Bankers are Getting Busy

By Matt McCleery

Bankers are busy these days. One reason is that there are a lot of deals in the market. Another reason is that shipping desks are consistently short staffed. Or maybe it’s because Teekay Shipping held its bankers meeting in Germany last week. Since Teekay bankers now include all those who financed Ugland Nordic, Bona and Teekay, nearly every shipping banker on the planet was away from his or her desk for a few days. As one cynical shipping banker said, “a bomb going off at the Teekay bank meeting is just about the only way enough capacity would come out of shipping finance to actually push pricing up to where it belongs.”

There are also quite a few new shipping deals coming to market in the second quarter and third quarters. One reason for this is that the tanker market looks strong into 2005 and companies are structuring their debt accordingly.

This is only an excerpt of Bankers are Getting Busy

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