Valuation Mayhem: Impairments are Coming, Impairments are Coming

It has to be realized that the traditional method of using NAV to value shipping assets is dead. With banks increasingly asking for capital from owners whose loans may be in some form of technical default, the issue is of paramount importance from Hamburg to London and shipping centers everywhere.

This morning, Moore Stephens Technical Partner David Chopping says, “In recent months, many of the world’s listed shipping companies have released their financial statements. It has been challenging. Companies have, amongst other things, had to consider whether their assets are impaired.”

There is insufficient vessel sale liquidity to

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