Semper Paratus: Or, Some Thoughts if You’re Not!

(Editor ‘s note: Preparedness is crucial when dealing with distress situations.With that in mind, Marine Money spoke with several of the world’s leading ship managers. Some of their thoughts follow.)

Lately it has been fashionable to decry the enormous spreads that shipping companies pay for their high yield debt as compared to similarly rated businesses in other sectors. However, considering that dry bulk rates are almost as low as the depression era mid ’80 and container rates are only slightly better, taken together with a Far East economic situation that threatens to spill further abroad, maybe the capital market are just seeking value for money.

How fast will PanOceanic burn through the extra funds it is currently seeking? Will Millennium will ever pay off its debt? These are legitimate questions given in today’s market.

This is only an excerpt of Semper Paratus: Or, Some Thoughts if You’re Not!

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