Fuels of the future

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

BeachIns.jpg“We are not saying that LNG will not be the fuel of the future but that seeing new ships built with LNG today (many of which are in niche markets/shortsea shipping) and overturning the marine-fuel landscape in less than a ship’s lifetime are two entirely different discussions.”

Lloyd’s Register sees the future of marine propulsion and it has an oily sheen.

(Lloyd’s Register says conquering HFO dependency will take years)

“The build-up of a sufficient infrastructure network for alternative fuels is a necessary condition to accelerate the demand for alternative-fuel vessels.”

DNV GL sees the potential for greener fuels as enormous. Just a pity that it may take up to 50 years for change on a significant scale to take place.

(Governments could play leading role in shipping’s eco drive)

“Put very bluntly, why should a shipowner go to the effort of creating Inventories of Hazardous Materials only to be told you have to do it all again or that the product will be ignored anyway?"

Blunt talk about cleaning up the ship scrapping industry from John Stawpert of the International Chamber of Shipping at TradeWinds’ ship-recycling forum.

(Ship scrapping steels itself for an era of change)

“You can do a lot on a beach.”

And Henning Gramann’s Green Ship Recycling Services is not thinking of ice cream or getting a tan.

(Gramann and ClassNK push Indian demo yard standards)

“The last cycle in commodity shipping taught an important lesson that both high financial and operational leverage is a dangerous mix in a cyclical industry.”

A warning that ambitious IPOs do not go with charter market exposure from RS Platou analyst, Herman Hildan.

(Avance bid reveals fault lines among Dorian’s investors)

“Ardmore recently issued shares at a net price which is a discount from the market value of their fleet. Diamond S is not prepared to follow suit. We are not opposed to be publicly owned but not at any price.”

Wilbur Ross explains that he would rather see the Diamond S IPO pulled than sell shares below net asset value.

(Signals still unclear on failure of Diamond S Shipping IPO)

AfternoonTeaIns.jpg“We are not going to have high tea together anytime soon.”

A reconciliation between Andrew Brooker and his old boss at FP Marine in the lobby of the Peninsula Hotel appears somewhat unlikely.

(FP Marine takes legal action against two ex-employees)

"It is highly visible, highly transparent.”

Is Star Bulk chief executive Spyros Capralos suggesting the relationship between Petros Pappas’ public and private interests involves optical magic or stealth technology?

(Star Bulk pursues managed fleet growth)

“I am keen on [smaller containerships] because the sector is underbuilt. There is good demand for them going forward.”

There are those who favour 18,000-teu containerships, but big is not always beautiful according to Michael Bodouroglou of Allseas.

(Smaller boxships are back in vogue)

“Owners were a bit more optimistic a few months ago than they are now and seeing new ships rush into the North Sea is actually a big worry for some.”

The market for anchor handlers appeared to have changed according to Goran Rostad of Westshore Shipbrokers.

(Eighteen AHTS units valued at $2.17bn idle in Bergen)

 “By cutting off the crew members’ access to the court system, that allows the shipping companies to overwork the crew members and to understaff their vessels because there is no outlet for them to enforce their rights.”

Lawyer Charles Lipcon is very concerned about seafarer rights and by one of those happy coincidences is a founder of the Miami contingency fee firm of Lipcon, Margulies, Alsina & Winkleman.

(Bill set to close court doors to foreign cruiseship crew)

“The judge was wrong to reach the conclusion which he did and to hold that a limitation fund could not be constituted by means of a guarantee, and, in particular, a club letter of undertaking.”

Appeal court judge, Lady Justice Gloster, puts Justice Simon right about what security is needed to establish a limitation fund.

ClogIns.jpg(Standard Club in limitation fund victory)

 “We don’t want to be a big club. Our ambition is to be very stable, financially healthy and, with a good spread of risks, provide a first class service to members.”

Modest aspirations for the Noord Nederlandsche Protectie Club from chairman Robert Beets, but sentiments hard to argue with.

(Dutch hull mutual merger set to boost Noord Nederlandsche club)