Therap accepted, but bankers blamed by Nobu Su, as 23 of his companies file forChapter 11 bankruptcy.
“Bankruptcyis not a possibility that is merely remote or theoretical, and has beenemployed by other shipping companies in the last few years.”
USlawyer, Marc Matthews, who is acting for Geden, lays it on the line to a federaljudge.
“Wehave always had strong support from our shareholder and we expect this tocontinue.”
ButGeden chief executive, Tugrul Tokgoz, appears to take a rather different view ashe banks on the continued support of a billionaire backer.
(Cracksappear in Geden Holdings' restructuring moves)
“Ifwe would be in the stock market right now things would be much different. Yes,we missed the chance.”
Tokgozagain. This time on what might have been.
(Industrialinvestor injection boosts Turkish owned fleet)
“GSDMarin is definitely not a short term investor or an asset player. We want tostay in this business for a long period and we want to operate our own fleet,because, as GSD group, we really intend to diversify our business and shippinghas been selected as the new strong arm of our group.”
ButMurat Gezgin, chief executive of the latest entrant to the Turkish shippingscene, appears to have no such worries.
('Financepedigree' underpins Marin's entry into shipowning)
Is NegmarDenizilik’s Mehmet Koc making some sort of comparison about hanging on toships and wives?
(NewcomerNegmar Denizilik sets its sights on gas market)
“Rightnow we can’t know what caused this structural failure. The causation will lieeither in design, construction or operational factors — or a combination ofthese.”
Allbases covered then as the experience and expertise of Lloyd’s Register’s TomBoardley shines through.
(Expertspuzzled over loss in 'relatively calm seas')
“Newbuildingprices do appear to be at or near the bottom, whereas the prices of modernsecondhand ships are, in my view, significantly higher than can be justified bymarket conditions.....Economic benefits of fuel-efficient 'eco' newbuildingshave been and are being over played.....and one should never forget that lowcapital cost will frequently be able to trump superior voyage economics.”
PeterStokes of Lazards compensates for being insufficiently negative in the past byrevealing his most optimistic prognosis is of an “ongoing contained depression.”
(BungledQE exit could 'burn out' ship values)
“Oneday, perhaps Greek owners might enjoy a share of the boxship market that is asbig as their market share is of the bulker and tanker fleets today.”
ApostolosPoulovassilis of Lloyd’s Register anticipates a changing Greek market, but Seasure’sRichard Rivlin takes a different view below.
“TheGreeks are experts at reading the signs of when and what to invest in and haveneeded to expand from the more traditional tanker and bulk markets. However, Iwould like to suggest that by 2030 they might be bigger in gas than inboxships.”
(Greekfleet set to continue growing for next 20 years)
“Ifeel the large supramaxes are gaining market share relative to the othersegments and this market has been performing well compared to the others.”
HermanBillung of capesize and panamax owner Golden Ocean eyes a rather smaller shipsector.
(GoldenOcean Group eyes expansion in supramax segment)
“Weare waiting for the turnaround. I think everyone expects it in the next fiveyears.”
(FormerKG bosses to raise funding for niche market)
I'mgoing to ignore the message."
Seemsthat Wilbur Ross is not just a contrarian in business but even with fire alarms.
