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At least with respect to the shipping/offshore finance world, Oslo, for the moment, is the center of the universe. Since our move into publishing, approximately six years ago, we have never encountered the volume of deals derived from a single source in such a short period. Beginning with Teekay Offshore’s offering on January 16th, the Norwegian bond market has successfully concluded six transactions in the offshore space and has at least two deals including one shipping deal pending.

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On Monday, Costamare Inc. filed a shelf registration on Form F-3, which covers only new issuances by the company and not secondary issues by the principals who have no current intention to sell.

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If you have to restructure and use Chapter XI, take a page from Genmar, where a pre-negotiated restructuring proposal has been filed. The effort would seem to have been put together with maximum chance for all parties from banks, to trade creditors and the bondholders to approve the deal and the company to go into and then come out of the court with speed giving it a better than fighting chance to be a successful commercial company – assuming a modest recovery in the tanker markets - again.

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Mr. John Fredriksen always seems to be a step ahead. Today, Seadrill Limited announced that Mr. Esa Ikaheimonen, its CFO, will be leaving the company to pursue other opportunities. While we wish him good luck, Mr. Ikaheimonen should take comfort in the fact that two people are now needed to replace him.

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