Market Commentary

Good news and bad news depends entirely on your perspective, and this reality has been thrown into relief by the events of today’s ship finance market. For every tragic story of a shipping company going under, there is a corresponding story of another that was able to take advantage of the opportunity provided.

At the same time, industry observers across the board have begun to insist that a great deal more bankruptcies are necessary before any sort of real recovery can be begin. Moreover, they worry that any sort of pseudo-recovery over the next six to twelve months – especially a renewed availability of finance – will only reduce the number of newbuilding cancellations, extend the existence of problem loans, and push off further the hope of an ultimate recovery.

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