“It does exactly what it says on the tin. That is the Swedish Club: it provides all-weather and all-circumstances insurance cover with the minimum of fuss and maximum of effectiveness.”
Demetri Dragazis of the Latsis group looks for the same qualities in marine insurance as in paint.
(Swedish Club celebrated for doing ‘exactly what it says on the tin’)
“It is unlikely I will see another hard market before I retire.”
Underwriter Richard Tomlin is 53 so he is reckoning on his hull colleagues at Lloyd’s facing some long term pain.
(Lloyd’s marine chief will never enjoy a hard hull market)
“This decision is the best memorial service for the souls of the seven lost seamen, considering that their families never received any compensation.”
Justice at last for victims of a substandard ship tragedy according to Greek lawyer, George Trantalides.
(Owners jailed over 1998 Agios Panteleimon loss)
“With asset prices currently priced very competitively, for those owners who have the platform to operate vessels, there are some attractive deals to be had. AMP continues to monitor the market, and while we are not actively inspecting, we are open to good opportunities to expand our fleet.”
Asia Maritime Pacific chief executive, Mark Young, is not only looking for good buys but interested in launching a handysize pool.
(Chief executive predicts struggling times ahead for handysize wannabes)
Euronav’s Paddy Rodgers has not forgotten that tomorrow is a brand new day.
(Rodgers says access to capital not rates is driving VLCC prices)
“Sentiment in the dry bulk market has started to stir, with several making claims that we are on the brink of a shift that could see secondhand asset prices rise.”
Athens based Allied Shipbroking sees revived buyer interest in bulk carriers.
(Laliotis back in dry game with Japanese bulker buy)
“You could term a lot of people at the moment as reluctant spot traders. They are not trading spot as they want to be spot traders. They are trading spot because they don’t like the period numbers. What we are actually offering is a vehicle by which they can actually access the spot market and do better than they would on their own.”
Global Maritime Investments founder Steve Rodley is putting money where his mouth and investing in panamax bulk carriers.
(New GMI panamax pool generating ‘huge interest’)
“We’re the new kid on the block, though I don’t know if I look that way with white hair. We have to pay our dues to some extent. We almost have to step out longer to take in ships. We have to hope to make enough at the front end to cover the back end.”
Penfield Marine is growing helped by the experience of co-founder, Tim Brennan.
“IACS’s pride was at stake so it was a necessary action.”
Outgoing IACS chairman Philippe Donche-Gay says the classification societies had to act fast on the MOL Comfort. But surely concern about the risk to life and property more than pride drove the reaction.
