Beautiful shipping

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

“Shipping is beautiful because it is unpredictable. When you don’t expect it, good times will come.”

Thanassis Martinos reveals salt water in his veins but is he forgetting that unpredictable also means bad times come around too.

(East Med boss ‘flirts’ with floating for ‘continuity’)

“How bad can it get? Well, if you overbuild the market and you have excess supply to demand, it can get as bad as you like for as long as you like.”

Euronav chief executive, Paddy Rodgers, issues a stern warning about the dangers of an oversupplied VLCC market.

(Rodgers pushes for more consolidation in VLCC segment)

“When the window closes and when the market gives us the opportunity, we will sell everything. It could be in one en-bloc transaction or it could be in stages — whatever is most favourable.”

Chief executive William Hung reveals that although Teekay offshoot, Tanker Investments, is still buying the company does not have a long term future.

(TIL reverts to $150m war chest for tanker fleet expansion plan)

“It is just great to see this ship and to celebrate its naming. This project has taken a lot of effort, time and work. It has really been like giving birth.”

Boa Offshore chief executive, Helge Kvalvik, found delivery of the company's latest anchor handler laborious and maybe painful.

(Boa Offshore beats odds to christen long-delayed newbuilding)

I’m not convinced in the long run it is correct to have that number of clubs. In my view, we need clubs of sufficient size to take appropriate risk themselves and not rely on expensive reinsurance but at the same time we need a sufficient number to ensure there is competition. We are open to dialogue.”

Is this a come up sometime and see me invitation from Skuld chief executive designate, Stale Hansen?

(Skuld eyes $1bn target as Hansen takes helm)

“Last year, we managed to achieve savings of $800 per day per vessel without any particular effort. This goes straight into the owner’s pocket.”

Well done to Klaveness pools chief, Hans-Petter Olsen, but also sounds as if there was quite some room for improvement.

(Interest escalates in Klaveness bulker pools as markets remain under pressure)

“What is beneficial is flagging ships, selling licences... and everything else.”

Luis Fruto of the Panamanian ship officers union warns that the largest flag state is more interested in revenue than cadet training.

(Panama faces yet more heat over crew licensing)

 “Both government and commercially owned ships are illegal to export to developing countries, and they should all be managed in green ship recycling yards in developed countries and not on the dangerous and polluting beaches of South Asia.”

Environmentalist Ingvild Jenssen presses the case for the Japanese car carrier, Global Spirit, to be arrested before it sails for scrapping at Alang.

(Greens call for Belgium to act on ‘toxic’ ship)

“What chance does the master of the Sewol have of a fair trial when he has already been branded a murderer in all but name by the South Korean president, and the media has already passed sentence on him?”

John Dickie of the International Federation of Shipmasters' Associations doubts the master of the tragic ferry can have a fair trial.

(Nautilus calls for master of Sewol to be treated fairly)


  1. Quotes of the week: shipping wit

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

  2. Scandinavian owners win deal-making crown

    Study suggests Greeks may not have bragging rights in S&P market to themselves.

  3. Arctic Sea six sent down