A comprehensively pessimistic view of where the heirs to shipping fortunes see their future from Kingsley Koo of Valles Steamship.
Hong Kong can be like an adapter. You want to plug into the world? You need an adapter.”
An electrifying explanation of the role Hong Kong plays for China from Thomas Ng of Jinhui Shipping & Transportation.
“If I was them, I would build a train of ships from Brazil to China.”
And a fantastic recommendation to China’s policymakers from the Jinhui boss, but maybe a convoy stands a better chance of floating.
(Beijing’s ‘train of ships’ may spell disaster for dry bulk)
“I was happy to reject a chartering manager’s offer to charter one of our suezmaxes for a year at $60,000 per day today. I may have to reconsider.”
Although Nikolas Tsakos of TEN suggests the light at the end of the tunnel of low tanker rates is blinding he manages to curb his optimism.
(Tanker owners cheer oil price drop)
“We’ll keep saying it ‘till you get bored; crude tankers are ‘printing’ cash.”
Eirik Nikolai Stevseth of Arctic Securities seems to have no doubts about the outlook for the tanker market
“There are probably enough investors who’ve had their fingers burnt from shipping in the past that they want to see the whites of the eyes of a sustainable cyclical recovery rather than a seasonal blip."
Evercore analyst, Jonathan Chappell, warns that investors are taking the long view and waiting to see if the improvement in tanker rates is sustained.
(Crude tanker spot rates climb yet share prices remain flat or soften)
“The decision to suspend the dividend has been a difficult decision for the board.”
But John Fredriksen admits times are not so rosy for rig owners such as Seadrill.
A rather graphic warning of the zombie shiping companies stalking the German market from Jan-Hendrik Heikes, of Ernst Russ Shipbroker.
(Germans search for new meaning in post-KG world)
“If that comes through from Berlin, half of the German container owners will be bankrupt overnight.”
The threat posed by a German plan to tax shipping pool profits described by Jan-Hendrik Heikes of Ernst Russ Shipbroker.
(German owners up in arms over controversial shipping pool tax)
“With the bankruptcy filing of the parent, the subsidiaries were notified that they were on their own, orphans who along with their customers are additional victims of the fallout of their parent’s collapse.”
The heartbreaking plight of OW Bunker’s US subsidiaries described by lawyer Natalie Ramsey of the Montgomery McCracken law firm.
(OW’s US entities start fight over ING’s receivables claims)
“I strongly believe that the only reason funds should be removed from the mutual pot is because a club’s free reserves are more than sufficient for compliance with the regulations, and if removed should be refunded.”
Michael Vourlides of Piraeus insurance broker Minimar Shipping doubts the propriety of P&I clubs moving into the fixed premium market.
(Is it right that mutual funds are used to create fixed-premium P&I facilities?)
“In all likelihood, the security companies pay the pirates to stay away. Of course, they never openly admit to that and we are just happy that our ships are safe.”
The novel Nigerian solution of protection money before the event rather than a ransom afterwards described by Transocean chartering manager, Annkit Agarwal.
(Local problems keep staff busy)
"Peter, I married you for love, not lunch every day."
Seems Helene Anker would rather pack her shipbroker husband off to the office than have him cluttering up the house.
“This sport, this game we play, is better played as a team rather than as a set of individuals. I think that is where we are going to have a lot of fun.”
But Andi Case is not complaining as he likes the idea of signing Anker and other Platou players to his team.
(‘Dynamic duo' to continue front-line broking careers)
"We asked the captain if he had GPS or any navigation device to guide him. He said he only had a compass, which he couldn't find."
Jain Jacob recommends taking a smartphone on some Indian ferry voyages.
“The number of ships that we are repairing has not changed but we are not making much profit due to the fierce competition from compatriots and repair yards in Vietnam and the Philippines.”
Huarun Dadong Dockyard may have made a breakthrough into the cruiseship repair market but commercial director CB Zhang warns that pricing is tight.
“This award confirms that we have followed the right path with our retrofit concept. It ensures higher efficiency, more business per vessel at greater flexibility and helps to significantly reduce slot costs.”
Lets hope that DNV GL has sent Jurgen Kudritzki of ER Schiffahrt an award fit for a trophy cabinet rather than a piece of paper.
