Greek shipping looking for new opportunities of growth

The combination of lack of liquidity and stringesst criteria of bank lending will lead to contracts complaints and distressed sales. This development may offer to the “liquid” Greek shipowners new opportunities to expand their fleet with younger and innovative ships.

According to shipping analysts the current crisis has forced many banks to sign with trusted and reliable Greek shipowners new loan agreements for the assets in distress which have been taken back by the banks from those owners who failed to pay their contractual duties.
Banks prefer the Greek shipowners to transfer those assets because they are efficient and flexible in the management of ships.

As the analysts predict the transfer of distressed assets will increase in the next months and it is quite sure that Greek shipowners will favour from these transactions renewing and expanding their fleet.

Full article, ELNAVI, Issue 460, April 2012, Page. 8

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