The Value Investor's Edge Live #24 Reviewing the crude tanker markets with Euronav (EURN) CEO Hugo De Stoop
Manage episode 278975961 series 2505215
Hugo De Stoop, CEO of Euronav (EURN), a leading crude tanker company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 10, 2020, to discuss the crude tanker markets and forward opportunities and capital allocation priorities for Euronav. This interview and discussion is relevant for anyone with crude tanker or product tanker investments, including Ardmore Shipping (ASC), Diamond S Shipping (DSSI), DHT Holdings (DHT), Frontline (FRO), International Seaways (INSW), Navios Maritime Acquisition (NNA), Nordic American Tankers (NAT), Scorpio Tankers (STNG), Teekay Tankers (TNK), Tsakos Energy Navigation (TNP) and Torm (TRMD).
- (1:30) Latest market views, signs of optimism?
- (5:40) Demolition dynamics? Chance of increased scrapping?
- (8:50) Older vessels still selling? Economics of trading?
- (12:20) Reduced scrapping due to over-optimism?
- (17:30) Capital allocation priorities now?
- (21:30) Internal calculations/logic for share repurchases vs. growth?
- (24:30) Review of ULCCs and older Suezmaxes?
- (29:50) FSO joint venture, economics and refinancing?
- (35:40) Which assets are most attractive to buy today?
- (38:10) How much of the $1.2B is required buffer?
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