On Location – Posidonia

The scale of the shipping community that descended upon Athens this week is hard to describe. The taxi drivers tell locals “traffic will be better next week once Posidonia is over”. Your correspondent upon getting into a taxi and trying to speak to the driver in English was answered with the simple question “Astir?”, referring to the hotel around which most of the Posidonia-related events are centered. As it happens I was headed elsewhere, but it was certainly a good guess.

Marine Money Conferences Span the Globe

One of our central beliefs is that every nation has a maritime industry, some are larger than others, but the fact is the movement of goods by water either internationally or coastwise is fundamental to economic growth. The other central belief is that ships, like any big- ticket wasting asset, will always need competitive capital sources. So we take enormous pride in bringing these two powerful forces, capital and shipping, together, around the world.

MukemmelBirForum

Last Thursday, the 5th annual Marine Money Istanbul Ship Finance Forum took place within sight of the Bosporus at the Swissotel. In our mind, there could not be a more appropriate setting for this or any shipping conference.

After greetings from Marine Money’s Mia Jensen and Kevin Oates, Mr. Metin Kalkavan, as Chairman of the Turkish Chamber of Shipping gave brief introductory remarks which included interesting numbers on the Turkish shipbuilding industry. He was followed to the podium by Mr. Lucien Arkas, the Chairman of Arkas Holdings, who gave the keynote address. Mr. Arkas provided a concise history of his 44 years in shipping. But more importantly, he attributed the Turkish owners’ success in this industry to their high level of entrepreneurship, courage and self-esteem.

Marine Money Brings the Ship Finance Industry to Imabari City, Shikoku Island

We are pleased to announce that the 3rd annual Japan Ship Finance Forum will take place May 14-15 at the Imabari Kokusai Hotel in Shikoku Island. Together with our official partner Sumitomo Mitsui Banking Corporation (SMBC), we have put together a program that we believe will be of value to the local Japanese ship owners and financiers as well as foreign players looking at Japan.

East Meets West

It has been eight years since the author of this article was last in Istanbul. In this timeless city, this is not a long time. While many things have changed, most thankfully have not. For us, it is a city of hope, where the secular and the religious world co-exist in peace. In the bustle of a thriving city, one still can hear and heed the call to prayer. Unfortunately, the one constant is of course the traffic. And finally, unlike shipping, the hotels caught on to a weakening dollar 18 months ago and now charge Euros making a visit here much more expensive. Nonetheless it remains one of the world’s most interesting cities.

CMA’s Irish Feis

CMA’s 2008 Shipping Conference got off to a brilliant start on St. Patrick’s Day. It was not only bigger, 2,000 attendees by latest count, but if possible was one of the best ever in terms of content. Understanding that everyone is Irish on St. Patrick’s Day, the organizers brought Ireland to the conference much to the chagrin of the local pubs, Tiernan’s and Tigin. Bob Kunkel of Seacoast Electronics was serving Guinness and Harps at the Seacoast booth and then brought in the pipes and drums from the Rockland County Emerald Society for entertainment.

It is grossly unfair to gloss over the program, which is dedicated to every part of shipping, but it would also be impossible to describe it all. So instead we will exhibit our prejudice and focus on the market sessions.

Gulf Ship Finance Forum

That changed was evinced by the turn out of over 200 delegates for Marine Money’s 4th annual Gulf Ship Finance Forum. The delegates hailed from locally based business and from across the globe to talk about ship finance prospects in the Middle East. As many global banks struggle to meet their clients’ needs, many Gulf banks remain flush with the cash that continues to flow into the region. Interest has reached a peak, for both Shariah compliant and more traditional bank facilities. This gathering of experts in shipping and finance of the region was thus highly illuminating and instructive.

Dubai, Incorporated

“Rome wasn’t built in a day”, goes the common refrain. But in Dubai it is frequently followed up with something along the lines of “but no one ever told the Sheikh”. Anyone who has had the fortune to visit in the last decade can attest to the scale of the construction that has happened and is continuing to happen in this synthetic oasis. They also note that this Emirate is run more like a business than a state, its visitors and citizens frequently treated as clients and customers.

Conference Coverage – 11/28/2007

Our conference season has come to a close and we report herein on our last highly successful conferences including our latest addition, Italy.

The Neapolitan Sun Rises

This past Tuesday one hundred delegates gathered in an intimate setting at the Hotel Vesuvio in Naples Italy to discuss issues pertaining to Italian ship finance. The elegant hotel overlooks the infamous Mount Vesuvius, the Castle Dell’Ovo and a picturesque marina. But there was a lot more than scenic vistas and delectable cuisine waiting to greet delegates who made the trip to Napoli. The were met with a firsthand look at the changing financial culture of Italian shipping, while the Italian shipping industry was met with first-rate providers of a full range of ship finance products. The day would be filled with interesting insights, observations and case studies, only a handful of which are outlined below. The level of sophistication in the Italian market was made clear, and the changes taking place to make the market more open to international finance were palpable. Continue Reading