Basil M Karatzas and Karatzas Marine Advisors Quoted in the News

We are delighted that Karatzas Marine Advisors & Co., and its founder Basil M Karatzas have become the contact to have for shipping market expertise; with prompt access to market information and a vast network and access to senior executives worldwide, in the shipping industry and several complimentary industries, the company has had a front row seat to today’s developments in the maritime industry and has been enjoying an active deal-flow and the trust of many in the shipping industry.

Five shipping and logistics influencers you should follow (Veconinter, March 13th, 2017)                                                                                                                            Basil Karatzas was named one of the shipping industry’s influencers by Veconinter, a Venezuela-based logistics company; tweets on shipping, and everything about it, by Basil Karatzas can be followed at @KaratzasMarine and @BasilKaratzas

Πήρε «φωτιά» η αγορά πλοίων μεσαίου τύπου για ξηρό φορτίο (Ναυτεμπορικἠ, March 14th, 2017)

ZIM Shipping Names New CEO in Face of Possible Sale (The Wall Street Journal, March 10th, 2017)

Gibraltar Shipping Interview: Basil Karatzas Talks Alternative Bunkers, S&P Markets, Vessel Financing, and Trump by Gibraltar Shipping (March 10th, 2016)

Ναυπηγήσεις – διαλύσεις, διπλή πρόκληση για τα bulk carriers (Ναυτεμπορικἠ, March 6th, 2017)

Still at sea Shipping’s blues: The many barriers to scrapping cargo ships (The Economist, March 2nd, 2017)

Σε «bad bank» το 5% του παγκόσμιου στόλου των containerships (Ναυτεμπορικἠ, February 15th, 2017)

Sinking Feeling: Shipping Is Latest European Banking Worry (The Wall Street Journal, February 10th, 2017)

From the crossroads to the world… Image credit: Karatzas Images

© 2013 – present Basil M Karatzas & Karatzas Marine Advisors & Co.  All Rights Reserved.

IMPORTANT DISCLAIMER:  Access to this blog signifies the reader’s irrevocable acceptance of this disclaimer. No part of this blog can be reproduced by any means and under any circumstances, whatsoever, in whole or in part, without proper attribution or the consent of the copyright and trademark holders of this website. Whilst every effort has been made to ensure that information here within has been received from sources believed to be reliable and such information is believed to be accurate at the time of publishing, no warranties or assurances whatsoever are made in reference to accuracy or completeness of said information, and no liability whatsoever will be accepted for taking or failing to take any action upon any information contained in any part of this website.  Thank you for the consideration.

2017 03MAR07 N Ναυπηγησεις-διαλυσεις, διπλη προκληση για τα bulker carriers

Hanjin Shipping in Receivership

On August 31st, 2016, Hanjin Shipping filed a receivership petition with Seoul’s Central District Court, and on September 6th, for Chapter 15 protection at US Federal Bankruptcy Court in Newark, NJ. Filings in approximately 45 jurisdictions worldwide, where Hanjin vessels trade, are expected to be filed in the very near term.

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Containership MV ‘Hanjin Monaco’ against the downtown Manhattan skyline in better days. Image credit: Karatzas Images.

With approximately 140 vessels under management, only 40 of which are self-owned and 100 chartered-in or leased, there have been serious implications for the market, at least in the short term. With only US$ 700 mil in equity, US$ 1.7 billion value of its fleet and $5.4 billion in outstanding obligations, the capital structure resembles a house of cards. The value of the cargo on-board of Hanjin’s vessels at the time of filing for receivership was estimated at $14.5 billion. The ensuing result has been a logistical nightmare, given all such cargo had contractual obligations to be delivered on time, but Hanjin’s vendors would not render any services unless they were getting paid in advance. Receivership and Chapter 15 can stop creditors from knocking on the door, but vendors would now perform only on cash basis payments. Hanjin’s financial nightmare has been compounded by the legal complexity of the business which is further compounded by the logistical complexity of the containership liner business. Only the fact that the containership market has appr. 25% capacity (which has caused Hanjin’s financial troubles in the first place) can alleviate concerns that Hanjin’s potential demise will no be a threat to the supply chain and international trade.

Hanjin’s filing has been front page news for the whole last week. Here’s a list of articles in the print, TV and radio coverage where Basil M Karatzas and Karatzas Marine Advisors & Co were quoted:

Moral Hazard Case Study: Hanjin Shipping                                                          Maritime Executive, September 6th 2016

Containers Stranded at Sea After South Korean Company Goes Bankrupt         NPR, All Things Considered, September 8th, 2016                                                    To Listen to the Audio Clip, Please Click here!  

Retailers Seek U.S Help With Shipping Crisis                                                            The Wall Street Journal, September 1st, 2016

Hanjin Shipping Bankruptcy Unlikely to Ease Gluts of Vessels                                    The Wall Street Journal, September 2nd, 2016

Shipping Chaos                                                                                                              The Exchange CBC News Canadian Broadcasting Corporation                                TV Interview, September 2nd, 2016

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Basil Karatzas on CBC News – The Exchange about Hanjin Shipping’s Receivership. Image credit: CBC

© 2013 – present Basil M Karatzas & Karatzas Marine Advisors & Co.  All Rights Reserved.

IMPORTANT DISCLAIMER:  Access to this blog signifies the reader’s irrevocable acceptance of this disclaimer. No part of this blog can be reproduced by any means and under any circumstances, whatsoever, in whole or in part, without proper attribution or the consent of the copyright and trademark holders of this website. Whilst every effort has been made to ensure that information here within has been received from sources believed to be reliable and such information is believed to be accurate at the time of publishing, no warranties or assurances whatsoever are made in reference to accuracy or completeness of said information, and no liability whatsoever will be accepted for taking or failing to take any action upon any information contained in any part of this website.  Thank you for the consideration.

 

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Media Mentions for Basil Karatzas

We are taking pride to always be up-to-date in our field of business , and, if possible, a little ahead, as once a successful executive at a well-respected company presciently said. At the shipping finance advisory and ship-broking firm Karatzas Marine Advisors & Co., we measure our success not only by the number and size of the transactions we work on and successfully conclude, the ships we finance and sell, the caliber of the shipowners and clients we work with, but also by the times we were honored to provide current market information, insight, opinion and counsel to maritime, finance and trade topics to highly respected publications.

A few articles of recent where Basil M. Karatzas and Karatzas Marine Advisors & Co. were in the press:

Quoting Basil M. Karatzas in the Logistics Report of The Wall Street Journal in ‘Today’s Top Supply Chain and Logistics News from WSJ’, for August 26th, 2015.

Quoting Basil M. Karatzas in The Wall Street Journal in ‘Europe-to-Asia Freight Rates Fall as Volume Forecasts Cut’, on August 25th, 2015. pdf version of article accessible by clicking on this link!

Quoting Basil M. Karatzas in Die Zeit Online (in German) in ‘Griechenland: Wenigstens den Reedern geht es gut’ on August 18th, 2015. In short, while Greece is doing badly recently, Greek shipowners seem to keep being world competitive in their field. Article title liberally translates ‘Greece: At least the Shipowners are doing well’.

Quoting Basil M. Karatzas in The Wall Street Journal in ‘Greek Shipping Industry Extends its Dominance’ on August 7th, 2015. pdf version of article accessible by clicking on this link!

Quoting Basil M. Karatzas in the Wall Street Journal in ‘Tide Turns for Greece’s Shipping Industry’ on July 22nd, 2015. pdf version of article (including chart on shipping tax regimes produced by Karatzas Marine Advisors & Co.) accessible by clicking on this link!


© 2013-2015 Basil M Karatzas & Karatzas Marine Advisors & Co.  All Rights Reserved.

IMPORTANT DISCLAIMER:  Access to this blog signifies the reader’s irrevocable acceptance of this disclaimer. No part of this blog can be reproduced by any means and under any circumstances, whatsoever, in whole or in part, without proper attribution or the consent of the copyright and trademark holders of this website. Whilst every effort has been made to ensure that information here within has been received from sources believed to be reliable and such information is believed to be accurate at the time of publishing, no warranties or assurances whatsoever are made in reference to accuracy or completeness of said information, and no liability whatsoever will be accepted for taking or failing to take any action upon any information contained in any part of this website.  Thank you for the consideration.

2015 08AUG25 WSJ Europe-to-Asia Freight Rates Fall as Volume Forecasts Cut_HL

2015 08AUG07 WSJ Greek Shipping Industry Extends Its Dominance – WSJ_HL

2015 07JUL22 WSJ Tide Turns for Greece’s Shipping Industry_HL