We take a look at what was said in the market over the past week.
But it might be that with a $1.6bn shopping spree in mind those “ladies” are taking another look at Almi’s Costas Fostiropoulos
(Almi Gas plans $1.6bn LNG play)
“To create a $1.6bn LNG company is explosive. It is a total of eight LNG carriers that is explosive. But I am aware of this. Don’t think I’m not.”
And Costas Fostiropoulos is brave too. An LNG carrier owner talking about things that go bang. Lets just hope Tim & Hayden Riley don’t read TradeWinds.
(Almi Gas to list in Norway this year)
“This is what society is expecting from us and we must not let it wait for too long.”
Theodore Veniamis of the Union of Greek Shipowners calls on wealthy fellow owners to dig deep in their pockets and provide “decisive and generous economic support” in their country’s hour of need.
“Eagle continues to pay its board and three executive officers substantial cash pay despite the company’s losses and risk of insolvency.”
Seems that remuneration controversy is not the exclusive preserve of the financial sector or maybe Deutsche Bank’s Justin Yagerman is just jealous.
(Eagle silent after analyst blasts chiefs’ pay packets)
“We expect that cash compensation and equity awards for our chairman other than for his service as a director will be determined based on his involvement in successful strategic and transactional work for us.”
Sounds like Peter Georgiopoulos can look forward to substantial remuneration for his unique contribution as chairman of Genco Shipping & Trading
(Genco explains Peter G’s remuneration)
“We had some problems in late 2008 and early 2009 but since then such losses have been very limited. We have been very rigid in choosing our counterparts.”
Torvald Klaveness managing director Lasse Kristoffersen reveals he is fussy about who he does business with.
(Germans up pool tally at Klaveness)
Insurance consultant Just Arne Storvik appears to feel it is now worth the risk of taking a punt on the stock market.
(P&I clubs ‘require delivery of 6% growth just to stand still’)
“Without active political support, the existence of the entire maritime economy will be put at risk.”
Werner Luken of Germany’s Verband fur Schiffbau und Meerestechnik warns that Europe is in danger of losing its shipbuilding and marine engineering expertise.
(German yard body issues grave caution)
“We continue to reduce our debt on a quarterly basis but will need to see an improvement in charter-free market values in the next few months. Otherwise a further waiver or other relief might be required.”
Global Ship Lease chief Ian Webber lays the difficulties facing containership owners on the line.
(Loan to value monster rears ugly head again for owners)
"The outlook for the remainder of 2012 continues to be challenging because of uncertainty over the development of the fundamentals in the dry bulk and container sectors as well as the overall direction of the global economy.”
And John Dragnis of Goldenport Holdings is also not mincing words.
“It has not had the effect that ‘from now on we want to settle everything. I have not seen that happening — it’s a mixed bag. In some cases, there is settlement going on, in others, litigation.”
Houston lawyer George Gaitas warns that moves by Grand China Logistics to settle disputes may have been oversold.
(Grand China settlements ‘show bias’)
“He must have been suffering for some days, but he has not yet consulted a doctor.”
Is Novoship’s lawyer, Dominic Dowley, casting some sort of aspersion on the company’s former UK manager Vladimir Mikhaylyuk who was too ill to attend the opening of a high profile corruption trial.
(Novoship trial finally begins)
"Little resilience in performing command functions or in handling responsibility for the safety of persons under his care."
A scathing comment from an Italian court on Costa Concordia master Francesco Schettino.
(Schettino ‘unfit to command’)
“The canal is looking for minor mistakes in documenting or reporting by the agent, the operator or the ship’s master.”
Money grabbers at the Panama Canal Authority are creating a headache through aggressive enforcement according to Norton Lilly’s Mike Ross.
“I consider the farm at the moment is harder work than shipping.”
Must be really tough roping steers on Martin Stopford’s ranch but at least he gets to drive a shiny new expensive tractor.
