Since 2011, Nord/LB's shipping loan portfolio has been massively reduced by a total of more than €15bn, corresponding to a reduction of almost 1,400 financed ships.

LIBOR has long been the reference rate of choice for USD term loans in shipping. With the end of LIBOR as we know it scheduled for 2021, and a switch to so-called risk-free rates expected to replace it, we look at how market players will need to adapt their practices in new transactions, as well as what this means for existing deals.

Korea's shipping industry still has not recovered from the aftermath of Hanjin Shipping's collapse in 2017. Even today, Hyundai Merchant Marine ("HMM"), the sole remaining national container shipping line in Korea, continues to have a difficult time, struggling with high charter costs and the growing burden from fuel expenses due to higher oil prices.

In what was and still is a highly unusual transaction, Scorpio Bulkers participated in the public offering of the common shares of its affiliate, Scorpio Tankers, in October 2018.

Awilco LNG ("ALNG") is a fully integrated pure play LNG transportation provider, which owns and operates the WilForce and WilPride, two 156,000 cbm TFDE membrane LNG vessels built in Korea in 2013. According to VesselsValue, the two vessels are currently worth $255 million en bloc.

While the numbers of transactions may have declined year-over-year, range, quality, and creativity have not. It is the same old story. The banks continue to limit their risk to the industry generally and to preferred clients specifically. Instead, they have achieved, with their specialist knowledge, a level of success by becoming...

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The lyrics of the song referenced in the title speak to questions about life generally.Somewhat apropos, but more specific, Deutsche Bank's Amit Mehrotra penned an open fan letter to the management of Euronav pondering whether public companies, which are good corporate citizens and stewards of capital, will ever be rewarded?

From generating deal flow to raising capital to communicating with investors, lenders and customers, the COVID-19 pandemic has changed the playbook of leading maritime CFOs. In this week's Marine Money Wednesday Webinar, we are delighted to feature Ted Horton of Seward and Kissel in discussion with Jeff Pribor, CFO of publicly listed tanker owner International Seaways and Alan Ginsberg, CFO of privately-held U.S East Coast tug and barge operator McAllister Towing & Transportation.

Seaspan Corporation walks the talk. Regular communications from the company speak to a constant focus on a capital strategy involving decreasing leverage, improving flexibility, and creating a lower cost of capital.

If the pandemic continues and the recovery is delayed, as much liquidity as one may have accumulated and thought to be sufficient may still not be enough.

They started their shipping careers together and have since been pioneers in building fleets and financial structures and partnerships.
See full speech here.