“I think they just got a really good deal and maybe Topaz is expecting to have a couple of slow years for these ships once they are delivered. That’s debatable but the last thing we need is more ships in any offshore segment.”
A broker questions the wisdom of another order in the flat-lining offshore sector.
Topaz takes long-term bet with Norway subsea order
“If another 40 vessels go into layup and if part of those are anchor handlers, then we may get closer to a more balanced market.”
Havila’s Njaal Saevik says the industry is still a long way from equilibrium, despite substantial layups already.
Havila vows a rates jump will not awake its layups
“No one is able or willing to buy at the prices owners are willing to sell at. Of course, if someone goes into bankruptcy or their banks force them to sell, that picture can change. But right now, it is impossible.”
And owners can’t even sell their way out of the crisis, Saevik explains.
‘Impossible to find willing buyers and willing sellers’
“All company directors will work together as one and do all we can to rebuild the business as soon as possible.”
Daiichi pledges to make a comeback after seeking court rehabilitation.
“The expected upturn in the market this autumn never came. Instead rates fell and we could no longer explain to financial institutions how we would recover.”
Daiichi chief Masakazu Yakushiji tells a Tokyo meeting why the company admitted temporary defeat.
Time and money run out for Daiichi
"Times are very difficult and the ability to fix out vessels on period charters does not exist. Owners in this present market are almost forced to employ their vessels on a very short term basis."
H. Vogemann boss Jens Arndt explains the rationale behind its new pool venture.
“We will underwrite good ships.”
Hellenic Hull Mutual managing director Ilias Tsakiris reveals his masterplan for its new insurance tie-up. Nobody can argue with that.
US-Greek insurance tie-up aims for 2,000-vessel fleet
“Feedback from several investors is that they are considering picking up stock now, although fear falling knife.”
Analysts from DNB Markets say potential buyers of LNG stocks have mixed feelings.
“There are no grounds for the charge, either legally and in essence. The court will validate his innocence.”
Victor Restis’s lawyer Michalis Dimitrakopoulos is confident his man will be acquitted in bank loan trial.
Restis set to face trial over bank loans
“It really shows the commitment of the family behind the company and that we are there to find innovative ways to ensure that Danaos can really exploit all the market cycles and can exploit the soft patch that we have at this moment, in order to position ourselves for the next upturn.”
Like Sister Sledge, John Coustas puts his faith in family. He’s got all his sister(ship)s with him.
Danaos seeks partners to develop Coustas venture
“Who guessed ships would get this big? There is huge industry concern about how we would cope with a casualty involving a modern boxship.”
Elinor Dautlich, partner at Holman Fenwick Willan, reflects on how the trend for more massive ships could pose a huge problem.
“TradeWinds should be essential reading for everyone in shipping. Can it really only be 25 years old? A good read obviously makes the time fly.”
LR's Tom Boardley on a certain milestone achieved by everyone’s favourite shipping news provider. We love you too, Tom.
