“From
an industrial shipping and Chinese point of view, vessels are no different to
carrier bags to take commodities home from the shops.”
ICAP’s James Leake warns there are well over a billion brutal realists out there with no time for any of that romance of the seas tosh.
(Making a call on the market cycle)
“I was an optimist until halfway through this seminar today. When I heard Gao [ Gao Zefeng of China Exim bank] confirm what the Chinese want to do, there is no hope for any price increase of ships, newbuildings or anything. We will see low prices for the next two or three years.”
Maybe next time DVB’s Dagfinn Lunde goes to a ship finance bash he should take a pocketful of Prozac.
(Fears mount as China Exim gets ready to swell shipping portfolio)
“For those of us as CFOs and chief executives of public companies, we live for shareholder value and choosing Chapter 11 as a restructuring option is more significant than choosing an item off a menu.”
Don’t we all? Can’t be just Jeffrey Pribor and the like who have caught on that shareholder value is the meaning of life.
(Pribor describes Chapter 11 filing as grisly decision)
“MarAd has failed in its responsibility to distinguish between actual US citizen companies and entities masquerading as US citizens for the purpose of conveying the benefits of MSP to foreign companies.”
Tough being a US president. After moving to regularise the status of Mexican illegals Barack Obama finds he’s got problems with Philip Shapiro over a gang of Scandinavian shipowners.
(Liberty Global vents anger at US government)
“It
would be nice to pull dollar bills out of the hat and not have general
increases but unfortunately we are not magicians.”
Time Tord Nilson realised that the Swedish Club and other protection and indemnity mutuals have far too many underwriters and claims handlers when what is needed this year is financial wizards.
“Let me put it this way, we have not lost anyone that we are sorry to lose.”
Sounds as if Espen Klitzing feels there is not room in the Umoe lifeboat for everyone.
(Umoe to sell lifeboat arm Schat-Harding)
“We are fascinated by some of the new designs that have been put on the table and we will closely watch whether the new ships hold what they promise in terms of being more efficient.”
Appears that Carl Petter Finne is sufficiently seized with handysized and supramax bulkers for Klaveness Marine to go head to head with Torvald Klaveness.
(Klaveness Marine set to make a move into dry bulk)
“Cosco management has never intended to rely on government help and take life easy.”
Seems like there is an outbreak of entrepreneurial independence in Beijing according to Cosco’s Guo Huawei.
(No help in sight for listed China Cosco Holdings)
“The offer represents a significant step by Petronas to take MISC private and obtain full control of the company.”
But
is MISC going private or being fully nationalised?
“We sincerely regret the accidental discharge of swimming pool water that occurred in 2011, and subsequently we took measures to prevent this from happening again."
Guess Princess Cruises has particularly filthy passengers who turn pool water into a marine hazard.
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