Christoph Toepfer of Borealis Maritime confirms that a tribe of barbarians with capacious pockets have accumulated rather a lot of loot. But might it be more lucrative to be a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money?
(KKR & Co emerges as backer of Borealis)
“We do not think it is particularly positive. The growth of speculative and shortsighted investments we now see in many shipping segments maybe is motivated more by a lack of other investment objectives than a realistic analysis of the freight markets.”
Chairman, Hans Olav Lindal, wants to expand the fleet of Bergen’s Viken Shipping but is not so keen on owners without contract coverage sailing in the same direction.
(Viken boss voices anger at speculative newbuildings)
“We do not engage in spot business. We only build ships for long-term charters.”
And South Korean gas carrier operator KSS Line indicates a $78m VLGC order is not a speculative punt.
(KSS Line goes back to Hyundai Heavy for VLGC)
“We are enjoying the fantastic rates in the market for medium size and large LPG carrriers.”
Veteran Norwegian shipowner Paal Caspersen on the state of business. Good to hear that at least some are having a gas.
(Record-high LPG rates have Sjoinvest smiling)
“We stand ready to provide new loans but there must also be appetite from the right investors for them. We want to expand our credit portfolio without diminishing its quality.”
Maria Moraitou of the National Bank of Greece has faith in the future of ship finance.
(Greek banks eye market comeback)
An encounter with French marines who destroyed 18 million bananas shakes Holy House Shipping managing director, Mats Ruhne. Just imagine what they might have done if the drug swoop on the reefer Stina had been successful!
(Holy House sues France over failed drugs bust on reefer)
"Profit margins are getting tighter and companies are having to work harder for business.”
Or even work harder to even remain in business. Ian Millen, of Dryad Maritime warns there could be trouble ahead for companies providing armed guards.
(Private maritime security outfits become victims of own success)
“For the period under review the unfavourable operating environment for shipowners persisted amid the unsatisfying performance of the global shipping market.”
Struggling Chinese shipbuilder Rongsheng Heavy Industries blames postponed deliveries for a dismal first half result.
“We’ve got to sort these things out. I mean, these ships were redelivered in 2011.”
Icon Capital boss, Tobias Backer, is exasperated over the way a charter claim and counterclaim with Zim is playing out.
(Zim ruling costs Icon $7m on 2009 restructuring deal)
“Lloyd’s Register North America has made it clear that it does not believe it misrepresented anything about the status of the vessel, to which it had limited access during the construction process — a process that was hamstrung by the dispute that arose between shipowner and shipbuilder before the vessel was completed.”
The classification society is confident it can win a legal battle over alleged fraud and misrepresentation relating to construction of a cruiseship.
(Lloyd’s Register confident of victory in Pearl Seas legal challenge)
Anne Penman Sweet may have a brush in her hand but it seems she is not in the business of applying antifouling coating to elderly bulkers.
