“I’d be probably the last person who would leave Greece.”
Greece has been in the news for all the wrong reasons but Panos Laskaridis knows where home is. And if he turns out to be the last man standing lets hope he turns out the lights.
(Greeks rush to register companies in Cyprus)
“The bank market generally for financing bulk ships is pretty terrible. I don’t think it’s possible to get financing for bulk ships under any circumstances.”
Scorpio Bulkers finance chief, Hugh Baker, found it easy to get the money together for 76 newbuildings but it is proving a struggle to get the number up to 80.
(Scorpio’s ugly shares sale looks a little prettier)
“With a significant amount of the downward pressure having been alleviated - as earnings are now at much healthier levels and many in the market are starting to hold the belief that we have passed the worst of the storm - the amount of buyer looking to buy at bargain levels has not only risen but has also started to get itchy fingers and become a bit more trigger-happy.”
Demand is picking up for dry cargo tonnage according to George Lazaridis of Allied Shipbroking.
“We have quite good cash flow coming forward the next three or four years and that gives us the security to be a bit more speculative.”
Evangelos Pistiolis sees his growing fleet as opening the door to spot market exposure.
(Pistiolis set to take on spot exposure as fleet grows)
“As DSME’s main shareholder, KDB is responsible for minimising damage to investors and should work hard to normalise the shipbuilder’s operations.”
South Korean politician, Hong-moon Pyo, holds Korea Development Bank responsible for sorting out problems Daewoo Shipbuilding & Marine Engineering is facing from low priced offshore contracts.
(Korea’s top yards bleed $3bn in combined losses)
It’s time to stop history repeating according to Yves Vandenborn of the Standard Club.
(Shocking liquefaction casualties must be stemmed by rigorous cargo checks)
“If the ban holds we believe this could have a positive effect on the tanker market, as the ban would artificially reduce local supply off West Africa and decrease trading efficiencies, effectively lowering the overall supply potential of the fleet.”
Nigeria bank on at least 113 tankers could be beneficial according to JP Morgan’s shipping analyst Noah Parquette.
“You see a lot of vessels coming offline in the North Sea, so I think you’ll see that region stabilise sooner than others. Now, it is heading towards its winter months, so that will throw a little bit of doubt into the stability of those rates but I think as we come into 2016 out of 2015, we’ll see a stronger North Sea market.”
There is hope ahead for the offshore market according to GulfMark’s Quintin Kneen.
(GulfMark says rates ‘confirm’ North Sea layups are working)
“First, we agreed there was a problem; second, we agreed to work to alleviate the part of the problem falling under our responsibility. These were major shifts for the industry and a leap beyond the usual denial of a problem existing or, if one was reluctantly agreed, to the prohibitive cost in taking any ameliorative actions.”
A process for cleaning up the seas described by former Chamber of Shipping of America chief Joe Cox.
(Cumulative solutions beat ‘one-shot’ environmental shipping regulation)
“We helped force people to look at exposures and improving security for ships and crews, which has been a massive success for the shipping industry.”
Action by the Joint War Committee has contributed to making ships less vulnerable to pirate predations according to chairman, Andrew Moulton.
(Safer seas bring improved stability to war-risks cover)
“We have been doing eight quarterly reports a year. It just didn’t make sense. There will be a significant saving and reduction in administrative costs.”
Lawrence Aspinall of the Shipowners’ Club looks forward to a halving of the quarterly reporting requirement but will that require half the accountants?
(Shipowners’ Club changes traditional financial year)
Not a shipowner, a seafarer or Jack London but artist Benedetto Pietromarchi who went to sea on a d’Amico bulk carrier.
(D’Amico’s ‘Owner’s Cabin’ art project lifts lid on life at sea)