We take a look at what was said in the market over the past week.
GNMTC’s lawyers lay it on the line in a row over VLCC payments allegedly involving Muammar Gadaffi’s son Hannibal. The elephant in the room?
Libyan firm goes after ‘payments’ in Gaddafi allegations
“The vessel prices are falling sharply. An alternative to buying DHT could be to purchase large tankers secondhand or as resales.”
John Fredriksen is not out of ideas if his bid for DHT fails.
“And they have a talented chartering boss, Stephen Eglin. He is well educated.”
Well he would say that, wouldn’t he? Fredriksen cheekily sings the praises of DHT’s former Frontline man.
“We need to do something about the bank-controlled companies on the stock exchanges.”
And the tycoon shows he’s all for the personal touch of the traditional shipowner.
DHT $475m bid satisfies need for Frontline tanker fleet renewal
“I don’t see any distressed sellers out there and I see some buyers. The last cycle saw far more sellers than buyers.”
Evercore’s Jonathan Chappell wonders if S&P opportunities are drying up.
Wall Street cuts tanker estimates further
“We can take heart that our industry remains firmly in the game, as there is no other way to manage the work required, particularly with global trade at the forefront of economic development. We clearly have a role in the future.”
Don’t tell Intermanager president Bjorn Jebsen about unmanned ships.
Seafarers can hold key to coping with challenges that lie ahead for shipping
“Some investors are thinking that if they don’t jump in now, they are going to lose the opportunity, but I personally don’t think that is the case.”
String of vessel charters bring premature hope to share prices
“At some stage when they have cut the price enough, people will buy them.”
Widing says there will always be a taker for unwanted completed newbuildings at the right price.
“A proper shipowner will never go in and complete those ships if they have been sitting there for two or three years, rusting away.”
But as a contrast, he doubts anyone in their right mind would try to complete a half-finished one.
Sizeable part of OSV orderbook ‘will not be delivered’
“I am quite convinced the shipping market generally, but [certainly] in Germany, will consolidate further… I don’t see why Vogemann should not, but it depends how attractive it is.”
Axel Steffen is not ruling out acquisitions.
H Vogemann builds on partnership strategy
“At the beginning, I was a little bit shocked how the banks behaved, but now I have quite some sympathy for what they are doing. Without support of the banks, to be honest, we wouldn’t be sitting here. Most of the shipowners wouldn’t exist. We have a hard job but they do also.”
Vogemann’s Markus Lange has sympathy for the devil.
Many owners ‘would no longer exist if not for the banks’
“The most urgent thing that needs to happen right now is the consolidation on the employment side.”
HSH’s Christian Nieswandt urges the tramp industry to get their heads and ships together.
