Hew Crooks went swimming against the current one February day in London when he tried to convince his audience that consolidation is overrated.
Crooks was recounting how a New York investor had reacted recently to his 15-ship company, Ridgebury Tankers.
“I finished one presentation and this hedge-fund analyst sort of looked at me, sniffed and said: ‘But you are subscale. How do you expect to compete?’”
Crooks’ thesis is that in most respects, a Ridgebury-sized owner can go head to head with a bigger competitor.
