First International

News

Terrible results herald painful future 17-11-2011

WE ARE now in the midst of the reporting season for the publicly listed shipping companies.The results published are for the third quarter and the first nine months of 2011. They universally make terrible reading and as the results reflect...

read more »

Let’s throw a massive bankruptcy party 17-08-2011

Reasons why filing for Chapter 11 may be a shipping company’s best route to survival.With freight markets likely to remain soft for some considerable time, and with investors selling off shipping stocks across the board, there are many...

read more »

‘There is more trouble ahead for the global shipping industry’ 23-03-2010

First International chairman says that a number of factors are conspiring to keep companies in doldrumsPaul Slater AS WE approach the end of the first quarter of 2010, the state of the global shipping industry continues to worsen. There are...

read more »

Ringing the closing bell on NASDAQ 30-06-2009

On the occasion of Marine Money Week Conference in New York, Paul Slater and a few of the other leading figures in the Maritime Industry joined Jim Lawrence, President of Marine Money to ring the closing bell on NASDAQ on Wednesday, June 24th...

read more »

First of many 30-06-2009

For shipping finance veteran Paul Slater, Eastwind Maritime's bankruptcy is just the beginning of a raft of insolvencies.Paul SlaterHe told TradeWinds Wednesday that the Chapter 7 filing is the "first of many to come" in a shipping industry that...

read more »

Half of all listed shipping companies may go bust 22-05-2009

MORE than half of the shipping companies with stock exchange listings could slide into bankruptcy or administration proceedings in the next year as their cash drains away, a senior industry figure has warned. The grim assessment was issued by...

read more »

First International retains CMS golf tournament title 06-05-2009

First International is proud to announce that their golf team successfully defended their title as Champions of the Connecticut Maritime Association's annual golf tournament in Stamford CT on Thurs April 30th 2009.The team of Paul Slater, Mark...

read more »

Restructuring urged as owners teeter 06-03-2009

Download article by Greg Miller, taken from Fairplay,  5 Feb 2009

read more »

Mare Forum 2009: Shipping investors told to adjust expectations 19-02-2009

SHIPPING investors wishing to start new projects will have to inject “100% equity” for the foreseeable future and make do with significantly lower returns, as bank financing disappears under a “new paradigm”. Leading...

read more »

RBS nationalisation makes owners and yards edgy 21-10-2008

HOW THE mighty have fallen. Last December, Royal Bank of Scotland announced it had won the prestigious Shipping House of the Year award at the 2007 Jane’s Transport Finance Gala Awards. Lambros Varnavides, head of shipping at the...

read more »

Shipping will emerge victorious 21-10-2008

FOR SHIPPING the long-term effects of the credit crunch may be positive, delegates at the 1st World Shipping Congress, held in Athens on 9 October and sponsored by the Financial Times, were told.   Robert Wright, the...

read more »

Confidence on rocks in shipping sector 21-10-2008

One topic dominated the thinking of worried-looking shipping executives in Athens last week for the Financial Times' World Shipping Congress. On the conference fringes, all were examining the implications of a sudden breakdown of key networks of...

read more »

Shipping must “retrench and downsize” 09-10-2008

Athens: There is no “China factor” to provide new demand and thus mitigate the over-supply of ships in the months ahead. The shipping markets face stormy weather which will continue for several years. These are the views of ship...

read more »

A rocky road to correction? 09-10-2008

BAD NEWS travels fast. And these days that means minutes rather than the days it took for news to spread of the 1970s oil crisis, for example. Reaction times are shortened and as a result market volatility is heightened. Commenting on...

read more »

Don’t treat ships as betting chips 07-10-2008

SHIPPING markets are due for a major correction and recent financial turmoil makes this both imminent and inevitable. Ship financier Paul Slater isn’t mincing his words. He will warn a Financial Times shipping conference in Athens next...

read more »

Shipping and Storms Ahead 03-10-2008

Expect the largest and sharpest correction in shipping for more than three decades, says ship financier Paul SlaterThe Chinese industrial revolution has resulted in a bonanza for shipping for the last five years, says Paul Slater, First...

read more »