“The problem is every management team thinks they are the smartest guys out there and have the special sauce, which we know is not true.”
Peter Georgiopoulos points out one of the most essential problems of failed M&A deals.
Stock prices and special sauce block tanker mergers
“If we put him on the trading desk anytime between when I came in 1993 and our sale in 2007, he would have been one of your best traders, if not the best. He was sharp as a tack.”
Former OMI chief executive Craig H Stevenson Jr pays tribute to founder Michael Klebanoff, who died at the age of 95.
OMI founder, longtime officer and director dies
"They also were underwriters of Euronav’s bridge financing that allowed them to buy the Maersk VLCC fleet. When that later got taken out by equity and bank debt, they made a killing.”
One veteran ship finance man recalls a historic moment at Pine River Capital, which recently parted ways with shipping specialist Andrew Garcia.
Gurus exit as hedge funds lick wounds
“We don’t want to run before we can walk.”
CTM head of minor bulk Carlos Pena, who is working with Radziwill on a new panamax agreement, takes a one-step-at-a-time approach.
CTM brings RSA model to panamax bulker segment
“I know my value. I know what I can do. I will clean this up — I will make the landing soft.”
Simon Liang (Liang Xiaolei) takes responsibility for SSG’s failure and does not give up.
“Generally, the money gets stuck for about two months, which, with the volatility of scrap prices, could cause the cash buyer to lose a lot of money if the price goes down in the interim period.”
Rovine Chandrasekera of Stephenson Harwood Middle East describes how cash buyers lose money in the middle of a depressed scrap market.
Cash buyers face Iranian headaches
“When I first got involved with Liberia, basically there were no regulations. Vessels were inspected but that was the end of it. Now it’s a whole different world.”
Florigio Guida, managing partner at International Registries becomes an eye witness of how things can change even in Liberia.
International Registries looks ahead as Marshall Islands flies
“Collectively, the industry lost in excess of $15m in 2015.”
Adem Simsek, the Aliaga-based ship recycler who heads the Turkish Ship Recyclers’ Association, highlights the consequence of conflicting views between the EU and the IMO. Money is getting lost.
Turkish shipbreakers stick with Brussels to keep EU niche market
“However, we do not anticipate, unfortunately, any pick-up in the drilling sector, related either to exploration or to the development of fields in construction.”
Bourbon chief executive Christian Lefevre does not have very good news for owners involved in the drilling sector.
