Revolutionary thinking

We take a look at what was said in the market over the past week.

ValemaxrevolutionIns.jpg“Following the rapid development of vessel upsizing, there is an irrational contradiction that remains quite evident in parts of this country’s coastal port capacity structure.”

Seems there is an undercurrent of revisionism seeping through China’s Ministry of Transport.

(Beijing says not keeping up with bigger ships is ‘an irrational contradiction’)

“The Chinese shipyards are holding back on capacity to create a sense of scarcity. There is still overall global overcapacity in shipbuilding.”

Raymond Ching explains why Jinhui Shipping is keeping its money in the bank rather than following the order minded herd.

(Hong Kong’s Jinhui keeps its powder dry and its eyes open)

“It is always the same story. Somebody makes a strategic plan for the next couple of years and implements it, only to find out in the next three or four months that 25 others follow.”

And Target Marine’s Alexandros Poulman has heard it all before.

(Target Marine grows with well-timed tanker orders)

“The US does not have any yards currently capable of building LNG carriers, and the time and cost it would take to be in a position to do so would make the final product uncompetitive by world standards.”

 Excelerate Energy’s Rob Bryngelson tells some home truths about the land of the free expensive ships.

(US rejects strict shift in Jones Act rules for LNG carriers)

“The climate of trust and co-operation between the Greek government and the shipping community has been rocked by the move to impose compulsory triple taxation on all ships managed out of Greece.”

Something is rocking the boat and according to the Union of Greek Shipowners president Theodore Veniamis it appears to be that most sinister of threats... taxation.

(Shipowners’ union slams Greek government over triple taxation)

ThirstyTubsIns.jpgWhile some owners have a fuel-efficient design, others “have decided to take a bath tub and start sailing with it using a little less finesse on some of the details.”

Maersk Line’s Anders Boenaes is sceptical about the credentials of some wide beam containership.

Maersk negotiations on Oaktree wide-beam ships stall over rates

 “We’re just trying to keep it simple and down to earth — to go back to the market, reinvest conservatively and try to take advantage of the low asset values prevailing.”

George Bachos lays out his strategy for growing the LMZ Shipping fleet

(LMZ Shipping back in the game after six-year gap)

“We believe that the product segments has a reasonable chance of returning to attractive rates in the coming years and in order to stay relevant and attractive in these markets, we need to gradually renew our fleet to maintain a suitable average age.”

But Maersk Tanker’s Morten Engelstoft is in expansionist mood.

(Maersk adds MR options)

And finally it looks as if the shipping industry is getting spaced out and ready for blast off.

“Everybody wants to play the LPG space,” says StealthGas’ Harry Vafias

(StealthGas’s Harry Vafias laughs off talk of Epic Gas rivalry)

But Scorpio Tankers is already the leading listed company in the products space.

(Questions over Diamond’s sparkle as IPO looms large)

ShippingSpaceIns.jpgNavig8’s Jason Klopfer is however “looking at many opportunities in the products space.”

(Navig8 stays quiet on huge products tanker contract)

Navios chief executive Angeliki Frangou is interested in buying vessels in the IMO II space.

(Navios tanker arm set for chemical fleet expansion)

But Navios colleague, Ted Petrone, sees more upside potential in the VLCC space.

(Frangou favours VLs)

But Arctic Securities is more down to earth and interested in contracts in the subsea space.

(Niche debut ‘makes sense’)

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