Our debut episode on the Investing Edge is also the debut of J Mintzmyer's Value Investor's Edge Live.
J begins by speaking with Robert Bugbee, President of Scorpio Tankers and Scorpio Bulkers, about the company's improved position.
Bugbee discusses the 'good problems' their situation causes and how they are prepared for IMO 2020.
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This is our debut episode of Value Investor's Edge Live. Hosted by Seeking Alpha author J Mintzmyer, lead researcher at Value Investor's Edge, the show will feature J's conversations with publicly traded shipping company CEOs, sector experts, and fellow deep value investors about their companies and investing approaches. J has been a contributor on Seeking Alpha since 2011 and has become a leading analyst in the shipping sector, often quoted in industry publications and speaking at industry events like Marine Money.
In the inaugural episode, Robert Bubgee, President of both Scorpio Tankers (STNG) and Scorpio Bulkers (SALT) joins Value Investor's Edge Live's. inaugural episode along with James Doyle, Senior VP and Chief Financial Analyst for Scorpio Group to discuss the product tanker and midsize dry bulk markets. The call was recorded on August 1st, 2019 but should still be relevant with the looming IMO 2020 (International Maritime Organization) regulations. This interview and discussion is relevant for anyone with product tanker investments including Ardmore Shipping (ASC), Diamond S (DSSI), Navios Maritime Acquisition (NNA), Torm (TRMD), and Tsakos Energy Navigation (TNP).
Click play above to listen. Check out any of the links above to sign up and subscribe to this podcast for future episodes, as well as access to our other shows on the channel (read more below).
- Start of discussion / When will IMO 2020 show up? 2:45 minute mark
- Increased interest from suppliers/customers: 6:45
- How is the midsize bulk market looking? 9:00
- What might SALT do with STNG holding? 15:15
- IMO 2020 as a major catalyst: 22:30
- Can installations of scrubbers be sped up? 24:30
- Any surprises or dislocations with scrubber installations? 28:00
- What sort of spreads are we expecting? 29:15
- Discussion of particular blends/logistics (dirty/clean)? 32:00
- Will VLCC deliveries hurt the product tanker market? 36:30
- When will Scorpio Bulkers be comfortable repurchasing? 38:45
- Timing of repurchase and 'game theory:' 41:00
The Investing Edge will feature multiple shows from some of our top authors, with each focusing on the given hosts' investing style and interests. We're launching the new channel with two shows. Value Investor's Edge Live is the first.
Akram's Razor of The Razor's Edge will be the lead host of our other show, also called The Razor's Edge. SA Editor Daniel Shvartsman will be co-hosting, and the two will be discussing specific ideas from his investing watch list or portfolio, including specific ideas and takes as well as discussion about the research process. Akram's Razor has been on Seeking Alpha since 2010 and has built a reputation for deep-dive research, including thoroughly supported short ideas.
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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: J Mintzmyer is long SALT and STNG. Robert Bugbee and James Doyle are employed by Scorpio Tankers and Scorpio Bulkers. Nothing on this podcast should be taken as investing advice.