Value Investor's Edge Live #19: Post-Earnings Discussion With Ardmore Shipping CEO Anthony Gurnee And CFO Paul Tivnan
J Mintzmyer speaks with Ardmore Shipping management about Q1 and the fast-moving product tanker section.
Topics Covered
1:00 minute mark - What’s the underlying trade in the product tanker markets?
2:30 - Thoughts on broker rates versus actual ‘market levels?’
5:30 - Difference in voyages in progress versus completed QTD?
6:30 - Thoughts on chemical side of the business, rates coming in lower?
8:45 - Shift in dividend policy, shift to deleveraging?
12:00 - Is Ardmore aligned? Can we trust you not to blow money on ships?
16:00 - At what point do you have to repurchase shares?
18:30 - Repurchases versus secondhand vessel acquisitions.
22:00 - Review of normalized ROA and ROE?
23:15 - Review of normal average MR product market?
27:00 - How do you communicate a ‘normalized value’?
30:15 - Visibility and thoughts on product floating storage volumes?
32:00 - Indications from customers/markets regarding terminal capacity?
34:30 - Parting thoughts for investors in Ardmore or product tankers?
Topics Covered
1:00 minute mark - What’s the underlying trade in the product tanker markets?
2:30 - Thoughts on broker rates versus actual ‘market levels?’
5:30 - Difference in voyages in progress versus completed QTD?
6:30 - Thoughts on chemical side of the business, rates coming in lower?
8:45 - Shift in dividend policy, shift to deleveraging?
12:00 - Is Ardmore aligned? Can we trust you not to blow money on ships?
16:00 - At what point do you have to repurchase shares?
18:30 - Repurchases versus secondhand vessel acquisitions.
22:00 - Review of normalized ROA and ROE?
23:15 - Review of normal average MR product market?
27:00 - How do you communicate a ‘normalized value’?
30:15 - Visibility and thoughts on product floating storage volumes?
32:00 - Indications from customers/markets regarding terminal capacity?
34:30 - Parting thoughts for investors in Ardmore or product tankers?
Activity