“Whilst we did our part, it now seems that the Koreans — for their own internal politics — will not be honouring their part in supporting the company with liquidity… leaving the owners with a much higher exposure in unpaid hires relative to the amount owned to us back in June.”
Danaos’ chief operating officer Iraklis Prokopakis has a clear conscience over the company's efforts to help Hanjin.
Owners vent anger over lender exit as Hanjin faces break-up
“The Korean taxpayer will not support the shipping sector after all the problems with shipbuilding, which employs far more people. But, in the end, the process was irrelevant to what the international lenders were complaining about. It was a political question.”
A top Asian executive at one major bank highlights the political side of Hanjin’s collapse.
Global shipping banks ‘held hostage’ in Korean stand-off
“Shippers would not want to continue using a liner company that has collapsed.”
A boxship broker describes the tough times that Hanjin will have to face from now on.
Hanjin faces ‘near impossible’ survival fight
“There is no reason why Maersk wants to take over our company.”
Cold water is poured on Maersk’s intention to take control of K Line, according to an executive from the Japanese company.
All eyes on Effissimo amid K Line takeover talk
“We are extremely disappointed with the judgment and intend to consider with our lawyers seeking to appeal the court’s decision.”
One of the most protracted legal shipping sagas is far from over. Sovcomflot will fight back and Lord Fairfax will do his best to appeal the decision.
Sovcomflot considers appeal over Nikitin judgment
“We are not going to go the route that some Norwegian families have taken where another shipping company starts competing down the street.”
Paul Pathy pledges to do it “his way” after his brother Mark stepped down as Fednav’s chief executive.
Paul Pathy takes sole charge of Fednav
“In terms of who is going to buy shipping books, Asia is a better bet than anyone within Europe at the moment.”
Simon Spells, the Berwin Leighton Paisner partner, tips Asian investors as more likely to buy distressed shipping portfolios.
Asia ‘is better bet’ than Europe to buy bank ship loans
“Greek shipowners are concerned about when the market is going to recover. Thus, they seem very open to chartering their vessels on time charter deals in order to secure steady income.
Ellery’s Theodoros Papachristou explains why Greek shipowners would not say “no” to a good charter deal.
Greek charterer says ‘timing is right’ for dry debut
“This will happen at some point in the future.”
It’s not all about financial research for Petrofin’s Ted Petropoulos, who looks tempted to return to the dry bulk market as an owner, but not yet.
Petrofin postpones return to dry bulk while rates are in doldrums
“At the time of the transaction, I thought they had specific plans immediately, but now it’s been months and they have not made any major moves into other sectors.”
Former Courage Marine principal CC Hsu sounds rather disappointed over the company’s stance in the previous months.
