Navigator Holdings Ltd. (NYSE:NVGS) Q1 2020 Earnings Conference Call - Final Transcript
May 29, 2020 • 09:00 am ET
Thank you for standing by, ladies and gentlemen, and welcome to the Navigator Holdings Conference Call on the First Quarter 2020 Financial Results. We have with us Mr. David Butters, Executive Chairman; Mr. Harry Deans, Chief Executive Officer; Mr. Niall Nolan, Chief Financial Officer; and Mr. Oeyvind Lindeman, Chief Commercial Officer.
At this time, all participants are in a listen-only mode. There'll be a presentation followed by a question-and-answer session. [Operator Instructions] I must advise you that this conference is being recorded today. And I'll now pass the floor to one of your speakers, Mr. Butters. Please go ahead, sir.
Thank you, and good morning, everyone, and welcome to Navigator's first quarter 2020 earnings call. As we conduct today's conference call, we will be making various forward-looking statements. These statements include, but not limited to, future expectations, plans and prospects from both the financial and operational perspective. These forward-looking statements are based on management's assumptions, forecasts and expectations as of today's date and are as such subject to material risks and uncertainties.
Actual results may differ significantly from our forward-looking information and financial forecasts. Additional information about these factors and assumptions are included in our annual and quarterly reports filed with the Securities and Exchange Commission.
Now, we are a few weeks later than normal in reporting our first quarter 2020 results. But considering that we only filed our 2019 20-F about 20 days ago, we believe that the coordination with our new accounting team at E&Y is improving and we will be able to progress from here. Now, many of you know that for the last 18 months or so, we have been talking about Navigator's road to 2020. We believe and still believe that during 2020 our operational fate would improve dramatically as various infrastructure projects would be completed and lead to a significant pickup in our export volumes on our specialized vessels.
Those projects are namely the Mariner East 2 and Mariner East 2X project along the Delaware River, the completion of the Repauno -- the new Repauno export terminal, again on the Delaware River, our important ethylene export terminal in the joint venture with Enterprise in the Gulf of Mexico along the Houston Ship Channel, and lastly, the important West Coast Canada and[Phonetic] British Columbia export terminal that is expected to be completed next year.
Now, unfortunately, shortly after we exited 2019 and entered 2020, we were hijacked by the insidious and unexpected novel coronavirus, which shut down global trade and slowed down, but did not stop, our voyage. Ironically, we, the victims of the hijack, are now wearing the face masks. But our team will outline this morning why we believe and have hope that we are now back on the road, albeit somewhat delayed.
To give us a better insight in all of that, we will have speaking this morning, Harry Deans, our Chief Executive Officer; Niall Nolan, our Chief Financial Officer; and then Oeyvind Lindeman, our Chief Commercial Officer. So why don't we have