We are trying to spread the investments of our but see all the time on the opportunities for bargains in the shipping and offshore. There, it can show up things now. And we are in a situation where we are sitting on a solid cashbeholdning and can act quickly, ” says John Fredriksen.
For what On understand, sitting toppselskapene in the Fredriksen group, with a cash balance of approximately 4 billion dollars, 30 billion.
Friday was a ship owner and offshoregründeren busy to want business associates, friends and members of the executive staff welcome to this year’s julelunsj at Theatercaféen in Oslo.
He had a little something to celebrate: yesterday wrote On that changes in value and distributions from the largest listed companies the group has invested in total close to 7 billion in the last year.
in the Middle of the day there was congestion outside the restaurant’s entrance. A large number of dark coats, nypussede shoes and überkledde shipping and financiers had braved the cold to participate in the Fredriksens julelunsj. A and another minkpels was deleted medhårs of the men in the silk scarves on the way into the venue.
Fredriksens tvillingdøtre Cecilie and Kathrine Astrup Fredriksen was driven to the entrance door in each of his car and went in via the hotel entrance. As a response to the tight-fitting hats and knepte coats, stood the alone to raise the level of the guests ‘ outfits.
Tags stock market decline
– Are you satisfied with the year?
– I was well pleased the last stock market decline. The stock markets have fallen quite sharply, something we naturally notice.
Fredriksen thinks it looks better for the time to come:
– Next year there will be enough uneven due to the political situation in the world, with the danger of an escalating trade war. This provides spin-off effects for the shipping industry and can also affect the oil and offshore.
In offshore, it is furthermore a tilleggsproblem. Overkapasiteten that has built itself up both in the rig and offshore service means that it takes longer than many thought to get the rates up at a level that allows the shipping companies can start to earn money again.
– You have hired new employees that will be using the time on the long-term, strategic investments in companies where the group has a strong degree of influence and control?
– We try to spread ourselves a little, but in a way that allows us to not only be a passive investor in mutual funds or individual stocks. We are open to take new positions in companies where we can be with on to influence the development and have a decisive influence.
No warranty
– We should not put all the eggs in the shipping and offshore, where it has been very bad for a few years until it turned up a little again, ” says Fredriksen.
at the same time we see us, of course, all the time looking for what pops up in shipping and offshore. When some problems occur, we can react quickly. And the shipping and offshore are the industries we can, ” he says.
Offshoremekler Paul F. Nordgreen in the Arctic Offshore International can not provide Fredriksen any promise of a quick increase in the rig and offshore service:
– We have to look forward to 2020/2021, it is what people believe now. But no one can guarantee it. The picture is complicated by oil prices and uncertainty about the trade restrictions, says Nordgreen.
For my own part he is well satisfied with developments in the year:
” We have done very well, not at least within the purchase and sale of rigs, where we secured us talented people who previously worked in the Pareto system and hijacked many dealer.
Produkttank for Mohn
From Bergen came Trond Mohn, who looked forward to a pleasant afternoon at the Theatercaféen:
This is very nice.
About the year as soon fades away he says:
I’m always happy and grateful. There is much to rejoice over
– What do you think most on for next year?
– I have purchased three product tankers, ” says Mohn, which confirms that it is he stands behind the acquisition of the 2010-built “Gan Tribute” and “Gan Triumph” of the type MR (medium range) 51.600 dwt.
On talked about this trade 30. november, but the buyer was then unknown.
In the year secured Mohn a 47.000-tonner of the same type. The sails today under the name of “THE Alice” and has the Norwegian flag. The commercial operations of the noted this spesialtankskip is handled by THE Shipping, company Mohn the owner together with the ship owner Johan Odvar Odfjell in Bergen.
there Will be even more ships next year?
– No, now hold it. But produkttank is good, ” says Mohn.
Lower the growth
Thorstein Selvik in ACE Capital bet on to get both julelunsjen at Fredriksen of the Oslo and fredagskveldens traditional julemøte in Bergens Rederiforening.
– I’ve booked me into a late ettermiddagsfly, so it should go smoothly, ” says Selvik.
He is very unsure of the development in 2019:
– trade restrictions and trade war makes that the growth is lower than it has been. I think the central banks will have to lower the rentebanen so that it gets a more advantageous profile. Some of the problem is that people have a lot of debt, ” says Selvik.
Among the guests were also skipsmekler Tore Mæhle.
– It is not so much I have to say apart from the fact that John Fredriksen has perpetual good eye and still great vitality, ” he says.
Mæhle has followed the Frontline shipowner as mediator in a number of years and have by what On know former helped to negotiate both the nybyggings – and multiple purchases, and terms for Fredriksen.
Politics and Twitter
Meklertopp Knut Brundtland expect that the market will normalise in 2019 and that the markets will be fully open again within a few months.
gro harlem Brundtland in ABG Sundal Collier would not Fredriksens lunch. He had been at lunch with a different profile shipowner, Herbjørn Hansson.
Together they came satisfied, and very satisfied from the restaurant.
– Take a picture of the nice man here, lo Hansson and posed benevolent together with gro harlem Brundtland in front of Finansavisens photographers.
the Mood was great, despite the biting cold in the centre of Oslo on Friday and a generally cool environment on the stock exchanges the seineste time.
the Oslo stock Exchange closed at its highest level ever 25. september, but has since fallen 12 per cent, which has received a great deal of influence on both companies, investors and meklerhus, including in the form of more initial public offerings have been cancelled.
” It has been a good year all the way to the end of the third and beginning of the fourth quarter, summarizes the Brundtland and pulls out politics as a main reason for the troubled børsklimaet.
And not least, there is a tweet from America who has created a lot of turmoil, ” he says, and refers to the us president Donald Trump.
– It has been difficult to make the dealer, but we get it, ” states Brundtland.
– What are the expectations of 2019?
It is that it gets better again and that we’ll be back to normal, ” says gro harlem Brundtland.
More financial news:
Fredriksen seven billion richer
See kjempepotensial in Fredriksens laksefabrikk
