We take a look at what was said in the market in the past week.
“There always has to be some reason and some logic before I post something on Facebook. I only use the site for finding new friends but I am a businessman and also a single guy, so if I am in a picture with one girl, and then a picture with another girl, this can cause unnecessary issues for me in many ways.”
Greek playboy and sometime shipowner Harry Vafias reveals his social side...to everyone!
(Vafias takes stealth approach to social network.)
“We believe it has become difficult to value Drys in light of its recent move. Even if Drys overturns the purchase the $120m deposits are likely lost.”
A research note from Morgan Stanley as George Economou’s DryShips splashes out $770m on 12 tanker newbuildings...which it insists are not the dozen Economou’s Cardiff Marine has on order.
“Do people really think that Samsung had all these delivery berths in 2011 open? That they had ordered steel and were just waiting for an order?”
One tanker veteran’s take on DryShips’ splurge. Well, it’s just about possible, no?
(Doubt over tanker move and scepticism over newbuildings.)
“It is only two years ago that they learnt it the hard way, when the spot market collapsed. Now their charter deals are at relatively low levels and yet they want cuts.”
A supramax owner as Korea Line Corp is said to be renegotiating a raft of its charter contracts.
(KLC asks owners for charter talks.)
“The last thing you want to do is try to renegotiate with Japan. Then it takes 40 years to rebuild the relationship.”
Another source reckons KLC could be saying sayonara to some of its business contacts.
(KLC asks owners for charter talks.)
“Just as if we were running a 100-meter sprint (or perhaps a 110-meter hurdle would be more like it), we managed to spring from a crouching position into a flying start.”
MOL president Koichi Muto just misses the opportunity to throw in a ‘hidden dragon’ analogy as he looks forward to a combative 2011.
“By the Chinese zodiac, 2011 is the Year of the Hare. So let us prick up long ears like a hare and collect and analyze as much valuable information as possible so that we can detect signs of change and respond like the hare with swift decision-making and nimble action.”
Muto is hoping to keep MOL’s tail ahead of the chasing pack in the year to come.
“We always make conservative moves but we want to try this ship out first.”
George Stephanou of Greek bulker owner Bright Navigation which has emerged as the buyer of Attica’s passenger vessel Superferry II.
(Bright Navigation raises eyebrows with altruistic ferry buy.)
“There must be a story behind the story in both these cases.”
A source as a pair of storied supramax bulker newbuildings swap hands as resales at mind-bogglingly low prices.
(Supramax resale prices ‘confusing’.)
“I handled that pretty damned well.”
Larry Pimentel, president and CEO of RCL’s Azamara Club Cruises, on a previous life at the helm of Cunard when the flagship Queen Mary 2 was to be built in France.
(Heading for a new destination.)
“I just got a message from the master of the Azamara Journey where the crew got a score of 297 out of 300 for staff friendliness and efficiency. It’s an extraordinary number. Happy crew, happy guests. There is a correlation between the two.”
Pimentel reckons staff also have a bit of a holiday during cruise time.
(Attention to detail and international crew ensures satisfied customers.)
“I have come to realise that setbacks are part of life. For some of us they are more severe. But I think the true character of people is in them taking the most complicated of setbacks and somehow recreating themselves again and again, to enjoy what they do and contribute by offering something positive to the community they are serving.”
Pimental puts in an early contender for ‘Motivational Maritime Speech of the Year’.
(Fleet growth in mind but not until the numbers make sense.)
“When you come to the playing field you have to understand the rules of engagement.”
Pimentel on his many president and CEO roles over the years.
(Focus on providing substance rather than ships themselves.)
“I’m not going to comment on that. We’d just as soon fly under the radar.”
Rod Jones, CEO of Canada Steamship Lines, teases us with news of more firm orders...but he leaves most of the beans in the can.
(Canada Steamship linked to fresh deal.)
“I used to go and see Turkish owners but when they said their current broker was Omni my heart used to sink. It was difficult to be in opposition to Omni but as the saying goes, ‘if you can’t beat them, join them’.”
Joe Balls who has recently joined Omni at its London office but doesn’t remember being the competition with much fondness.
(Omni targets Dubai for next outpost.)
“We had no radio, no telephones, no gyrocompass. I was owner, captain and engineer. Today everything is easy. Shipping people have become lazy people.”
Abdul Saheb Mohd Saeed Al Ali, proprietor of Middle Eastern owner Whitesea Shipping, runs the risk of ostracising his own crew.
(An old sea dog who worked his way up from the engine room.)
“Hopefully we can seal the deal before the Lunar New Year in February.”
Cheng Xuhui, boss of Taizhou Catic Shipbuilding Heavy Industries, on mooted plans to merge with another compatriot yard.
