“This lack of a short-term plan for these vessels will lead to mayhem.”
“Everybody is working around the clock to secure the funds for this international operation to continue.”
But Hanjin’s lawyer, Ilana Volkov, assures TradeWinds’ readers that every effort is being made to improve the chaotic situation.
“HP faces the prospect of loss of customers, business reputation, market share and other irreparable harm. This is especially the case because the potential for any recovery of damages from the foreign debtor, who is currently insolvent, may be remote at best.”
Hewlett-Packard’s lawyers at Pachulski, Stang, Ziehl & Jones do not sound at all happy.
Bankruptcy filing has long way to go to rein in mayhem
“Are there 10 ships arrested in China? We want to know too and we are trying to find out, but I would be surprised.”
Chris Grieveson of Norway’s Wikborg Rein. Nobody seems to know what’s going on. Notice that we’re quoting a lot of lawyers here, which can only mean trouble.
“In general, we are reluctant to arrest ships in China because the court process is unpredictable and it can take years.”
A western banker sums up uncertainty over Chinese arrests.
“In that case we will be forced to pile on, too.”
But then admits the bank would have to join in should others start the process.
China arrest sceptics may be forced to 'pile on'
“We are comparing what the new Hanjin will give us versus what we can get from recharter opportunities.”
Seaspan chief executive Gerry Wang weights up his options.
“Everybody will be trying to look for alternatives for the ships. But then you get the news that Hanjin will get a cash-injection, so you would like to keep the charters going - it’s too close to make any call.”
Decisions, decisions for one European owner.
Container sector awaits its fate
“We don’t want this company to just die out.”
SCI managing director BB Sinha on Irano Hind, which has had more comebacks than Lazarus.
Owners revive Irano Hind after years of uncertainty
“Bull markets and bear markets will still present opportunities, and percentage moves will be noticeable. The only difference is that unless there is huge Chinese construction stimulus, $100 iron ore, will, like England’s World Cup glory, be sadly consigned to the past.”
There’s no need to bring up 50 years of hurt, Ed Hutton.
The march of the bull bucks forecasts
“I can only speculate that he was not satisfied with the returns and the future prospects in the industry.”
When Niels Stolt-Nielsen bought tankers from Johan Odvar Odfjell, he wasn’t too concerned about asking anything further.
Stolt-Nielsen confident of absorbing Jo Tankers
“The total return for investors once the transaction is completed is expected to be as much as 200%.”
MPC on its eight-ship disposal deal. Now that’s an investment.
