officer Petros Pappas - Chief Executive Officer Christos Begleris - Co-Chief Financial Officer Conference Call Participants Amit Mehrotra - Deutsche Bank Omar Nokta - Jefferies Frank Galanti - Stifel Operator Thank you for standing by, ladies ...
Star Bulk(SBLK) - 2022 Q2 - Earnings Call Transcript
2022-08-05 19:36
Star Bulk Carriers Corp. (NASDAQ:SBLK) Q2 2022 Earnings Conference Call August 5, 2022 11:00 AM ET Company Participants Petros Pappas - Chief Executive Officer Hamish Norton - President Nicos Rescos - Chief Operating Officer Simos Spyrou - Co-Chief Financial Officers Christos Begleris - Co-Chief Financial Officers Charis Plakantonaki - Chief Strategy Officer Conference Call Participants Chris Robertson - Deutsche Bank Omar Nokta - Jefferies Climent Molins - Investor’s Edge Operator Thank you for standing by ...
Star Bulk(SBLK) - 2022 Q1 - Earnings Call Transcript
2022-05-25 17:16
Star Bulk Carriers Corp. (NASDAQ:SBLK) Q1 2022 Earnings Conference Call May 25, 2022 11:00 AM ET Company Participants Petros Pappas - Chief Executive Officer Hamish Norton - President Nicos Rescos - Chief Operating Officer Simos Spyrou - Co-Chief Financial Officer Christos Begleris - Co-Chief Financial Officer Charis Plakantonaki - Chief Strategy Officer Conference Call Participants Christopher Robertson - Jefferies Drew Millegan - Woodworth Contrarian Fund, LP Operator Thank you for standing by, ladies ...