World shipping

From every direction and for all to see, the tsunami is now falling down on our heads... directly from above. -- MCR

For Shipping Sector, More Defaults on Horizon

WSJ, 

2 March 2012

The global slowdown in the shipping industry is claiming more victims, and industry experts expect more defaults as heavy debt loads and tight financing squeeze the weaker players.

The shipping industry, often seen as a barometer of global economic health, has been hurt by high fuel costs and a slump in trade that has suppressed rates. The retreat of lending from European banks—which traditionally account for the bulk of shipping finance—has further clouded the industry's outlook."

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