What we want to know from Jonathan Beigle is whether Manning & Napier enjoys being a saviour or sadist most.
(Industry bet sees Manning & Napier invest in seven bulker companies)
“The world is looking better, and the right time to buy into shipping is when there is blood on the street. That tells you institutions are buying into the story and think that bottoms are being reached.”
Spilt blood and the return of “buy and hold” investors to the shipping market encourages Scorpio Tankers president Robert Bugbee.
(Public equity makes industry comeback)
“We also pay tax. We might not like paying it but, when the tax arrangements of large multinationals are being called into question, let’s draw attention to the fact that the UK maritime services sector provides £8.5bn in tax receipts to the UK exchequer.”
As an accountant Helen Deeble should know, but seems a safe bet that P&O Ferries is a lot more familiar with the idea of paying tax than many international trading shipowners. And how much of that £8.5bn came from services to shipping?
(Tax rate earns shipping friends within the UK government)
“When we did a deal we hoped to share a profit with the bank but you don’t need a calculator to find out that did not happen.”
An explanation from Brovig chairman Geir B Larsen on why the company is bidding farewell to a couple of chemical carriers.
(Two Brovig products tankers set to leave the fleet)
And who’s arguing with the view of Panagis Antonelos of AM Nomikos.
(AM Nomikos primed to purchase more vessels)
“We have seen nothing revolutionary in what has been presented so far. We don’t believe that there will be a two-tier market as a result of this.”
Marinvest’s Patrik Mossberg is sceptical of the benefits that new eco-friendly ship designs deliver.
(Nothing new in eco-ship designs, insists Marinvest)
“We are increasing confident about the positive dynamics in the products tanker sector and increasingly confident about the superior returns eco vessels provide and we are increasingly confident with increased environmental regulations and awareness our customers will want these vessels.”
But a different view from Robert Bugbee who has just placed a $120m four vessel bet that he is right.
“We are concerned that Hyundai Heavy Industries backlog, at 1.7 years, is now running quite low, which might force it to engage in a price war with its peers at the expense of future margins.”
Sanjeev Rana explains why the shipbuilder has been downgraded from a buy to a hold by Deutsche Securities.
“We are not able to support the terms presented. There is a price at which we would have written but, after a long process, felt we could not support the terms.”
So it is not just shipowners who are unhappy about the terms for the P&I clubs reinsurance renewal. David Croom-Johnson reveals Aegis wants more to risk exposure to further big claims.
(Aegis rejects reinsurance deal for P&I renewal)
“They have been just amazing and have shown very strong character. Apart from a couple of the crew they feel fine so far but in the longer term, we just don’t know.”
Hung by a leg, ear sliced off, whipped and semi-starved. Roy Paul of the Maritime Piracy Humanitarian Response Programme reveals the tribulations faced by the crew of the Iceberg 1.
“That rig is scrap. We don’t think it has any real damage to it. You can’t damage scrap.”
Crowley Maritime advances an interesting concept that appears to have potential for legal debate.
