9:30 LPG Panel - From Strength to Strength or Will the Orderbook Spoil the Party?

One of last year’s hottest markets continues surprising to the upside - and producing a firehose of free cash flow. What’s next – and where to allocate capital?.

• Mads Peter Zacho, CEO, Navigator Holdings Ltd.

• Randi Navdal, CFO, Avance Gas

• Kristian Sørensen, CEO, BW LPG

• Moderator Fredrik Dybwad, Shipping Equity Research, Fearnley Securities

 

10:00 Investing in Shipping Funds – Opportunities for LPs and Managers

The relationship between institutional LPs and the shipping industry has never been better, thanks to the success and discipline of dedicated shipping funds. In this session, investors and managers share their strategies for putting money to work.

• Nicolas Tirogalas, CIO & President, Tufton Investment Management Limited

• Atef Abou Merhi, Managing Director, Pelagic Partners

• Andy Tuchman, Partner, Blue Ocean Partners

• Investors TBA

• Moderator Nolan Olsen, Founding Member & Managing Partner, Langschiff Capital Partners

 

10:30 Hafnia’s Public Markets Journey – Perry W. Van Echtelt, CFO, Hafnia

On April 9th, Hafnia’s common shares began trading on the NYSE under the ticker symbol “HAFN,” in addition to its listing on the Oslo Stock Exchange “HAFI”. Through this listing, Hafnia joins a number of issuers in the maritime space that have added a U.S. listing to their European or Singapore listing. From broadening its investor base to enhancing its access to capital markets and more, we will explore Hafnia’s capital markets journey over time, from its inception to financing its growth through the merger with BW Tankers, its listing in Oslo, capital raises, and Hafnia’s recent listing process on the New York Stock Exchange. This session will review Hafnia’s rationale for seeking a secondary listing on the NYSE, organization of the various aspects of the listing process (e.g. SEC registration, NYSE approval, trading and settlement, and compliance with OSE and Bermuda requirements), and life as a public company in the U.S. and Oslo.

• In Conversation with Anthony J. Renzi Jr., Shareholder, Vedder Price P.C.

 

10:50 Creating Value from Shipping's Volatility – Innovation in the Public Capital Markets

• Brendan Dyson, Managing Partner, B. Dyson Capital Advisors

 

11:05 The Billion Dollar Question… Where to Allocate Capital Today?

Leaders who operate at the intersection of shipping and finance, investing and lending up and down the capital stack, talk about capital allocation, risk management and where to find returns.

• Svein Engh, Senior Managing Director & Portfolio Manager, EnTrust Global

• Ole B. Hjertaker, CEO, SFL Management AS

• Jeff Pribor, CFO, International Seaways

• Moritz Fuhrmann, Co-CEO & CFO, MPC Container Ships

• Ted Young, CFO & Treasurer, Dorian LPG Ltd.

• Moderator Doug Mavrinac, Global Head of Maritime Investment Banking, Jefferies Group LLC

 

11:35 Venture Capital and Shipping: The M&A Market for “Asset Light” Maritime Service and Technology Companies

Cost saving and decarbonization efforts at shipping companies coupled with rapidly improving technologies has increased demand and created new markets for marine service and technology companies. Cash-rich shipping companies and private equity are capitalizing on this trend, driving increased M&A activity.

• Chris Weyers, Managing Director, AMA Capital Partners

 

11:50 Finding Hidden Value in Niche Sectors of Shipping

One of the most exciting opportunities in shipping investment is discovering under-covered companies with compelling business models and high barriers to entry. In this session, we shine a spotlight on three exciting “niche” public shipping companies.

• Mads Boye Petersen, COO, Pangaea Logistics Solutions Ltd. (Nasdaq PANL)

• Jake Scott, Managing Partner, Blue Ocean Partners & Investor, Stainless Tankers (Norway STST)

• Liv Hege Dyrnes, CFO & Deputy CEO, Klaveness Combination Carriers ASA (Norway KCC)

• Moderator Hugh B. Eden, Managing Director, Jefferies Group LLC

 

12:15 Analyzing the Data: Navigating the equity financing dynamics for sub $500 million companies in the US Capital Markets

• Larry Glassberg, Co-Head of Investment Banking & Executive Managing Director, Maxim Group

• In Conversation with Matt McCleery, President, Marine Money

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1:50 Dry Cargo & Investment Returns: How to Maximize Value for Shareholders

The dry cargo market has remained resilient this year, underpinned by a modest orderbook and steady demand. In this session, top owners talk about how they are structuring their businesses and positioning their fleets, for the future.

• Peder C.G. Simonsen, CFO & Interim CEO, Golden Ocean Management AS

• Ted Petrone, Vice Chairman, Navios Maritime Partners L.P.

• Dr. Tasos Aslidis, CFO & Treasurer, EuroDry

• Peter Allen, CFO, Genco Shipping & Trading

• Moderator Wiley Griffiths, Managing Director & Global Head of Transportation & Infrastructure – North America, Morgan Stanley

 

2:20 Leading Analysts Explain Today's Best Ideas

Shipping markets have never been healthier. Demand is strong, assets values are up, cash is building, the orderbook is modest and equities are breaking out to all-time highs. But today's multi-sector prosperity has set up a vexing question for value-oriented shipping investors: What to do now? In this session, a crew of seasoned analysts share the logic behind their top picks.

• Jonathan B. Chappell, Senior Managing Director, Evercore ISI

• Omar Nokta, Managing Director, Equity Research, Jefferies Group LLC

• Frode Mørkedal, Managing Director, Shipping Equity Research, Clarksons Securities AS

• Climent Molins, Head of Shipping Research, Value Investor's Edge

• Tate Sullivan, Managing Director, Equity Research, Maxim Group LLC

• Petter Haugen, Partner, Equity Research, ABG Sundal Collier ASA

Moderators

• Ole B. Hjertaker, CEO, SFL Management AS

• Øystein M. Kalleklev, CEO, Flex LNG & Avance Gas

 

3:00 Animal Spirits: Making Public Markets Work for Companies & Investors

Shipping companies listed in the USA benefit from higher multiples, greater access to capital, and vastly more financial products, but challenges remain. In this session, a mix of active market participants share their views on the current state of play.

Valuations – How to Fix Stubborn Below-NAV valuations

Fear or Greed? Is shipping truly risky - or just misunderstood?

Who are today’s investors - and what do they want?

Creating a Shareholder-friendly structure

Activist Investors: Will the Trend Continue?

Investor Wishlist: Advice for Potential New Issuers

• Paul Leand Jr., Managing Director & CEO, AMA Capital Partners

• Ned Sherwood, Manager, Sherwood Family Office; Co-Founder and Chairman Emeritus, ZS Fund

• Dr. J Mintzmyer, Founder & President, Value Investor's Edge

• Edward Finley-Richardson, CIO / Twitter Influencer, Contango Research

• Moderator Rob Lustrin, Counsel, Head of Shipping Capital Markets (NY), Reed Smith LLP