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Stormy times
Shipping companies are facing difficulties to get bank financing as the credit crisis has drastically reduced the appetite of conventional banks. Several shipowners has been forced to cancel or postpone their orders of new vessels and therefore to delay the upgrade of their fleets. The world’s economy could suffer of this lack of financing because it relies on the shipping industry to transport the world’s trade. Shipping remains as the most economical and effective means to carry much of the world’s goods. Shipping being crucial for our economy, the demand for shipping services will always be significantly high and the demand for financing to facilitate the construction and purchase of vessels ensures shipping financing to be prominent...
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