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.
The expanded Panama Canal saw container trade switching from the US West Coast calls, with landbridge connections inland, to calls on the East Coast, however, higher fuel costs associated with the IMO’s 2020 sulphur cap could drive up to 1.2m teu of trade back to West Coast ports.
The Connecticut Maritime Association (CMA) has announced that John C. Hadjipateras, chairman, ceo & president of the listed company Dorian LPG has been selected as its 2019 Commodore.
What happens when a warm front, in the form of improving prospects in the drybulk and other corners of the maritime markets, clashes head on with a cold front, in the form of overall economic nervousness sprinkled with interest rate hikes, a China slowdown and trade flow jitters?
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.