Forward Looking Statements May 7, 2025 DISCLAIMER This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil pric ...

Company Overview - Pyxis Tankers Inc. is an international shipping company that currently owns a modern fleet of six mid-sized eco-vessels, including three MR product tankers, one Kamsarmax bulk carrier, and controlling interests in two dry-bulk joint ventures [2] - The company is engaged in the seaborne transportation of a broad range of refined petroleum products and dry-bulk commodities [2] - Pyxis Tankers is positioned to opportunistically expand its fleet of eco-efficient vessels due to significant capital resources, competitive cost structure, strong customer relationships, and an experienced management team [2] Recent Developments - The company announced a commitment letter with an existing bank for a "hunting license" loan facility of up to $45 million to finance the potential acquisition of up to two modern vessels [1] - The loan facility can cover up to 62.5% of the vessel purchase value and can be drawn down anytime for a period of up to 18 months after closing, expected in June 2025 [1] - The average interest rate for borrowings under the facility is SOFR + 1.9%, with repayments scheduled quarterly over five years from drawdown [1]

Company Overview - Navios Maritime Partners has a diversified fleet of 174 vessels across 3 segments and 16 asset classes[9, 15] - The company's modern fleet has an average age of 99 years and a vessel value of $61 billion[9, 15] - Navios Maritime Partners has secured $34 billion in contracted revenue[9] Financial Highlights - The company reported adjusted EBITDA of $1535 million and net income of $417 million for the first quarter of 2025[19] - Navios Maritime Partners has a cash balance of $343 million as of March 31, 2025[19] - The company's contracted revenue exceeds total cash expenses by $125 million for the 9 months of 2025E[26] Fleet and Operations - The company's fleet includes 69 dry bulk vessels with 89 million dwt, 49 containerships with 260823 TEU, and 56 tankers with 66 million dwt[13, 15] - Navios Maritime Partners has 41901 available days for 9M 2025E, with 66% fixed[15, 29] - The company has a newbuilding program with $14 billion investment in containerships and tankers[35] Market and Strategy - The company is addressing risks and uncertainties in the current environment by securing liquidity, ensuring revenue stability, and mitigating interest rate risk[26] - Navios Maritime Partners is executing its strategy by deleveraging, renewing and modernizing its fleet, and building net asset value[28] - The company is implementing a dividend program and a common unit repurchase program[20]

Core Points - Costamare Inc. has successfully completed the spin-off of its dry bulk business into a new public company named Costamare Bulkers Holdings Limited [1][2] - Shareholders of Costamare Inc. received one share of Costamare Bulkers for every five shares of Costamare Inc. held as of April 29, 2025 [1] - Following the spin-off, Costamare Inc. will focus primarily on global container shipping while retaining its involvement in Neptune Maritime Leasing [2] Company Overview - Costamare Inc. is a leading owner and provider of containerships for charter, with a history spanning 51 years in the international shipping industry [2] - The company operates a fleet of 68 owned containerships, totaling approximately 513,000 TEU in capacity [2] - Costamare Inc.'s common stock and preferred stocks trade on the NYSE under the symbols "CMRE", "CMRE PR B", "CMRE PR C", and "CMRE PR D" respectively [2] Trading Information - Costamare Bulkers will commence trading on the NYSE under the ticker symbol "CMDB" starting today at 9:30 a.m. New York City time [2] - Costamare Inc. will continue to trade on the NYSE under the ticker symbol "CMRE" [2]

Group 1 - Costamare Bulkers Holdings Limited has completed its separation from Costamare Inc. and began trading on the NYSE under the symbol "CMDB" on May 7, 2025 [1][6] - Each holder of Costamare Inc. common shares received one common share of Costamare Bulkers for every five shares held as of April 29, 2025 [1] - Costamare Bulkers is an international owner and operator of dry bulk vessels, providing transportation of dry bulk commodities globally [2][3] Group 2 - The fleet of Costamare Bulkers consists of 37 vessels with a total carrying capacity of approximately 2,940,000 deadweight tons (dwt) [3] - The company also owns a dry bulk operating platform (CBI) that charters in/out dry bulk vessels and engages in contracts of affreightment and forward freight agreements [3] - A new global website for Costamare Bulkers has been launched, accessible at www.costamarebulkers.com [2]

Financial Performance - Navios Maritime Partners reported revenue of $304.1 million for Q1 2025, a decrease of 4.6% from $318.6 million in Q1 2024 [16][14] - EBITDA for Q1 2025 was $147.6 million, down from $166.2 million in Q1 2024 [15][17] - Net income for Q1 2025 was $41.7 million, compared to $73.4 million in Q1 2024 [14][18] - Earnings per common unit were $1.38 for Q1 2025, down from $2.38 in Q1 2024 [37] Operational Highlights - The fleet consisted of 69 dry bulk vessels, 49 containerships, and 56 tankers, with a total of 154 vessels operating at the end of the period [11][22] - The average Time Charter Equivalent (TCE) rate decreased by 1.1% to $21,271 per day [16][22] - Available days for the fleet slightly decreased by 0.6% to 13,456 days [16][22] Cash Management - The company declared a cash distribution of $0.05 per unit for Q1 2025, with an annualized rate of $0.20 [4] - As of May 1, 2025, Navios Partners repurchased 423,984 common units for approximately $16.1 million [3] Fleet Transactions - Navios Partners sold three vessels for gross proceeds of $34.7 million, with an average age of 19.1 years [5][6] - Four newbuilding vessels were delivered in 2025, including two aframax/LR2 tankers and two LNG dual fuel containerships [8] Financing Activities - The company extended the maturity of a sale and leaseback transaction for $45.4 million, maturing in Q1 2029 [9] - Interest rate swaps were entered into for a notional amount of $87.9 million to hedge interest rates on existing credit facilities [10] Future Outlook - Navios Partners has contracted revenue of $3.4 billion as of April 2025, with expected revenues of $714.1 million and $719.1 million for the last nine months of 2025 and for all of 2026, respectively [12]

Group 1 - The article emphasizes a preference for investment opportunities that present clear value propositions, particularly those with low price-to-book (P/B) and price-to-earnings (P/E) ratios rather than those reliant on future growth expectations [1] - The author expresses a long position in NAT shares, indicating a belief in the company's potential value [1] Group 2 - The article does not provide specific investment advice and encourages readers to conduct their own due diligence before making any investment decisions [2] - It highlights that past performance is not indicative of future results, and opinions expressed may not reflect the views of the platform as a whole [3]

Company Overview - Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG) [2] - The fleet consists of thirteen LNG carriers, all equipped with state-of-the-art two-stroke propulsion systems (MEGI and X-DF) [2] - These modern ships provide significant improvements in fuel efficiency and reduce carbon footprint compared to older steam and four-stroke propelled ships [2] Financial Results Announcement - Flex LNG will release its unaudited financial results for the first quarter of 2025 on May 21, 2025, at approximately 07:00 CEST (1:00 a.m. EST) [1] - A live video webcast will be held on the same day at 15:00 CEST (9:00 a.m. EST) [1] - The presentation material will be available on the company's website, and a replay of the webcast will also be accessible [2]

李冈峰 欧洲天然资源基金 Commodity Discovery 特约分析师 LSEG Workspace用户可以搜寻CFTC寻找最新数据： | | | COMEX黄金 | COMEX白银 | | | Nymex铂金 | Nymex把金 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | (截至4月29日) | 물 | 跟上周比较 | 발 | 跟上周比较 | 官 | 跟上周比较 | 를 | 跟上周比较 | | 管理资金的净多头量 | 360 | -7. 8% | 4, 860 | +19. 4% | -3 | +76. 2% | -42 | -1.4% | | 多头量 | 483 | -5. 6% | 6.657 | +15. 9% | 45 | +11. 2% | 8 | +4. 4% | | 空头量 | 123 | +1. 8% | 1.796 | +7.5% | 48 | -11.5% | 50 | +1.8% | 这是一个主要从美国每周的CFTC数据公布基金(Managed Positions)在当地期货市场的各种部署，继而反映 ...

Group 1: Earnings Performance - DHT Holdings reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.15 per share, but down from $0.29 per share a year ago, representing an earnings surprise of 80% [1] - The company posted revenues of $79.75 million for the quarter, surpassing the Zacks Consensus Estimate by 2.29%, but down from $106.34 million year-over-year [2] - Over the last four quarters, DHT Holdings has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - DHT Holdings shares have increased approximately 21% since the beginning of the year, contrasting with the S&P 500's decline of -3.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $72.63 million, and for the current fiscal year, it is $0.84 on revenues of $359.27 million [7] Group 3: Industry Context - The Transportation - Shipping industry, to which DHT Holdings belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact DHT Holdings' stock performance [5][6]