Just when we thought it might be possible to borrow, the European debt crisis reappeared in full force. If you need data to support what we all know anecdotally, Dealogic’s Global Shipping Tables for 1H 2012 provide it. In a startling reversal from last year, syndicated marine loan volume declined 57.4% from approximately $35.3 billion (120 deals) to $15 billion (76 deals). For perspective, we have included in the graph below comparative data from the last ten years. Clearly 2011 was the year of false hope.