ShipSpotting.com Forum
Shipspotters all over the world => Shipping News and information => Topic started by: Fotojoe on July 20, 2010, 07:38:46 AM
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"CPO" - Reederei Claus Peter Offen sold another five ships.
Santa Carlotta
Santa Carolina
Santa Catalina
Santa Celina
Santa Christina
all built 2000/2001 abt 40k tdw 3430 teu 3x45ts cr
sold to Metrostar Athens
wasnt CPO the one who proudly stated CPO wouldnt require any state aid ? strange to see them selling heaps of vessels now. may be a cashflow problem.
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Actually CPO applied for EUR 150m ($190m) in government aid, but it was rejected.
Along with many German charter-owners, they have been hit hard by the Global economic downturn as operators delivered chartered ships early and fresh charters failed to materialise.
Brgds
Phil
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The situation is not quite so bad...
http://www.shipspotting.com/modules/myalbum/photo.php?lid=1110828
Adi
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At Kiel I saw recently as well 5 laid up CPO ships, Santa Adriana, Arabella, Alina, Giorgina and Francesca.
Maybe they have real problems.
Gerolf
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may be they have need money because 5 x 12552 teus ships ordered at samsung heavy are not financed and cma /cgm dont pay cpo for these ships.
cma cgm okapi is seized by offen at durban since october 2009.
3 ships must be sold to cma cgm and 2 chartered to cma/cgm for 12 years.
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well, well all speculations, why don't we just try the equasis web page and have some real figures? so far cpo is stable financed and ships are still well equipped, salaries paid and so on...
their lay up ships are only smaller units. to have only less then 10% off their fleet not yet back into service is not really a threat, is it?
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All big container ship companies having problems, i.e. Hapag Lllyod,,which virtually was bankrupt (also when that was most probably more management incompetence then the market) The teal problem was more or less that a lot of them just ordered ships to have the building contracts and resold them partial
before the construction started. There is an old saying in maritime busienss,,
"money is made through shipping not with shipping" That applied to the frenzy
leading up to the crash to the extrem. Ships were not ordered to operate them, but to resell them asap and/or collecting already the percentage from the own financing houses from the investors. 5 ships by each30 millon and of that sume a 5% cut for handling itis much easier money then to running the show later.
The real problem is,,that those big companies, some of them bad managed, are a real threat to well managed companies and lesser known ones. Those companies have to compete with subsidiesed companies like HALO. HALO for example bankrupt and the whole shipping industrie would recover almost overnnight.
It,s a pity that the german government always bails them out again.