Courting Quintana

Like many closely watched deals, especially those of the public variety where publicly reported information is strictly regulated, the headlines that came out over the past months regarding Quintana’s future were sometimes conflicting and often confusing. And with good reason; many insiders could not have said in early January what the future of the company would be, nor were they at liberty to share information about the details of the sale process. That said, we considered it worthwhile to take a deeper look at Quintana’s sale process, the offers the company received, and other alternatives they considered, as well as the valuations calculations and assumptions that formed the basis for Quintana’s ultimate decision to recommend Excel Maritime’s cash and share offer. Details have been made available to the public in advance of Quintana’s April 14 shareholder vote. Continue Reading

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.

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