Dampskibsselskabet Norden A/S Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Anders Redigh Karlsen - Danske Bank A/S, Research Division - Analyst : Impressive guidance upgrade. A question in terms of -- you added quite a significant number of optional days, in particular, in the dry cargo side. Is that far out in the curve? Or is that -- when are those -- when is that optionality due? Is it 2 years from now? Or is it 1 year from now? Or how can we look at that?

Question: Anders Redigh Karlsen - Danske Bank A/S, Research Division - Analyst : Okay. No, that answers it. In terms of the new buildings, I mean you're saying that you're being crowded out by container vessels. So if you were to place a new building today in a decent yard, what kind of timing would it be? Kind of if you started from scratch today, when will you get delivery? Any idea around that?

Question: Anders Redigh Karlsen - Danske Bank A/S, Research Division - Analyst : I thought you agree with the argument then that it's always the oversupply that's just market leading. And I'm surprised that there hasn't been influx awarded, but that also shows the complexity of the questions around the future and everything. So it's going to be interesting to watch the development. But I thought in terms of crowding out on container vessels, isn't that more on the tanker yards than the dry cargo yards? Or have they also moved into their container space and going to construct more and more of these assets?

Question: Anders Redigh Karlsen - Danske Bank A/S, Research Division - Analyst : Okay. That's good. So it's interesting to watch the developments here. And the strength of the market is taking me by a bit of surprise, but it's just fantastic to see. But more of a general note, what keeps you up at night these days, except for counting cash in the dry cargo segment? What the reward is?