Shipping sees second ‘prexit’ wave amid windfall pandemic shipping profits
Times have changed since many private equity investors, who ‘discovered’ shipping during the prolonged market downturn more than a decade ago, left the sector much poorer for the experience
Private equity providers of debt in the maritime space are sandwiched between banks lending to shipowners with modern assets and unsecured cashflows; and alternative lenders focused on older tonnage and aggressive leverage to get deals done
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