We take a look at what was said in the market in the past week.
Costas Fostiropoulos’ advice on how to combine shipowning with the better things in life ....like flying your own helicopter to a favourite taverna. But friend and one time business partner Diamantis Diamantides also hails him as a “serious player.”
(Wide experience hones efficiencies)
“We are pleased with the operational performance of the fleet in 2010 with a good vetting record and minimal unscheduled offhire. In fact, fleet utilisation was well over 99% in 2010 excluding three scheduled drydockings during the year.”
UACC chief Jens Groenning looks back on 2010.... but such a pity about that net loss of $9.2m.
(UACC bleeds in a crippling market)
“At the moment investors are sceptical about investing in dry bulk and they have reason because many stocks are trading at 60 to 50% below their issue price, however, shipping is a cyclical industry, there were ups and downs between 2005 and 2007 and we enjoyed some great markets which today are not so good but that does not mean that it will be like that forever,”
George Karageorgiou is looking to raise capital to double the size of the Globus Maritime fleet.
Einar Lange currently an owner without ships is looking to buy...lets just hope its the right sort of steel rather than the stuff on the right.
(Einar Lange readies for a comeback)
“The interests of our shareholders and management remain fully aligned. If shareholders do well, so does management and vice versa.”
Herbjorn Hansson picks another block of shares in Nordic American Tanker Shipping to lift the equity remuneration of his Scandic American Shipping company to more than $20m at current share price levels.
(NAT chief sees shares boost slow)
“At this time it is expected the effects of the Eastern Japan earthquake will be limited, but circumstances such as trends relating to harm caused by rumours require continued vigilance,”
K Line seems as worried about what people are saving as the physical devastation.
“Oil prices have risen sharply so far this year, and offshore activity is increasing globally. This means that there are great expectations concerning the market, both over the next few months and a long term basis.”
“We do a lot of business in Scandinavia, have broker support there, use the Norwegian Marine Insurance Plan, we want to have claims handlers in Oslo and we are Skuld with a very Nordic profile,”
Bernt Hellman is shocked to find that Skuld’s syndicate 1897 is not Nordic enough. But maybe he thought Skuld had something to do with Norse mythology when we all know she is a manga goddess who recharges her powers with ice cream.
(Skuld’s Syndicate 1897 ‘not Nordic enough’ for Cefor)
"People have just gotten heavier."
Bad news for passenger ship owners as the US Coast Guard’s Lisa Novak warns that the calculations on the average weight of human cargo have been raised by 15%. Fares may rise as ferries will be able to carry fewer passengers.
"One of the greatest projects of the century"
"It has been a long and winding road but it feels good to be there."
Jan Erik Tveteraas is pleased to have picked up $365m from a Sevan Drilling IPO but it is a long way off the initial target of $600m.
