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Diamond S Shipping Inc. (DSSI) CEO Craig Stevenson on Q1 2020 Results - Earnings Call Transcript

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Diamond S Shipping Inc. (NYSE:DSSI) Q1 2020 Earnings Conference Call May 8, 2020 8:00 AM ET

Company Participants

Craig Stevenson - Chief Executive Officer

Kevin Kilcullen - Chief Financial Officer

Conference Call Participants

Ben Nolan - Stifel

Omar Nokta - Clarksons Platou Securities

Randy Giveans - Jefferies

Liam Burke - B. Riley FBR

J Mintzmyer - Value Investor's Edge


Ladies and gentlemen, thank you for standing by and welcome to the Diamond S Shipping First Quarter 2020 Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Mr. Craig Stevenson, CEO of Diamond S. Thank you. Please go ahead.

Craig Stevenson

Good morning, and welcome to Diamond S' first quarter 2020 earnings call. Thanks for dialing in this morning.

Before we begin, we'd like to draw your attention to our forward-looking statements disclaimer. We will be making certain statements about future events that may or may not happen in the way in which we describe. Please read Page 2 in its entirety for our disclaimer about forward-looking statements.

Please turn to Slide 4 to review our operating performance. In the first quarter of 2020, we earned approximately $46,725 per day in our crude fleet on the spot market, and about $16,425 a day in the products spot market, which includes our MR tankers at $16,600 per day. All-in TCE was $42,900 per day and $16,000 a day in both the crude, fleet and the product fleet, respectively.

At Diamond S, we look at operating earnings in our fleet, which we calculate TCE less OpEx less G&A, because we think it's important to highlight given

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Comments (3)

The Freak profile picture
lot of pumping on this name coming into earnings 😕
bazooooka profile picture
Good call. They seem very cautious about 3Q and beyond. The product side might be the silver lining. If the P/NAV falls below 40% I think many will step in. Hard to see this one going below $8. No buyback support right now though.
HariSeldon522 profile picture
Thx for the article!!!
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