I am a big quote person- probably because I’m a t.v. journalist and I live to sum up stories in soundbites 🙂 Here are some from Dynasties of the Sea. My two utmost favorites are the no-nonsense of Dagfinn Lunde and the family advice from Nicky Pappadakis. Trøim’s outlook is pretty powerful as well.
Below are quotes from Dynasties of the Sea which is under the trademark of Marine Money
“If I like a deal and we go for it, it is when I’m the last man standing that we make a killing.” – John Fredriksen, Chairman and CEO of Frontline Ltd., the world’s largest private shipowner
“Shipping is becoming part of a long logistics chain. With 95% of the world’s trade moving by sea, if you compare the cost per ton-mile, it’s still the most economical mode of transportation and environmentally has the best footprint compared to other modes of transportation.” – Rajaish Bajpaee, CEO of Bernhard Schulte Shipmanagement (BSM)
“Either you default, or you pay me. That’s pretty much it. Either you give me a check or give me the key. Everyone can give loans. But the real expertise is to get that money back.” – Dagfinn Lunde, Head of Shipping at DVB Bank SE
“I think consolidation would definitely help the industry, because presumably, if you five big firms controlling the industry it would centralize the decision making much more. And second, presumably if you’re a bigger player, you should have a little better intelligence as to what’s going on the industry. If you’re one little isolated guy, your comprehension of what the industry is doing is probably much smaller.” – Wilbur L. Ross, Jr., Chairman and CEO of WL Ross & Co.
“This man-made crisis is just so massive. I think it’s going to take 5-10 years before the market comes back again.” – Tor Olav Trøim, Vice President and Director of Seadrill Ltd.
“My grandmother had a simple saying about the cycles, ‘98 ships and 101 cargos equals boom. 101 ships and 98 cargos equals bust.’” – Nicky Pappadakis, Chairman of the International Association of Dry Cargo Shipowners (INTERCARGO)