Notan industry worth making a career in then. Guess Dagfinn Lunde is looking for a quick exit...perhaps a move intohigh street banking?
(Awardwinner Lunde pulls no punches with gloomy market view)
“Whenthe market is on its knees, owners start ordering like there’s no tomorrow Andin a depressing number of cases they are right — thanks to the orders there isno tomorrow.”
IsClarkson Research president, Martin Stopford, suggesting the most usefulservice brokers could provide to the industry is axing their newbuildingdepartments.
(Stopford’sABCDE guide to overordering)
“Therehas been an enormous amount of focus and interest by investors in the crudespace, particularly for VLCC-focused companies.”
Banker, Mark Friedman, may be more optimistic... but not sure that peering into thetanks is a good way to spot a trend.
(Blitzof crude deals verifies investor desire to get dirty)
“Tobe honest, if an offshore shipowner cannot make a profit in this market today,then I think I would have to question their business model.”
Swedbankanalyst, Stig Erik Kyrkjeeide, appears to be suggesting a favourable supplydemand balance is turning a stake in the offshore support business into alicence to print money.
(Offshoresees demand running ahead of supply)
“Weare quite sure the market will be pretty good during the summer but we areuncertain whether it will be really good or not.”
Buta nuanced view from Havila Shipping’s finance chief Arne Johan Dale.
(Havilathinks new ships may put pressure on North Sea spot)
Acall for a focus on costs from Jean Cahuzac of Subsea 7. Lets hope that fits inwith the declared corporate strategy of striving for excellence to achievesuperior business results.
(Subsea7 chief calls for an end to ‘gold plated’ options)
“Governments control alliances. Alliances donot control governments.”
Alesson for the P3 liner partnership on who really calls the shots from FederalMaritime Commission’s Richard Lidinsky.
(WhyCommissioner Lidinsky voted ‘no’ to the P3 Network...)
“While the three largest carriers will becollaborating operationally, these carriers will continue to compete with eachother on pricing and cost."
Butfellow Federal Maritime Commissioner William Doyle explains why he was preparedto give the green light to the P3 alliance.
(...Andwhy Commissioner William Doyle voted ‘yes’)
“Notenough thought had been given to reaching all parts of the vessel — and therewere parts of the vessel out of reach on a ship [that is] much smaller than theTriple E [18,000-teu containerships].”
Atimely warning from Svitzer Salvage chief, Peter Pietka. And good to hear thathe has informed the top brass in the Esplanaden that big has its penalties.
(Svitzerboss Pietka appeals forreview of global salvage strategy)
“Itwas our turn to not have a big casualty.”
SwedishClub managing director Lars Rhodin breathes a sigh of relieve as he counts the$17m profit rung up last year.
(Swedishsurplus hits $17m as diversification pays off)
“TheJohn Fredriksen Mini-me Wannabe Award.”
WhatScorpio Tankers’ Robert Bugbee really wanted rather than a shabby $12.99 commodore’s hat according to Teekay chiefPeter Evensen.
(Bugbeewears the hat at CMA dinner)
ProskauerRose comes out fighting in a $450m legal battle with Overseas ShipholdingGroup.
“Thisis a legal malpractice and breach of fiduciary duty case against Proskauer. Thisis also the story of how one of Wall Street’s most pre-eminent law firmsbetrayed the trust of one of its oldest clients.”
Butthe OSG side also appears to be preparing for a no holds barred courtroom bout.
(Battlelines drawn as OSG tallies up Proskauer damages to $450m)
