Best Shipping Bank of 2000 – Chase Securities, Inc.

The shipping desk at Chase has been very busy this year. Actually what we find most interesting about Chase is that their shipping desk is active every year, but generally with different kinds of deals. There are a couple of reasons why Chase was busy this year. Firstly, Chase has a significant expertise in the tanker sector and are lead banker to some of the biggest tanker companies in the world including Bergesen, Stena, Metro and Hellespont. Deals involving those companies totalled more than $1.5 billion alone. Since 2000 was the year when the tanker market turned up, there were a lot of financing, and refinancing, deals getting done for both second hand tonnage and newbuilding deliveries.

Another factor that accounted for the tremendous amount of business done at Chase this year was high yield restructuring, where Chase was able to combine its shipping skills and relationships with the bank’s balance sheet and reorganization team to add value to a very difficult process.

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