Ship Finance: A New Era

The following is excerpted from a speech which was delivered by Dr. Helmut Sohmen of World-Wide Shipping Agency Ltd. at the Connecticut Maritime Association’s annual conference in March.

In talking about a new era, shipfinancing is one area where there has been some innovation of late, if one does not accept that the bulbous bow or the greater fuel efficiency of modern marine diesel engines are particularly spectacular breakthroughs. This has to do with the globalization of financial services generally, but also with more open financial markets and new instruments, the change in employment patterns for ships, taxation regimes, the gradual reduction in direct subsidies, and the relative lack of long-term equity capital for shipping ventures, for which shipowners however may only have themselves to blame.

This is only an excerpt of Ship Finance: A New Era

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