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| Oh, what a global market we live in, ja. "Forecast of a pick up in world trades..." We're betting China is going to just love paying the highest charter rates in two years waiting to load those cheap, CHEAP soys out of Brazil, ja.
Gottlieb
Ship financing sources said recent sales of debt to private equity firms had priced shipping company loans at around a 15- to 20-percent discount to their nominal value.
Some borrowers have gone bankrupt in the slump but those whose loans are being traded are generally in fair shape. But some have had difficulties meeting payments, prompting some banks to try and cut exposure to the whole shipping sector.
“If you are looking at buying shipping portfolios, it is a fantastic time. A lot of those deals were restructured in 2010 and 2011 and last year,” said one shipping financier who said buyers could expect to hold the debt to maturity WITHOUT a major risk of default.
http://gcaptain.com/hedge-funds-buy-shipping-loans/?utm_source=feed...
Edited by Gottlieb 12/19/2013 07:44
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tracking hedgefunds
