“In coming years the stress of owning ships will result in prices falling further.”
Hsu Chih-chien of Eddie Steamship is buying ships but believes a ‘precipitously’ fall in value still has some way to go.
(Eddie ends two-year break from purchasing)
“Now I would love to buy — well-maintained ships ideally between five and eight years old, possibly older, but not older than 11 years. When I suddenly saw a spate of capesize vessels going for scrap, I began to think that we just might be quicker in coming to a balance. If cape sentiment changes, it changes the whole market.”
A change of heart about the merit of owning steel from Caravel’s Harry Banga.
(Caravel sees the bottom and gears up to buy bulkers)
“One a week, plus one for your birthday and one for your name day.”
Analyst Mark Williams warns that there are plenty of VLCCs sailing from shipyards this year so crude tanker owners should not be seduced by what may be short term market trends.
(Crude tanker owners told to play safe on ship supply)
“It’s an anomaly to see such strong rates and so many willing sellers unable to find a willing buyer.”
A tenth of the world VLCC fleet is up for sale but the strong spot market is holding back deals according to Euronav’s Paddy Rodgers.
Seaspan director Graham Porter reveals steering clear of brokers and staying sober may be a little boring but is a good strategy for avoiding corruption.
(No refunds, no brokers and no karaoke)
“Even in our bulker business, the risk is more on the spot market than on Chinese customers. When risks appear, the Chinese government has much more resources to resolve it. They still consider shipping a strategic industry.”
Porter, wearing his Tiger group hat, remains upbeat about China especially where the counterparty is a state enterprise.
(Tiger Group keeps up its defences against China risk)
“Second time around - less mistakes. That is where I think we are going.”
Veteran shipbroker, Quentin Soanes, learnt a few lessons at Braemar so Sterling Shipping should have a less eventful voyage.
(Sterling Shipping aims for big time)
"If you don’t like the answer, change the inputs until you get the result you want."
Shipping economist, Sydney Levine, reveals the secret of coming up with the discounted cash flow valuation you need in a letter to TradeWinds.
(Re: ‘VV Launching dcf price’)
“If the bigger boats are destroyed, they will just use more dinghies and inflatables — and the problem could get even worse.”
Destroying people traffickers' vessels to try to stem the flow of refuges from North Africa to Europe is not a solution, according to Patrick Verhoeven of the European Community Shipowners’ Associations.
(Triton operation resources tripled but fears for migrants’ safety remain)
“Subsidising protection and indemnity rates from extraneous sources artificially distorts call income, with the effect of reducing a club’s assessed contribution to pool claims.”
A warning from International Group chairman, Grantley Berkeley, that diversification poses another risk to P&I fairness.
“Is a strong merchant marine important to this country? If you want US mariners for a strong maritime industry, we need these training ships.”
State University of New York Maritime College chief, rear admiral Michael Alfultis, makes a $1bn pitch for five new training ships with a huge price tag as they would be built in the US.
