Andrew Bardot of the International Group of P&I clubs explains why it is not a good idea to be over a barrel in certain parts of the world.
(Saudi Aramco wins $135m club deal for OSV damages)
“Greek shipowners should participate in the public burden according to their potential.”
What a shocking suggesting. Clearly Thodoris Dritsas, Alexis Tsipras and the rest of the Syriza gang are dangerous radicals.
(Syriza wants more cash from Greek shipowners)
“An owner should be sitting in the driving seat and not be giving away the key to the car.”
No backseat driving for Bocimar’s Benoit Timmermans then.
(Timmermans lashes out at index-linked cape charters)
“The Antonis G Pappadakis was unreasonably forced by the government to remain within the port of Norfolk throughout the summer of 2013 with a full load of coal onboard, for over 170 days; wasting as an asset with her owner incurring significant daily losses, fees, expenses, and costs as a result.”
But if the behaviour of the US Coast Guard was “repugnant to the constitution” it was worse than that – an action with no legal justification.
(Pappadakis company tackles US government over bulker seizure)
“You need regulation but you need good regulation, easily implemented, which achieves the result intended and does not cause controversy. I feel passionate about good and timely regulation or, as I like to put it, ‘appropriate regulation’.”
Regulation without controversy seems a tall order but it is the platform of Andreas Chrysostomou as he bids to be the next secretary general of IMO.
(Chrysostomou launches ‘togetherness’ campaign)
Steve Beslity explains why he has taken on the chairmanship of Aon Marine at a time when weedier characters are taking it easy.
(Keeping owners ‘ahead of the market curve’)
“Private equity’s ownership in the industry is now a serious factor but financing from PE is an entirely different animal from that provided by banks. PE firms expect higher returns and a lucrative exit, usually in the form of a public offering.”
Sounds like Soo Cheon Lee is a banker with a distinct view on private equity.
(Navigating the next phase in shipfinance)
“We are very competitive against the yards in Singapore but we can’t fight the Chinese.”
Ahmad Zaki Abd Malik explains why Malaysia’s MHB shipyard needs high added value work
(Malaysian repair specialist sets steady course in tough market)
“Competition has become razor-sharp, pricing is of the essence.”
And Costis Frangoulis aims to turn maritime security into even more of a commodity.
(Middlemen enter fray as maritime security is steadily commoditised)
“This provision would outsource American jobs and American capability to foreign yards, and why would we want to do that?”
Another defence of the “antiquated” Jones Act from James Caponiti of US flag lobby group, American Maritime Congress.
“It’s like the floating lady where the magician takes the table away and she still remains lying there. It’s a bit of a magic trick. Rates should fall.”
Surely the point of the magic is that the lady does not fall so presumably the same should apply to charter rates.
