Subsea ambitions

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

BeneathWavesIns.jpg“The Norwegian maritime industry has become a world leader not only at sea but also in and under the sea."

Scary! Let’s hope that Lars Peder Solstad is referring to the offshore market rather than rusty steel on the sea bed.

(Norwegian shipowners elect Lars Peder Solstad as president)

 “It is becoming increasingly challenging to make money in the OSV sector.”

David Palmer of Pareto Securities is becoming more cautious about the outlook and sees restructuring ahead as top owners find their cost base under pressure.

(Owners face ‘increasing challenge to make money’)

“The price was amazing.”

Seems Nicholas Kosmatos is not a believer in the you get what you pay for adage even though he is aiming to build Sealink Navigation into a company with a very solid reputation.

(Sealink Navigation gallops onto field with bulker fleet)

“If the price is right, we will continue to pick up secondhand tonnage in addition to ordering new ships ourselves."

Niels Stolt-Nielsen appears to be another owner who does not believe in wrong price acquisitions.

(Stolt-Nielsen acquisition radar pinpoints larger parcel tankers)

“I have told everybody who asks about the price that it is four letters: AMAP — as much as possible."

Whatever Wah Kwong’s Tim Huxley had in mind the ‘incredible’ price of the VLCC Venture Spirit turns out to around $43m.

(Navios Acquisition pays ‘incredible price’ for VLCC)

“We want to stay small.”

Modest ambitions for Penfield Tankers from founder, Tim Brennan.

(Newcomer Penfield takes plunge with tanker pool)

GreenShipIns.jpg“It is going to be the survival of the greenest.”

Colour prejudice or maybe RightShip's Warwick Norman finds red and blue ships not to his liking.

(Orders surge and faster speeds temper Asia dry bulk optimism)

“It offers win-win opportunities to both the money suppliers and the borrowers. They can access capital markets at a lower cost, while investors get safety in bonds backed by our solid credit.”

New Export-Import Bank of Korea president Duk-Hoon Lee confesses to a love of “financial engineering.”

(Scorpio Bulkers could be next as tanker sister secures hybrid loan)

“Details of the loyalty bonus is for the board to decide but it will be a substantial amount.”

But Shoreline’s Simon Scupham indicates shipowners can look forward to a COFR guarantee loyalty bonus north of 10%.

(Merger set to reduce COFR costs)

“These unspecified allegations are a complete fabrication and further reinforce our view that the HNA Group are resorting to increasingly desperate measures to avoid paying their debts.”

Shagang Shipping hits back as allegations of bribery are raised in an increasingly bitter dispute with compatriot HNA Group.

(HNA Group hurls bribery allegations as Shagang row takes an ugly twist)

“People want to do extraordinary things .... one day they want to go on a Royal Caribbean or Holland America [Line] ship and the next, without their kids, they want to do Galapagos or Antarctica.”

The future is bright for expedition cruising according to Robert Straubhaar chief executive of FleetPro, a new name in the passengership management business.

(FleetPro targets smaller ship market with big cruise guns)

“Tired and devastated.”

 The condition of the crew of TMT’s B Ladybug according to an International Labour Organisation video on seafarer abandonment.

FriedAliveIns.jpg(Navios Acquisition pays ‘incredible price’ for VLCC)

“It is like being fried alive by the lights and the noise.”

Seems that not all citizens of Vancouver are ship enthusiasts but they certainly have a strange way with similes. Can you be fried alive by lights and noise.... and in a notoriously rainy city.

(Port congestion shatters idyllic home dream for Canadian family)

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