LIVE FROM POSIDONIA: When funding runs dry
Posidonia is famously a gathering place for those interested in taking the industry’s pulse. This year, in the face of the nation’s greatest economic crisis since the hungry 1940s, three questions are being asked: 1) will Greek shipowners leave Greece; 2) will Greece eventually default; and 3) will Greece go back to the drachma. The answers so far, based on a highly unscientific poll: 1) most will stay; 2) probably; and 3) no. Continue reading
LIVE FROM POSIDONIA: Will the EU bail-out be repaid?
Greek bankers here at Posidonia are so far shtum, silent and otherwise not talking, at least in my hearing, about repayment of the recent euroloan, or bail-out. Will it ever be repaid? Can it be repaid–ever? Should it even be repaid? Continue reading
LIVE FROM POSIDONIA: US bankers remain bullish
Judging from the comments made to me by ship finance specialists, the markets in Singapore, London and New York have discovered –perhaps belatedly– their inner thirst for quality, and a marked aversion to risk. Continue reading
LIVE FROM POSIDONIA: Lenders treading with care
Last evening, I attended the American Club’s famously elegant party at the Byzantine Estate, in the back country of suburban Attica. My first Posidonia was in 1976, so I have some experience in the matter. Continue reading
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