When Should Shipowners seek assistance from their banks? What is the bank reaction likely to be?

by Kevin Oates

The dry bulk market seems now to be improving again, whether the improvement is sustainable is hard to say. The tanker market continues to be sluggish and many market commentators predict a difficult winter. The question which arises for many shipowners is when to approach their bank to request a restructure and what kind of reaction to expect from the bank. The article below gives some advice to shipowners about how to handle their banks in a tough market. It also warns shipowners about how their banks are likely to view such requests for restructure.

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