New York correspondent, Seatrade Maritime
Barry Parker is a New York-based maritime specialist and writer, associated with Seatrade since 1980. His early work was in drybulk chartering, and in the early 1990s he moved into shipping finance where he served as a deal-maker and analyst with a leading maritime merchant bank. Since the late 1990s he has worked for a group of select clients on various maritime projects, also remaining active as a writer.
Rates for OSVs in the US remain underwater but utilisation levels are starting to rise and a “rational” approach to stacking and drydocking by owners could see pricing power start to return.
In a $1.65bn deal Capital Product Partners LP and Diamond S Shipping are merging in a major consolidation in the product tanker space. The latest deal creates a platform for existing shareholders of Diamond S, which also include First Reserve a backer of shipping company IPOs in the 2005- 2007 boom period, to create liquidity.
Getting in the ring at last week's Marine Money’s Ship Finance Forum in New York to do battle with the topic of equity fundraising in shipping were Robert Bugbee, ceo of Scorpio Bulkers and Scorpio Tankers, and John Michael Radziwill, ceo and chairman of Oslo-listed Goodbulk.
The US “mid-term” elections, sandwiched in the even years halfway through Presidential terms, are now behind us.
The Great Lakes shipping community received a huge boost in late October, with President Donald Trump signing a bill that would authorize close to $1bn for construction of a second lock allowing transits of large “Laker” vessels, at the Soo Locks in the north of Michigan at the eastern terminus of Lake Superior.
Digitalisation, now permeating all aspects of shipping, was central to almost every discussion and panel over Shipping Insight’s three-day span at its 2018 conference in Stamford, Connecticut in US last week.
“Stepping on the Gas” was the title of an online webcast that was part of investment powerhouse Deutsche Bank’s initiating coverage of the LNG Shipping sector, spotlighting analyst Chris Snyder- who leads the bank’s research into this attention-grabbing sector.
Scorpio Group’s massive about turn on scrubbers to order 146 exhaust gas cleaning units for its tanker and bulker fleets is a “commercial opportunity to burn cheap fuel”, according to the shipowner’s managing director.
The availability of capital, both equity and debt, is a perennial discussion and has two particular areas of focus at present - for consolidation and green loans for retrofits to meet environmental regulations.