Heard on the Street – Hamburg Special

This week we are in Hamburg for our 8th Annual German Ship Finance Forum and, as one might expect, this small in size but large in importance shipping center is undoubtedly feeling the pain. Largely focused on container shipping, the KG model, which is the unique and dominant financial product here, benefited from the buoyancy of the credit and shipping markets and is now exhibiting weakness and is in need of repair. But the situation cannot be described simply in black and white terms. Although the problems are prevalent and the continuous flow of bad news exacerbates it, there is an underlying belief that the problems will be solved and there is a future, albeit different. And whether that future is good or bad is irrelevant, it will be dealt

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