Conference Round-up Owners to New York: Show us the Money

by Alan Ginsberg

New York may not own or operate the ships like Greece or Oslo; it may not charter them like London can. But in one category, New York continues to draw shipowners like nowhere else can: the lure of money. The very site of Michael Hudner striding confidently to the podium at our ship finance conference last week drove home the point; the completion of his $125 million first preferred mortgage note financing was reduced to a paper signing formality which he would complete immediately following his speech.

Yes, the Michael Hudner, of all those B+H deals, the Braer, and then that messy well-publicized break-up with his commercial manager. In December, after years of trying, Mr. Hudner finally rolled all his ships into one company (accumulating an absolute majority position along the way) and quietly amassed a fleet of ten handy-size products carriers and three handy-size bulkers, an aged fleet as always. Our readers will have to wait until next week for our review of this speculative “Equimar Shipholdings. Ltd.” offering.

This is only an excerpt of Conference Round-up Owners to New York: Show us the Money

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