Dampskibsselskabet Norden A/S Q2 2024 Earnings Call Transcript

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

Question: Ulrik Bak - SEB - Analyst : Yes, hello, Jan and Martin. Just a couple of questions from my side. This performance in the freight service and trading segment, can you perhaps expand about the phasing in the second half of the year, when you expect to be break-even, and perhaps also more medium-term, what your target is for earnings per day? You mentioned something about the market environment being similar to 2019 levels. Should we look at the earnings per day at that level for the second half? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2024 / 1:00PM, DNORD.CO - Q2 2024 Dampskibsselskabet Norden A/S Earnings Call

Question: Ulrik Bak - SEB - Analyst : Understood. And then perhaps a follow-up question on that. So what needs to happen? What kind of dynamic changes should we look for this segment to start trending back to these $500 per day? Because clearly, right now, you also allude to that the time charter rates are higher than the spot rate. So what are you hoping for the market to develop like so this could be improved?

Question: Ulrik Bak - SEB - Analyst : Okay, understood. Then a question on your guidance. You booked an income from these subleases that you entered or agreed during Q2. Have you also assumed some income from the more subleases in the second half of the year?

Question: Ulrik Bak - SEB - Analyst : Okay, understood. And then perhaps a final question from me. In your table with the capacity and coverage information, I can see that the quarterly chartered dry cargo and tanker vessel days, they are declining from `24 to `25 and again from `25 to `26. Are these vessel days that we can see from these tables, are they realistic? Or will you charter in more capacity as time goes by?

Question: Ulrik Bak - SEB - Analyst : Okay, so in 12 months' time, we shouldn't expect the `25 number or the `26 number to have risen compared to what we've seen in the table today?

Question: Ulrik Bak - SEB - Analyst : Of course, thank you.