Value Investor's Edge Live #15: Virtual Investor Forum on COVID-19 and Oil Price War, With International Seaways Management
The last time J Mintzmyer and Value Investor's Edge hosted a virtual investor forum featuring industry analysts, management teams, and investors, all the way back in January 2020, it was like another world. IMO 2020 was still the buzzword, post New Year cyclicality was driving behavior, and coronavirus looked like it was a local issue in China.
A lot has changed in two months. As Mintzmyer and the VIE team gather a new round of participants for a COVID-19 and Oil Price War focused forum this week, one of the themes is how that situation has changed. And there's no better place to start than with International Seaways (INSW). CEO Lois Zabrocky and CFO Jeff Pribor took part in the first forum - it was our most recent VIE episode posted - so it offers an easy compare and contrast.
Topics Covered
2:00 minute mark: What is the immediate impact of COVID-19 to your markets?
3:15 - How much follow-on activity is coming out of China?
4:45 - Any non-traditional routes developing due to the oil price war?
6:00 - How does INSW benefit from this market?
8:00 - Is the Suezmax market benefitting from this strength?
10:45 - How is the Panamax market performing now?
12:00 - MR product tanker market update?
13:45 - Any indications of potential product market storage?
14:45 - Have you adjusted your operations, shoreside and at-sea for COVID?
17:30 - IMO 2020 transition and scrubber update?
21:15 - Current timeline of scrubber installations in China (60 days!)
22:30 - Can you delay or back-out of scrubber installations?
25:00 - What is your current and target balance sheet leverage?
28:00 - Restrictive covenants in the current debt facility for repurchases?
29:45 - Commentary on dividends and share repurchases?
A lot has changed in two months. As Mintzmyer and the VIE team gather a new round of participants for a COVID-19 and Oil Price War focused forum this week, one of the themes is how that situation has changed. And there's no better place to start than with International Seaways (INSW). CEO Lois Zabrocky and CFO Jeff Pribor took part in the first forum - it was our most recent VIE episode posted - so it offers an easy compare and contrast.
Topics Covered
2:00 minute mark: What is the immediate impact of COVID-19 to your markets?
3:15 - How much follow-on activity is coming out of China?
4:45 - Any non-traditional routes developing due to the oil price war?
6:00 - How does INSW benefit from this market?
8:00 - Is the Suezmax market benefitting from this strength?
10:45 - How is the Panamax market performing now?
12:00 - MR product tanker market update?
13:45 - Any indications of potential product market storage?
14:45 - Have you adjusted your operations, shoreside and at-sea for COVID?
17:30 - IMO 2020 transition and scrubber update?
21:15 - Current timeline of scrubber installations in China (60 days!)
22:30 - Can you delay or back-out of scrubber installations?
25:00 - What is your current and target balance sheet leverage?
28:00 - Restrictive covenants in the current debt facility for repurchases?
29:45 - Commentary on dividends and share repurchases?
Activity