A verbal brawl came out of nowhere at last week’s Marine Money Week conference in New York, when Ridgebury Tankers chief financial officer Hew Crooks took aim at the deal-making practices of investment bank the Maxim Group, as reported in detail by TradeWinds.
The back-and-forth between Crooks and Maxim shipping banker Larry Glassberg was fast and furious at times.
Crooks had solid data about Maxim client Top Ships losing 97% of its share value since March 2022 in a good market for its tankers, but he seemed to veer into hyperbole at one point when he said Top Ships’ original share price as a New York-listed company was effectively “$80trn”.
