By MUA News -
The global financial crisis is hammering trade and sinking ships
A Singapore-based ship-financer is forecasting that more than a third of shipping companies will collapse this year as the recession hammers global trade and vessel prices, Bloomberg reports.
'Everyday, there is an auction for ships, but who wants them?' Dimitris Belbas, Seafin's head of shipping finance, said yesterday in an interview in Singapore. Seafin is a venture between Eurofin and Japanese shipbroker, Seven Oceans.
Banks worldwide have curbed lending to shippers and other industries on repayment concerns.
Source: http://www.mua.org.au/news/general/shipsunk.html
No comments:
Post a Comment