The Value Investor's Edge Live #30: Insights From 6-Bagger Danaos Corp. (DAC)

35:20
 
שתפו
 

Manage episode 282660553 series 2505215
על ידי Joseph Sancio and Seeking Alpha התגלה על ידי Player FM והקהילה שלנו - זכויות היוצרים שמורות למפרסם, לא ל-Player FM, והשמע מוזרם ישירות מהשרתים שלכם. הירשמו כדי לעקוב אחר עדכונים ב-Player FM, או הדביקו את כתובת העדכונים באפליקציות פודקאסט אחרות.

Evangelos Chatzis, CFO of Danaos Corp. (DAC), a major containership lessor, joined J Mintzmyer's Value Investor's Edge Liveon Nov. 12, 2020, to discuss the containership markets and forward free cash flow potential.

Danaos was a top pick at the time at Value Investor's Edge and traded at a more than 50% discount to net asset value even as underlying market conditions were surging. We had allocated shares to this position at $5.05 in early-September, making DAC a potential 6-bagger as of the 2nd week of January (6x in 4 months). Admittedly DAC outperformed even our wildest expectations and our current 'fair value estimate' is $25/sh.

Show Notes

  • (<1:30) Intro/Disclosures
  • (1:30) What are the primary drivers of the containership market strength?
  • (6:00) Any more opportunities to acquire ships in this market?
  • (8:15) Discussion on current adjusted NAV.
  • (9:50) Locking in lower cost interest rates? Target liquidity levels?
  • (14:00) Potential for more private share repurchases?
  • (15:30) Excess free cash for distribution or investments? Dividend plans?
  • (22:30) Upcoming plans for the Gemini Joint Venture?
  • (23:30) How far ahead can vessels be fixed? For what duration?
  • (27:00) Impact of rechartering levels on future free cash flow?

Learn more about your ad choices. Visit megaphone.fm/adchoices

110 פרקים