“Sofar there are no major sign a lack of maintenance is creating substandard ships.Like other industry bodies we have the same concerns about unsustainableshipping rates and worries that it might deliver the same results as in thepast.”

WarwickNorman of the RightShip vetting agency sees no evidence the financial troublesof the shipping industry is leading to lower standards.

(RightShiprolls with the times)

“Differenttimes require different ships.”

NotConfucius, but a new Chinese proverb for today’s shipping industry from Shanghaianalyst, Liu Xunliang, who is concerned that China’s owners are not investing in suitablemodern tonnage.

(Cautiousowners at risk of missing 'Chinese dream')

“Dueto the low ordering prices and high fuel efficiency of our new buildingsFrontline 2012 will have significant lower long term capital cost and betteroperating economics than the majority of our main competitors.”

JohnFredriksen is confident that Frontline 2012 is on course for an IPO withinthe next eight months despite a first quarter loss.

(Frontline2012 falls to red)

“Continuedoperation in the spot market at rates that do not support the debt of thevessels increases the risk of the company and will have a negative influence onthe company's future earnings and credit profile if the low spot ratescontinue, in addition to increasing the net debt of the company.”

Buta warning from Fredriksen’s ITC that VLCC rates remain well below the breakevenlevel.

(ITCcuts loss)

“Whilethere are rational reasons why an individual company orders new ships ratherthan buying existing ones, everybody doing the same thing results in collectivemadness?”

AndreasSohmen-Pao cautions against a ‘follow my leader’ stance even on eco-ships.

(Oil-thirstydinosaurs)

“Itis the equivalent of renovating an old house for the purpose of saving energy:fitting a new boiler, replacing windows, re-insulation etc.”

Maerskreveals that upgrading older containerships could boost earnings by at least$10m a ship.

(Goldenoldies?)

“Theeco story is a good one to sell to the US investor.....The other point toremember is every year the ships' design, the engines, are getting better sothe eco ships of today next year will not be so eco.”

Seasure’s Richard Rivlin hedges his bet on a revival of the shipping market.

(Bigships, bigger gamble)

“Shippingis still not a nice word in banking, especially on a board level.”

AndDVB’s Dagfinn Lunde reveals that crude tankers and bulk carriers are almost profanaties.

(Passiveaggression)

“Mergers,properly executed and on the right terms, could lead to efficiencies forshipowners.”

Theview of top P&I club manager Alistair Groom as he prepares to hand over thehelm at the Standard Club.

(Topclub manager says P&I mergers may benefit owners)

“Thescrap dealers are having a free hand. Frequent thefts of the scrap have alsoraised questions on coastal security.”

Anew trend in shipbreaking? A warning that a “scrap mafia” is taking apart thewrecked bulk carrier Black Rose from Sudhakar Mantray of the Paradip PortTrust.

(Scrapmafia’ moves in)

“Someof these takers who come to the market now even expect the charter market tocontinue in a bad mood for a few years. But they expect the stars to align atsome point where we will see more scrapping, less ordering, even discriminationfrom the oil majors that might say only modern vessels for period businessplease.”

GustavAndre Steimler, Lorentzen & Stemoco’s own Nostradamus, looks to the future.

(Powerof three)

“Themost positive thing these days is actually this party. It’s a wonderful party.”

Timesmay be tough but party animal Arne Blystad still knows how to have fun on aship.

(Reasonsto party?)