Norwegian shipowner Kristian Siem delivered a stinging criticism of banks as the maritime industry grapples with the financial pressures of today.
Siem — introduced by Clarksons Platou Securities chief executive Erik Helberg as the Warren Buffet of Norway at Nor-Shipping on Tuesday — also voiced support for consolidation and shared some investment secrets.
"It's quite a conundrum that we can't deal with our day to day challenges in a more efficient way," Siem said, noting that banks had in many cases become the de facto owners of vessels.
