We take a look at what was said in the market in the past week.
So now we know. Seems you don’t need magic feet or Hollywood stardust to hang a trophy WAG on the arm. A big ship or better still a fleet works just as well.
“Genmar was the first company I started. All of the others grew out of it. I sit at Genmar. It’s an extremely important company. I told everybody we’d get this straightened out.”
Peter Georgiopoulos wraps up a capital injection for US tanker owner General Maritime Corp.
“Have you ever heard the term fair weather friend. It’s our belief that we’re partnered with an industry that is cyclical. We’re going to be there to help this industry in an up cycle and in a down cycle. “
Seems like Simon Rose of Dahlman Rose is one of a kind...a friendly helpful banker.
Dahlman spells out rationale of Blackstone team-up
“It is hard to believe that there will be enough orders to satisfy shipbuilding capacity in the years to come.”
Sounds like it is time for Barry Rogliano Salles’ Jean-Bernard Raoust to run down his newbuilding department.
Pundit has little faith in newbuilding bounceback
“Our client OSG has decided to no longer pursue their objections to the Aker Shipyard financing because they are planning on approving the project."
You can't fault the logic of Aker Philadelphia Shipyard lawyer Raymond Pepe can you?
"Vapores going bankrupt is an option that can be completely dismissed."
Capital is tight at Chilean container line CSAV but there is no danger of the company failing according to Arturo Claro.
"He achieved his wealth by investing heavily in the shipping market at a time it was in the doldrums and made a lot of money from that. It seems probably he would have continued to make a lot of money but for the freezing orders.”
Mike Lax, lawyer for Russian businessman, Yuri Nikitin, on why his client wants $180m of compensation from Sovcomflot.
“We are very happy about the amount. It is good money but I cannot tell you the figure,”
Stena ship buyer, Stefan Wingqvist, on the payout Australian shipbuilder Austal has made for infringing the Swedish owner’s patent rights.
Tom Midttun of NorthEdge on why you should look out for the scratches and bite marks next time you venture into the insurance market.
“Our experience is that the people we deal with think whatever they pay is worth it. Service is extremely important for shipowners when something goes wrong.”
Sounds like Claes Isacson of Gard finds his members and clients rather less price sensitive than the ones found elsewhere.
“It is important for us in Norway to have an engine like Gard driving the market forward “They are doing a tremendous job and getting a lot of things right. They are a big international player but keep a local approach.”
Always best to have top underwriters and brokers on the same side according to Odd Christian Krohn of Willis
‘Prudence’ keeps Gard on top rung
“There used to be a lot of talk about the many problems. My impression is that there is now more talking about the many opportunities and the new risks that need to be addressed. There is definitely an optimistic mood.”
Things are looking looking up for marine underwriters...at least in the Nordic region according to Cefor's Helle Hammer.
