Marine Money 2024 Highlight

Photo Credit: Tradewinds

Marine Money hosts an incredible three-day event in NYC every summer. A highlight for me was seeing how sophisticated market participants can view the same landscape and arrive at completely different outlooks and corresponding capital allocation decisions.

On Monday, Quintin V Kneen, President and CEO of publicly-listed Tidewater stated that newbuilding PSVs were uneconomical in today’s earnings environment and carried too much technology risk.

Less than 24 hours later, Evangelos M. Marinakis, Founder and Chairman of privately-held Capital Maritime & Trading Corp., took the same stage to explain his more bullish outlook after reportedly placing an order for as many as eight (8) newbuilding PSVs worth $320 million.

Time will tell which outlook holds true, but in recent years Mr. Marinakis has taken big bold bets that have paid off handsomely in both the container and LNG markets. I don’t see why his latest foray into offshore will be any different.