Freshly Minted – March 23, 2000

CONNECTICUT MARITIME ASSOCIATION SHIPPING 2000

As usual almost 1000 members of the shipping industry were at the Connecticut Maritime association trade show and conference this week. If we were to list all of the notables who attended there would be no room for news in this week’s FM (though there really isn’t much going on in ship finance). However some color can be had by a simple mention of a few – Westye Hoegh, Philip Shapiro, Richard du Moulin, Philip Embiricos, this year’s award recipient Per Heidenreich, Claes Davidsson, Chuck Delamater, Kevin Kennedy, Peter Georgiopoulos and on and on…

Notable Quotes “In the end, no amount of asset sales or cost cutting could have helped.” John Blankley, Seafirst Capital and former CFO of Hvide Marine on Hvide Marine Bankruptcy and Restructuring.

“It is very expensive indeed to be poor.” John Blankley on the cost of loans in technical default, financial advisors, attorneys and other advisors to the reorganization process.

“If they are prepared to discount fees, they are prepared to discount standards.” Paul Slater, First International on Class Societies.

“The Erika is an accident the European Commission could have designed.” David Cockroft, Executive Director, International Transport Worker’s Federation, on the EU Commissioner’s opportunity to make a legislative and regulatory statement.

“The banks are still a great part of the evil.” David Cockroft on contributors to the industry’s ills.

“I am working on internet time, that is where one week is equivalent to four weeks of real time.” Dhiren Patel, VP at Freightdesk.com, the Quartel-led freight forwarder ASP, commenting on all that has taken place since Freightdesk was launched one week earlier.

“BUT YOUR CREDO SHOULD BE THIS MARIO ANDRETTI QUOTE: “IF THINGS SEEM UNDER CONTROL, YOU’RE JUST NOT GOING FAST ENOUGH” Johnny Kulukundis, Charles Weber, Vision Division

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