“It’s a sad, sad situation and has been a sad situation for quite some time.”
Sverre Bjorn Svenning of Fearnley Consultants sums up the bulker market with an echo of Elton John. Couldn’t he have found an apocalyptic David Bowie lyric instead? Something from Five Years perhaps? TradeWinds has been trying to shift Sorry Seems To Be The Hardest Word from its collective consciousness for some time.
“The tense political situation in the region and the changing Turkish shipbuilding market have created a sense of uncertainty among international exhibitors, leading to a general reluctance to register for the SMM Istanbul conference and exhibition.”
Turmoil in Turkey and neighbouring Syria proves too much for Hamburg Messe.
“SBLK’s fleet has gone from massive to less massive…but still massive nonetheless."
Analyst Amit Mehrotra says Star Bulk’s ship sales have not changed anything too radically.
“It is likely that IS will continue to carry out attacks along the coast to further its ambitions in Libya, but at this stage there is no evidence that this intent will extend to attacking vessels offshore.”
Dryad Maritime advises caution in dealings with Libya.
“This exercise is recognised and legal.”
A shipbuilding player sees no problem with yards ordering hundreds of Tier II ships so they can sell them on later, handily avoiding the extra costs of Tier III vessels.
Asian shipbuilders ‘cynically’ exploit Tier III loophole
“Quantum was already in a dire financial position, with significant accumulated debt, and the sudden death of Mr Konstantnides has plunged the business into a financial collapse.”
A lawyer for plaintiff crew quoted in an affidavit to Durban High Court in South Africa.
Crew and creditors arrest ship following owner death
“Sell everything except high-quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small.”
RBS does its best Clive Dunn impression as it predicts financial armageddon. Don’t panic! Don’t panic!
Warning signals flash brighter
“It’s like the elves and the shoemaker type of thing where you make two pairs of shoes, make a profit on selling them and you take that profit and make four pairs of shoes. You then sell the four pairs of shoes, take the profit and you make eight pairs of shoes. That’s great. You are constantly making shoes. But when the bottom falls out of the shoe market, you are as bankrupt as you were when you started. In the meantime, nobody has made any cash and nobody has had a reward or any choices.”
Euronav's Paddy Rodgers illustrates how the industry came to be on its uppers. Can someone tell the tale of the goose that laid the golden egg next week please?
Offshore strain threatens further financing squeeze
“After 10 years with the company, I thought it is time to move on and do something new.”
George Karageorgiou seeks a fresh challenge after his stint at Globus.
New era begins as Karageorgiou passes on Globus Maritime baton
“Everyone knows that the shares will underperform following the split but you do what you need to do to keep your listing.”
Evercore ISI analyst Jonathan Chappell on the continuing trend for stock-splits among owners struggling with their share price. They’ve split more often than Take That and the Spice Girls put together.
Reverse splits ‘a necessary evil’ for listed companies
“One of the frustrations of owners is dealing with the almost handcuffing element of [P&I] club release calls. Brokers have been itching to have something like this and, now it is in place, I’m expecting good support.”
Navigators’ Jason Riley wants to ease the voyage from the club to the fixed-premium protection-and-indemnity (P&I) market.
Navigators bids to loosen release call handcuffs shackling owners
