Chapter 722 Peninsula Orient
In fact, even Goldman Sachs’s loan of 1 billion euros is not non-deferred. Anyway, they can still get interest during the period.
Just like in Barron's previous life, this loan was extended to 2019, and then continued to be extended to 2037...
After all, for a country, credit default But in a very serious matter, once the loan is due and cannot be repaid, and an extension cannot be reached through negotiation, it will cause a national credit default, which will affect But for their entire national debt system, not only the previous national debt will face calls, but also if they want to issue new bonds, no one will be willing to buy it...
Although starting next year, Greece will gradually face calls. They are in a situation where their debts are due and they have no money to repay them, but I believe that normally, by paying off old debts with new debts and extending agreements, they can still ensure that they will not default.
It’s just that the interest on the new debt is higher...
But this is a normal situation. If Barron’s cooperates with Wall Street capital including Goldman Sachs, LCR Rothschild, the underwriter of CDS, If the German Group launches an offensive, the Rothschild family will inevitably face huge compensation.
Coupled with their previous losses, it will be a fatal blow to the Rothschild family.
You know, according to the data they have at Barron's, the total number of CDS insured by LCR Rothschild Group at this time alone exceeds 10 billion euros, of which the CDS that will mature within two years exceeds this amount. Half of them.
Of course these CDS will bring them continuous premium income, but once the black swan event breaks out and the Greek government is unable to repay its debts, these debts will need to be repaid by the LCR Rothschild Group.
...
Before Christmas, the Global Industrial Investment (GII) Fund finally completed negotiations with Dubai World Group. They finally finalized the purchase of the British property they had previously acquired for US$6.3 billion. Railway Group.
The price of this transaction is compared to when Dubai World Group acquired the Railway Group, causing them to lose US$500 million. However, in the current economic situation, and Dubai is in urgent need of funds to survive Its sovereign debt crisis is therefore an acceptable outcome for them.
This transaction will be completed before February next year. The only thing needed now is to pass the review by the EU and the United States.
According to Barron's plan, after completing the acquisition, Tiehang Group will be renamed Peninsula Oriental Group (in fact, its English name has not changed much, it is still P&O, but its Chinese name will be Tiehang Group) Bank Group was changed to Peninsula Oriental Group).
In addition, they also hired Ed Christian, its senior vice president from Maersk, the world's largest shipping company, to serve as the chief executive officer (CEO) of Peninsula Eastern Group.
The new CEO of Peninsula Oriental Group claimed in an interview:
“Next, we will complete the integration of the entire group’s business and negotiate with the United States to accept the The management business of 6 ports and terminals without hosting..."
Aiming at the collection Regarding the group’s future development plan, he said confidently:
“The GII Fund is very supportive of the future development of our Peninsula East. After the capital injection, we will strengthen the once-cut maritime transportation through mergers and acquisitions and new shipbuilding. business, striving to make Peninsula Oriental one of the top shipping companies in the world.”
As Ed Christian said, the current main acquisition target of Peninsula Oriental Group is the Greek Costamare Inc.
If you look at the ranking of shipping companies, you can mainly see large shipping companies such as Maersk, MSC, CMA CGM, and COSCO. There does not seem to be a Greek company among them... This seems to be different from the impression. Greece does not live up to its image as a shipping power.
In fact, the shipping industry has developed over the years, and the division of labor has been refined into ship owners, shipping companies, and ship management companies... The difference can be simply understood as the fleet and the owned and operated companies anchored under it. The relationship between the owner of the vehicle and the small fleet.
The fact is that most Greeks are shipowners, but the shipping companies they run themselves are not large.
In addition, Greece as a whole owns a lot of ships, but there are also many ship-owning families, so dividing the ships of each family is not so scary.
Shipping giants such as Maersk, MSC, and CMA CGM own their own ships and also rent ships. Especially European shipping companies rent many Greek ships.
Just like the acquisition target of Peninsula Oriental Group, Cosme Shipping Company, which is a leading international container ship owner.
Cosmeier Shipping Company, through its subsidiaries, owns a fleet of 82 container ships with a total capacity of approximately 643,000TEU (TEU is a proper noun for shipping and refers to a standard container).
At the same time, Cosmeier Lines also provides services to liner companies that require high standards of safety and reliability, and in most cases it is one of the largest liner companies in the world - Cosmeier Lines & Its predecessor draws on more than 48 years of maritime cargo transportation history, including more than 30 years of container transportation.
Generally speaking, Cosmeier Lines' strategy is to regularly charter its container fleet to a geographically diverse, financially strong and committed group of leading liner companies.
In fact, most of the large international liner companies are customers of Cosmeier. Their customers in recent years include Maersk, MSC, Evergreen, YangMing, and Cosco. , Hapag-Lloyd and ZIM.
Therefore, after acquiring Cosma Shipping Company, the maritime transportation capacity of Peninsula Oriental Group can be greatly improved.
At the same time, they can not only increase the number of their own ships, but also gain access to the ship and shipping management experience accumulated by Cosme Shipping Company over the years, thus improving their service levels.
To put it bluntly, the largest shipping companies in the world currently mainly rely on financial capabilities to operate. Although Greece now has shipowners and crews, it really doesn’t have much money. , so they cannot become one of the largest shipping groups in the world. They mainly rent ships to those shipping groups to survive.
After the GII Fund acquisition, with Standard Chartered-Merrill Lynch as the backing, there will definitely be no shortage of funds. In addition, we will take advantage of the Greek sovereign debt crisis and the relative low point of global shipping to expand. It's the perfect time.
Speaking of which, the previous Tiehang Group has been reducing their shipping business, which is not a bad thing for the current Peninsula Oriental Group.
After all, in comparison, the commission required by British crew members is very high, and there are also requirements such as holidays. Now when Peninsula Oriental Group expands its shipping business, it hires cheap crew members from third countries. Crew, their expenditure in this area is only one-quarter to one-third of the previous employees in England...
It can be said that their salary expenditure has been greatly reduced, and they do not have so many requirements. ...
This also means that through this method, the profitability of the shipping business will increase and the competitiveness will be improved.
(End of this chapter)