“Given the recent onset of this sharp reduction in commodity prices, we do not expect that any near-term improvement in oil prices will cause operators to alter much of what they are planning in 2015. We are preparing for an extended downturn until the environment changes in a sustainable way.”
Bad new or good news depending on whether you are a seller or a buyer from Tidewater chief executive Jeffrey Platt who is not figuring on oil prices recovering until the second half of 2016 or 2017.
(Tidewater braces itself for prolonged oil-price strife)
“Crude oil prices will increase. For the life span of the ship, there should be a good return on the investment. It will pay back.”
Stena Bulk chief, Erik Haanell, is however convinced that spending an extra $8m per vessel on a new generation of fuel efficient tankers still makes sense in the long run.
(Stena Bulk confident its fuel-efficient newbuilds will hold premium value)
“I think it’s going to be two tough years on the dry side. That being said, if we look back at it historically, when we’ve been the most pessimistic, we’ve all been proven wrong.
And pessimism from Peter Ritz of Ross Shipbrokers, who fortunately subscribes to the view that ‘hope is the last thing to die.’
(Specialist Greek broking boutique Ross upbeat and ready for action)
“This year looks very challenging. Right now we have more cargo than ships. We think this is the right position.”
Jens Ismar of Western Bulk looks to be in a rather more comfortable position than having more ships than cargo.
(Western Bulk sits comfortably with ‘more cargo than ships’)
“We know we will not go back to sail.”
Hamburg Bulk managing director, Jens von Husen, wants to go green but rules out canvas strung from a yard.
(Hamburg Bulk boss urges owners to get up to speed on new environmental issues)
Claus-Peter Offen sounds the death knell for limited partnership financing.
(Offen chases global capital with new team)
“Consolidation will happen in different formats and in different ways. It is the future of our industry.”
Sounds like an argument for Consolidated Capesizes Inc from Golden Ocean chief Herman Billung which has more of a ring than the rather prosaic Capesize Chartering.
(Operators in sights of new cape venture)
“There is a risk that some of those rules may (as currently drafted) cause a number of commodity trading houses, and indeed shipping companies, to fall into regulation as financial entities on the basis of their use of derivatives.
A warning from the Baltic Exchange’s Jeremy Penn that more regulation of the freight futures market will come at a cost.
(We must pull together to ensure new regulation is sensible from the outset)
“Do clubs from time think about what could happen in the market? Yes of course they do. But is anything specific going on? No.”
So idle thoughts rather than action on the P&I club merger front according to the UK Club’s Hugo Wynn-Williams.
(Britannia and UK merger talk sets P&I market ablaze)
“All our boards are committed to continuing to provide war risks, so long as there is member demand, but it is part of the P&I service ethos, rather than being a profit centre.”
The Combined Group of War Risks Associations is not what it once was but still has a future according to chairman, Stephen Rebair.
(P&I club trio cut rates for war risks)
“I remain of the view that the Turkish proceedings are vexatious and oppressive because they would infringe the contractual rights of the club.”
London High Court judge, Justice Teare, comes out for the P&I clubs ‘pay to be paid’ rule trumping direct action under Turkish law.
(Shipowners’ wins ‘pay to be paid’ ruling)
“The new name of the vessel reflects what it stands for: a new technological step in platform installation and decommissioning.”
And Pioneering Spirit is a lot less controversial than Pieter Schelte, an old name with a Nazi past.
“To serve from the soil to the table.”
The less than inspirational motto of Stena partner Golden Agri-Resources revealed by chairman Franky Widjaja. How does it compare to ‘Don't be evil,’ ‘Think different’ or ‘Just do it?’ Per mare ubique - Everwhere by sea - also looks to be up for grabs.
