“We are moving away from a business model of building ships and waiting for people to come and charter them. We are aiming to be more solutions-oriented.”
Andreas Sohmen-Pao defends and explains his strategy as the forty-some heir of one of the most renowned shipping empires.
(Third Generation pilots BW shipping into a new era)
“This new money gives them a longer runway if the spot markets remain soft. But I think it falls well short of the fleet expansion or replacement that they really need at this point. Most importantly, this equity raise could help them support a dividend that they’re not earning — but that’s not what equity raises are supposed to do.”
Evercore analyst, Jonathan Chappell, is less than impressed with Herbjorn Hansson's latest equity offering at Nordic American Tankers.
“I have personally invested millions of dollars in NAT over the past few weeks and $1.5m in the present offering. That reflects my view on NAT. We are looking for total return [share price plus reinvested dividends]. So far, so good.”
Hansson hits back and shows he is prepared to put his money where his mouth is.
(Debate rages over Hansson’s move to raise equity)
“The downside risk here has never been lower than it is now. We are looking to do more containership deals and are in talks with German banks. We don’t expect the market to improve this year but more likely in 2014.”
Thor Dahl managing director, Yngvar Larsen, remains interested in the liner market despite a big loss on two idle containerships.
(Credit Agricole clobbered by losses on Thor Dahl duo)
Cheap at the price of $2.58m? The remuneration and stock awards that Peter Georgiopoulos picked up at Genco Shipping & Trading last year.
(Struggling Genco awards $2.5m in bonus payments)
“It’s oil that moves ships, not ships that move oil.”
Vitol’s Paul Thomas has a trader’s take on the tanker business... but maybe an owner paying a bunker bill might have a different view.
(A trader's view of shipping markets)
“We choose to sell or scrap older, inefficient tonnage. We do not intend to retain any older ships longer than it is necessary.”
APL president Kenneth Glenn appears to have hit on a strategy that is preferable to disposing of new efficient vessels.
(Opinion split on 'greening' fleets)
“Another small increase in confidence is very good news. Indeed, two successive quarters of improved confidence is in many ways more encouraging than one sizeable swing. It suggests that confidence is slowly building, indicating the start of a credible recovery.”
Richard Greiner of Moore Stephens sees green shoots, or maybe even a sea change, in the shipping business.
“We believe the order book will continue to run off over the course of 2013 paving the way for a potential recovery in rates as early as later this year.”
Sophocles Zoullas of Eagle Bulk is also in optimistic mood.
“We can talk directly to PSC authorities because they are dealing with British inspectors. And now we see deficiencies becoming less and less. They [non-British PSC authorities] know that if they write nonsense we will object. Now we find that everything they [PSC authorities] write is correct and to the point.”
Debasis Mazumdar reveals the UK is prepared to go an extra mile to keep the Red Duster flying.
