It’s a New Year, Baby! So Be Creative!

January 2002 has brought a suspenseful beginning. This is largely because since the beginning of December, very little has occurred. (Of course between the writing of this and the issue being delivered, something huge will occur. It always seems to work that way.) Other than the ACLN mess, the Carnival/P&O/RCCL fight, a couple of KGs buying tankers, and Stolt rumored to be doing an $85m sale leaseback with DnB for 5 years on 12 old vessels, there has been little news. Compounding last month’s quiet was the uncertainty and halting nature created by September 11th. Yes markets have receded and then rebounded in both shipping and equities, but it feels as if little has happened, likely since we have all been preoccupied since “the event”.

On the cover of the magazine and pictured here is Geoff Uttmark’s, our Director of Equity Research, new boy, named Declyn. OK, we know one may ask, what the heck is a Declyn? Well the entomology of the name is fivefold. For the “Dec” portion of the name, the “Dec” represents the month of birth (December), the DECade of marriage that produced the baby and the Thai word for baby, as the mother is Thai, “dec”. The “Lyn” portion of the name represents the place of birth, BrookLYN, New York and it’s a tribute to the city in this difficult year as well. Now whether one likes the name, we certainly do, or not is neither here nor there: At the very worst the name shows creativity. 2002 is going to take a lot of creativity to stay ahead, or to just keep one’s head above water. The purpose of the January 2002 Marine Money is to cover some aspects of the ship finance world that will pose specific issues over the year and how one may be able to profit from approaching the various scenarios adequately.

This is only an excerpt of It’s a New Year, Baby! So Be Creative!

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