Clarksons

Clarksons Research has reported that the coronavirus recession created tremendous disturbance in 2020. In Q1 2020, ClarkSea Index point of earnings of $11,000 per day 50% below that logged in Q4 2019. $11,000 per day earning is remarkably well below the post-financial crisis average of $12,250 per day. Bulk carriers were earning better in Q3 2019 than Q1 2020. According to Clarksons’ report, volatile shipping markets are severely affected by coronavirus recession. 1-June-2020

London based shipbroker Clarksons rewarded employees. CEO Andi Case and CFO Jeff Woyda returned 30% of their bonuses as executive remuneration packages to reward Clarksons’ employees. In 2019, CEO Andi Case and CFO Jeff Woyda returned around $1.6 million to Clarksons’ employees as a reward. CEO Andi Case and CFO Jeff Woyda has been returning 30% of their executive remuneration packages to the employees for the last ten years. Clarksons’ CEO Andi Case has been paid a basic salary plus bonuses as executive remuneration packages. Last year, CEO Andi Case was paid £550K as a basic salary and £3 million as bonuses. In 2019, Clarksons reported a 10% increase in profit. However, London based shipbroker Clarksons was criticized by shareholders to change Clarksons’ executive remuneration policy. CEO Andi Case and CFO Jeff Woyda’s contracts were signed in 2006 which differ from current norms of London Stock Exchange-listed companies. CEO Andi Case and CFO Jeff Woyda are phenomenal managers for giant shipbroker Clarksons. CEO Andi Case and CFO Jeff Woyda are credited with developing Clarksons into the shipping industry leader today. London Stock Exchange-listed Clarksons’ Annual General Meeting (AGM) will be held online due to coronavirus pandemic. CEO Andi Case and CFO Jeff Woyda have been contributing a substantial value to the Clarksons and their contracts will not be changed. Thus, Clarksons send a very negative message to multiple stakeholders about the topic. According to Clarksons, shipbroking is a commission-based business. CEO Andi Case and CFO Jeff Woyda’s executive remuneration packages are in line with commission-based businesses. As a shipbroker and Chief Executive Officer (CEO), Andi Case has a dual role at Clarksons. Andi Case is a leading fee-earning shipbroker and chief executive officer for Clarksons’ strategy and management. Since Andi Case became the CEO of Clarksons in 2008, Clarksons’ stock price increased around ten times. In 2019, Clarksons’ Annual General Meeting (AGM) CEO Andi Case and CFO Jeff Woyda were elected by the tremendous support of shareholders. 11-April-2020

London-listed shipbroking giant Clarksons was targeted by hackers in other words cyber-criminals last week. Clarksons is working with London police for stolen data that may be released by hackers. Clarksons CEO Andi Case told that this cyberattack has
not affected Clarksons’ ability to do business. London-listed shipbroking giant Clarksons is working closely with specialist cybercriminals police teams and data security experts to protect clients’ databases. 3-December-2017

Italian dry cargo and heavy-lift shipbroker HP Shipping is opening an office in Switzerland under the name of DNP HB Shipping. Switzerland DNP HB Shipping will be managed by Edoardo Olivari. Italian HP Shipping was established in 2009 by Maurizio Gozzi and other shipbrokers left Clarksons. There are huge concerns over the future of the Italian dry cargo business after the sale to Arcelor Mittal which is Europe’s biggest steel plant. 20-July-2017

South Korea based shipowner and operator Pan Ocean is buying 2 Japanese 2012 built kamsarmax dry bulk carriers from bankrupted shipowner Hanjin Shipping. South Korea based shipowner and operator Pan Ocean is buying 82K dry bulk kamsarmax bulk carriers M/V Hanjin Hadong and M/V Hanjin Port Kamsar for $21 million each. Clarksons is sale and purchase brokers of 6 dry bulk carriers on behalf of Korea Development Bank (KDB). 19-May-2017

Clarksons Research Services is predicting seaborn growth in the dry bulk market in 2017. Clarksons Research Services MD Steve Gordonforecasts growth in dry bulk will be 3.5% in 2017. Clarksons Research Services MD Steve Gordon estimates that the dry bulk market will move away from the ‘bottom’ of the cycle in 2017. Shipyards supply increased to 100 million DWT, but shop deliveries are forecast to slow through 2018. 12-April-2017

Clarksons Platou Securities’ Analysts inspected  New York-listed and lately restructured Genco Shipping & Trading with a “buy” rating on the stock. According to analysts New York-listed and lately restructured Genco Shipping & Trading $17 per share target price is well-placed to benefit from rising dry bulk carrier market. Shipping analysts marked that trade at a discount relative to Net Asset Value. Clarksons Platou Securities’ Analysts estimates that Net Income of Genco Shipping will rise to $74 million in 2019. 4-April-2017

John Fredriksen stopped doing business with shipbroker Clarksons Platou. John Fredriksen worked with Clarksons for 50 years and now-departed ways. The reason might be Clarksons broking 2 jack-up rigs to John Fredriksen’s former right arm Tor Olav Troim. John Fredriksen has his own sale and purchase broking house which was set up in partnership with Arctic Securities at the beginning of 2016. 20-December-2016

Collapsed Hanjin Shipping’s 16 vessels, worth about $300m in total will be sold by Korea Development Bank (KDB). Eight shipbroker companies have submitted applications to the Korea Development Bank (KDB) ship sale. Independently applied by Clarksons, Fearnleys, Maersk Broker. Howe Robinson, Arrow Shipbroking, Braemar ACM, and Simpson Spence Young are bidding in tandem with South Korean partners. Korea Development Bank (KDB)’s 16 vessel sale applications were due in at the start of this week and a selection is expected by the end of it. Korea Development Bank (KDB) is understood to have asked shipbrokers to advise on whether they should sell the vessels now or wait for further market improvement. South Korea’s largest shipping company Hanjin Shipping, filed for court receivership on 31 August 2016 after months of trying to raise liquidity and restructure its debt. 15-November-2016

Simpson Spence Young (SSY) named Mark Richardson as its next chairman for retiring John Welham. Mark Richardson is a former Clarksons’ dry cargo and futures broker. 8-March-2016