ICAP’sJames Leake warns there are well over a billion brutal realists out there withno time for any of that romance of the seas tosh.
(Makinga call on the market cycle)
“I was an optimist until halfway through thisseminar today. When I heard Gao [ Gao Zefeng of China Exim bank] confirm whatthe Chinese want to do, there is no hope for any price increase of ships,newbuildings or anything. We will see low prices for the next two or threeyears.”
Maybenext time DVB’s Dagfinn Lunde goes to aship finance bash he should take a pocketful of Prozac.
(Fearsmount as China Exim gets ready to swell shipping portfolio)
“For those of us as CFOs and chief executivesof public companies, we live for shareholder value and choosing Chapter 11 as arestructuring option is more significant than choosing an item off a menu.”
Don’twe all? Can’t be just Jeffrey Pribor and the like who have caught on thatshareholder value is the meaning of life.
(Pribordescribes Chapter 11 filing as grisly decision)
“MarAdhas failed in its responsibility to distinguish between actual US citizencompanies and entities masquerading as US citizens for the purpose of conveyingthe benefits of MSP to foreign companies.”
Toughbeing a US president. After moving to regularise the status of Mexican illegals BarackObama finds he’s got problems with Philip Shapiro over a gang ofScandinavian shipowners.
(LibertyGlobal vents anger at US government)
TimeTord Nilson realised that the Swedish Club and other protection and indemnitymutuals have far too many underwriters and claims handlers when what is neededthis year is financial wizards.
“Letme put it this way, we have not lost anyone that we are sorry to lose.”
Soundsas if Espen Klitzing feels there is not room in the Umoe lifeboat for everyone.
(Umoeto sell lifeboat arm Schat-Harding)
“Weare fascinated by some of the new designs that have been put on the table andwe will closely watch whether the new ships hold what they promise in terms ofbeing more efficient.”
Appearsthat Carl Petter Finne is sufficiently seized with handysized and supramaxbulkers for Klaveness Marine to go head to head with Torvald Klaveness.
(KlavenessMarine set to make a move into dry bulk)
“Coscomanagement has never intended to rely on government help and take life easy.”
Seemslike there is an outbreak of entrepreneurial independence in Beijing according to Cosco’s GuoHuawei.
(Nohelp in sight for listed China Cosco Holdings)
“The offer represents a significant step byPetronas to take MISC private and obtain full control of the company.”
“Wesincerely regret the accidental discharge of swimming pool water that occurredin 2011, and subsequently we took measures to prevent this from happeningagain."
GuessPrincess Cruises has particularly filthy passengers who turn pool water into amarine hazard.
