conned by who, page-59

The JV is going to happen, but do not expect that to happen in the current conditions on the ground and on the water.
As far as I can see this will take a considerable time, before any interested party will take pen to paper and part with the usual sign up fee. They will be shot by their shareholders if they did things too hasty.
Even if the UN comes up with a solution regarding piracy etc., the implementation and the longterm success of such an operation can not be judged overnight.
I am not trying to be negative, rather realistic.