Rebirth of England

In fact, even Goldman Sachs's 1 billion euro loan is not undeferable. They can still get interest during the period anyway.

Just like in Barron's previous life, the loan was extended to 2019, and then continued to be extended to 2037...

After all, for a country, a credit default is a very serious matter. Once a loan expires and cannot be repaid, and an extension cannot be reached through negotiation, it will cause a country's credit default, which will affect the entire country. In the national debt system, not only will the previous national debts face calls, but if they want to issue new bonds, no one will be willing to buy them...

Although starting next year, Greece will gradually face the situation of having no money to repay its debts as they mature, I believe that normally, they can still ensure that they will not default by paying off old debts with new debts and extending the agreement.

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, to launch an offensive against LCR Rothschild Group, the underwriter of CDS, then the Rothschild family will inevitably need to 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 CDS insured by LCR Rothschild Group at this time alone exceeds 10 billion euros, of which more than half are due to mature within two years.

Although these CDS will bring them continuous premium income, 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 Railway Group previously acquired by them for US$6.3 billion.

The price of this transaction was compared to when Dubai World Group acquired Railway Group, which caused them to lose US$500 million. However, in the current economic situation and the fact that Dubai is in urgent need of funds to survive its sovereign debt crisis, For them, this is an acceptable result.

This deal will be completed before February next year. The only thing needed now is to pass the review by the European Union 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\u0026O, but its Chinese name will be changed from Tiehang Group to Peninsula Oriental Group) 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 management business of the six port terminals that had to be hosted before..."

Regarding the group’s future development plans, he confidently said:

"GII Fund is very supportive of our future development of Peninsula Oriental. After the capital injection, we will strengthen the once-reduced shipping business through mergers and acquisitions and new shipbuilding, and strive to make Peninsula Oriental one of the top global shipping companies."

As Ed Christian said, the main acquisition target of Peninsula Eastern Group is currently 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 seems to be no Greek company among them... This seems to be inconsistent with the image of Greece as a major shipping country. Doesn’t match.

In fact, with the development of the shipping industry over the years, the division of labor has been refined into ship owners, shipping companies, ship management companies...

The difference can be simply understood as the relationship between the fleet, the owners of their own vehicles and the small fleet attached to it.

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, 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 643,000 TEU (TEU is a proper term 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 for the most part is one of the largest liner companies in the world - Cosmeier Lines and its predecessors have drawn on more than 48 years of Maritime cargo transportation history, of which container transportation has a history of more than 30 years.

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 GCS. Their customers in recent years include Maersk, MSC, Evergreen, Yang Ming, Cosco, Hapag-Lloyd and ZIM.

Therefore, after acquiring GCS Shipping, the maritime capacity of Peninsula Eastern Group can be greatly improved.

At the same time, they can not only increase the number of their own ships, but also obtain the ship and shipping management experience accumulated by GCS Shipping over the years, thereby improving their service level.

To put it bluntly, the current large-scale shipping companies in the world are actually mainly operating with financial capabilities. Although Greece now has shipowners and crews, it really has no money, so it cannot become a global shipping group. They mainly rent ships to those shipping groups to survive.

After the acquisition by GII Fund, with Standard Chartered-Merrill Lynch as the backing, there will definitely be no shortage of funds. In addition, it is the most appropriate time to expand at this time of the Greek sovereign debt crisis and the relative low point of global shipping.

Speaking of which, the previous P\u0026O Group has been cutting their shipping business, which is not a bad thing for the current Peninsula Eastern Group.

After all, the commission required by British local crew members is very high, and there will be holidays and other requirements. Now when Peninsula Eastern Group expands its shipping business, by hiring cheap crew members from third countries, the expenditure in this regard is only one-fourth to one-third of the previous British employees...

It can be said that their salary expenditure has been greatly reduced, and there are not so many requirements...

This also means that in this way, the profitability of the shipping business has increased and the competitiveness has been improved.