We Had Drinks With The Biggest Players In The Shipping World, And This Is What They Told Us

marine money week, marine money international event, june 2012, bi, dng

[credit provider=”Daniel Goodman / Business Insider” url=”http://www.businessinsider.com.au/author/daniel-goodman”]

Almost everything Americans own has spent time on a ship crossing the Atlantic or Pacific oceans.Ships transport energy, raw materials, and finished goods ranging from socks to BMWs.  No industry has a more intimate understanding of what’s going on in the global economy.

The 25th annual Marine Money Week just wrapped up.  Business Insider was invited to a cocktail reception where we rubbed elbows with the top bankers, savviest analysts, and most powerful shipping magnates in the entire world.

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title=”Despite its size, the shipping industry is notoriously secretive, with very few companies ever going public”
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title=”The party was held at the MoMA, where the shipping industry’s biggest dealmakers were honored for making it rain”
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permalink=”we-met-dvb-banks-dagfinn-lunde-who-some-argue-is-the-most-powerful-shipping-banker-in-the-world-3″
title=”We met DVB Bank’s Dagfinn Lunde, who some argue is the most powerful shipping banker in the world”
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title=””There is no recession on the demand side,” Lunde emphasised repeatedly. The headlines highlighting the beleagured shippers belie the vibrant global economy which continues to grow”
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[slide
permalink=”thomas-preben-hansen-ceo-of-rickmers-maritime-noted-that-around-34-of-the-crowd-were-facing-legacy-debt-problems-5″
title=”Thomas Preben Hansen, CEO of Rickmers Maritime, noted that around 3/4 of the crowd were facing legacy debt problems”
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[slide
permalink=”hansen-noted-that-the-players-with-financial-flexibility-were-the-ones-who-could-capitalize-on-the-growing-economy-in-what-may-currently-be-the-biggest-opportunity-of-a-lifetime-6″
title=”Hansen noted that the players with financial flexibility were the ones who could capitalise on the growing economy in what may currently be “the biggest opportunity of a lifetime””
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permalink=”every-single-person-we-spoke-to-argued-that-the-baltic-dry-index-is-an-extremely-poor-proxy-for-the-health-of-shipping-and-the-global-economy-7″
title=”Every single person we spoke to argued that the Baltic Dry Index is an extremely poor proxy for the health of shipping and the global economy”
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permalink=”rev-david-m-rider-of-the-seamans-church-institute-told-us-about-the-intense-emotional-distress-that-many-seafarers-face-during-their-extended-periods-on-the-sea-8″
title=”Rev. David M. Rider of the Seaman’s Church Institute told us about the intense emotional distress that many seafarers face during their extended periods on the sea”
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[slide
permalink=”diamond-s-shipping-won-marine-moneys-award-for-private-equity-deal-of-the-year-from-l-to-r-mike-fogarty-svp-florence-ioannou-cfo-craig-stevenson-jr-ceo-craig-stevenson-iii-vp-peter-ekvall-vp-9″
title=”Diamond S Shipping won Marine Money’s award for Private Equity Deal of the Year (From L to R: Mike Fogarty, SVP; Florence Ioannou, CFO; Craig Stevenson Jr., CEO; Craig Stevenson III, VP; Peter Ekvall, VP)”
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[slide
permalink=”with-help-from-wl-ross-diamond-s-secured-over-1-billion-in-equity-financing-for-30-ships-10″
title=”With help from W.L. Ross, Diamond S secured over $1 billion in equity financing for 30 ships”
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[slide
permalink=”stevenson-told-us-he-got-his-start-in-the-industry-as-a-lowly-navigator-now-hes-one-of-the-most-powerful-shippers-in-the-world-11″
title=”Stevenson told us he got his start in the industry as a lowly navigator. Now he’s one of the most powerful shippers in the world”
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[slide
permalink=”loli-wu-a-top-banker-from-bank-of-america-merrill-lynch-spoke-on-effective-strategies-on-generating-return-on-capital-12″
title=”Loli Wu, a top banker from Bank of America Merrill Lynch, spoke on effective strategies on generating return on capital”
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[slide
permalink=”marine-money-week-is-one-of-the-best-opportunities-for-shippers-to-connect-with-the-best-financiers-in-the-business-13″
title=”Marine Money Week is one of the best opportunities for shippers to connect with the best financiers in the business”
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permalink=”two-of-the-most-popular-attendees-were-jim-lawrence-chairman-of-marine-money-and-cnbcs-lori-ann-larocco-author-of-dynasties-of-the-sea-the-shipowners-and-financiers-who-expanded-the-era-of-free-trade-14″
title=”Two of the most popular attendees were Jim Lawrence, Chairman of Marine Money, and CNBC’s Lori Ann Larocco, author of “Dynasties of The Sea: The Shipowners and Financiers Who Expanded the Era of Free Trade””
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permalink=”germany-is-the-strongest-member-of-the-donner-family-said-jerry-lichtblau-a-top-shipping-analyst-from-true-north-chartering-he-was-highly-critical-of-the-structure-of-the-eurozone-15″
title=””Germany is the strongest member of the Donner family,” said Jerry Lichtblau, a top shipping analyst from True North Chartering. He was highly critical of the structure of the eurozone”
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permalink=”lichtblau-acknowledged-the-supply-side-problems-of-the-shipping-industry-but-he-also-noted-that-many-of-the-most-debt-laden-shippers-were-still-able-to-fund-their-operating-and-interest-costs-16″
title=”Lichtblau acknowledged the supply-side problems of the shipping industry. But he also noted that many of the most debt-laden shippers were still able to fund their operating and interest costs”
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[slide
permalink=”matt-mccleery-president-of-marine-money-was-happy-to-have-us-17″
title=”Matt McCleery, President of Marine Money, was happy to have us”
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[slide
permalink=”we-left-knowing-that-despite-troubles-in-the-shipping-industry-the-global-economy-was-indeed-growing-at-a-healthy-clip-18″
title=”We left knowing that despite troubles in the shipping industry, the global economy was indeed growing at a healthy clip”
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[slide
permalink=”more-on-shipping-19″
title=”More on shipping”
content=”TRADE WAR: How 12 Major Economies Have Closed Up Since The Crisis >
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[/slideshow]