Bank lending is still the main source of raising capital in shipping industry despite the huge problems of liquidity faed by the banks involved in the ship finance. However, a certain number of banks proceed to anticyclical financing securing remarkable profits due to higher interest rates and margins. Another positive development is that Greek owners [...]
Adonis Georgiadis, deputy minister of Development, Competitiveness and Shipping said that he is opposed to every measure that reduces the competitiveness of shipping. In view of this philosophy he prepares a concrete piracy legislation. Georgiadis said the legislation will be in line with respective IMO decisions. It provides for upto six armed private guards on [...]
With traditional sources of capital unavailable we are currently seeing more interest than ever before from alternative capital providers. The options for a shipping company include debt restructuring less severe strategies (amend debt terms, waivers, refinance debt and more severe strategies file for bankruptcy protection and sell assets). Analysts suggest that shipping companies need to [...]
The Greek shipping community is waiting for government’s proposal regarding the creation of an environment in Greece which will enable them to invest more proceeds from the shipping industry to the country, by opening new horizons for the shipping industry. Shipping is Greece’s biggest industry. Its direct contribution to the country runs to to €140bn [...]
By Stefanos Papandreou
Governmental un-decisiveness continues regarding adapting a firm shipping policy and after two reshapes the Greek shipping sector was integrated to a newly named ministry, Development, Competitiveness & Shipping under Michalis Chrysochoidis (minister) and Charis Pamboukis (deputy minister). As it was expected the Greek shipping community did not welcome this development which will not be an [...]
The dry bulk market experiences a “long & painful” period of weak freight rates and if owners fail to cut the size of the existing fleet the market will not revive, warns shipbrokering firm Barry Rogliano Salles (BRS). It urges owners to take advantage of attractive scrapping prices to recycle ageing tonnage at the earliest [...]
By Stefanos Papandreou
By Stefanos Papandreou
by Stefanos Papandreou
