A get real warning from US lawyer, Charlie Papavizas, who notes that there can be a downside to cosying up to Uncle Sam.
(If you want to get into the Jones Act game, you’ve got to embrace Uncle Sam)
“Fundamentally, that dog won’t hunt in the US Congress, and they should be smart enough to know that. But the people who are against the export of crude oil have somehow decided that a good strategy would be to try to put a poison pill into this discussion by saying, ‘We will acquiesce to the export of crude oil if you will give us relief on the Jones Act’.”
And another warning, this time from Tom Allegretti as American Maritime Partnership defends the Jones Act.
(Jones Act in crosshairs of 'influential' US refining business)
"There have been some real disasters in the past few years. If someone can truly explain to me why OSG went bankrupt, I'd be happy to know. Investors lost money and they're cautious.”
Euronav chief executive, Paddy Rodgers, remains circumspect about an IPO.
“Nobody should be sending him a bottle of champagne. They screwed up and nobody’s happy with the company right now.”
A note of investor disillusionment with Robert Bugbee and Scorpio.
(Mixed reception to Scorpio Bulkers’ $150m equity issue)
Seems that Torm CFO, Mads Peter Zacho, is unworried despite a technical breach of a provision in loan facilities.
(Tactics in play in Torm talks)
“We see in the shipping market that volumes of oil being transported are increasing. This increases the worldwide demand for suezmax tankers, which is positive for our business.”
Lower oil prices are not just a benefit at the fuel pump notes Herbjorn Hansson of Nordic American Tankers
“We have the platform, we now have to build the base. We have a lot of work to do.”
Richard Fulford-Smith defines the task ahead as he prepares for the New Year lauch of Affinity his new shipbroking outfit.
(New broker force Affinity rises from merger dust)
“If you landed enough balls in this corridor of uncertainty you would eventually get your man, forcing the batsman into making a decision which would lead to his dismissal.”
Seems that shipbroker, Galbraiths, is concerned that players are pitching a few bouncers in the sale and purchase game.
“We have a very focused board that wants to see disputes resolved quickly. At the end of the day, those defence cases are the members’ money, whether they’re actually bringing a claim or defending a claim, it’s money out of their back pocket in one sense, as opposed to an insured amount.”
Value for money is one of the key objective of the UK Defence Club according to manager Daniel Evans.
