Butis Fearnley Offshore Supply chief Tor Allen Widing prepared to pursue his recruitmentpolicy to its logical conclusion and fire himself as an under educated formertelex boy.
(Fearnleycelebrates 40th anniversary in style)
“Ifthe terms allowing you to stay are diametrically opposed to the way you feelthe company should be run, that line between leaving and staying becomesblurred. There’s not much difference.”
Formercolleague Paul Leand suggests there is little difference between Morten Arntzenjumping or being pushed from the hot seat at OSG....well at least the result isthe same.
(Clashover strategy 'triggers' Arntzen exit)
“Thereare big reserves in the fleet if you compare it to book values when we applythese rules. It is not possible to evaluate the company based on steel values.”
HerbjornHansson brushes aside the little inconvenience that the book value of theNordic American Tankers fleet is little more than half the market value....atleast on the figures from a valuation website run by a London shipbroker.
(NATwrites down tanker's value by $12m)
“Thefirst couple of years we did better than the goals but we are, of course,affected by the market developments. We have had to write down the values ofour ships in a big way.”
Anadmission from Andreas Sohmen-Pao that BW group’s aim of doubling net assetvalue every five years has slipped.
(BWGas declares option to buy VLGC at bargain price)
“Thefuture market is not showing any sign of recovery and Daeyang is running out ofcash.”
A clearexplanation of why the South Korean shipping company is closing down from vicepresident KH Park
Butwhat we really want to know is does political support trump court and arbitration rulings?
(Coaltrader turns to politics in COA dispute)
“Zimhas implemented a comprehensive efficiency plan which has significantlyimproved its results in the past two years.”
Whenit comes to getting the right result efficiency beats inefficiency every day ofthe week.
“Weare concentrating on fuel-efficient ships.”
GoodearthMaritime’s V Ganapathi Rao has a better strategy than focusing on inefficienttonnage.
(Goodearthplans green newbuildings)
“Atpresent, fiscal incentives will only subsidise inefficiency.”
ButHrishikesh Narasimhanof the Larsen & Toubro Shipyard seems to be suggestingthey do things differently in India.
(L&Tcalls for efficiency at Indian yards)
“Thisfirm has been turbocharged over the last four years.”
Soundsas if Jeffrey Pribor will be stepping on the gas as he takes over the shippingportfolio at Jefferies.
(Priborswaps shipowner's chair for banker's hot seat)
“We still have no official understanding ofwhat the underlying causes were with respect to an accident that never reallyshould have happened.”
InternationalChamber of Shipping (ICS) chairman Masamichi Morooka takes aim at Italy overdelay in publishing the result of the Costa Concordia casualty.
(Flags under fire over reporting)
“We are talking very openly with the clubsabout retaining low severity high frequency losses to avoid dollar swapping.”
Maersk’sdeveloping P&I strategy explained by Lars Henneberg.
(Maerskjacks up P&I deductibles)
Seemsthat some of the P&I clubs are lost for a rather vital word in the run upto the renewal.
(Clubstake tough line on P&I renewals
“Theowner is very upset with the crew, who have behaved very badly. They were fullypaid.”
MaybeSilvia Shipmanagement should be reporting a badly treated owner to the HumanRights Commission of Pakistan?
