Opportunities in Crisis

By Rodricks Wong

As the credit crunch bites deeper and wider, the tightening of global money markets has pushed relative borrowing costs higher and the shipping sector in Asia has already started to feel the pinch. Many financiers have since scaled back their lending to shipping, a sector they perceive to be heading towards an imminent correction. But for others like Standard Chartered, the recent credit crisis presents significant opportunities to expand their shipping portfolio.

The Standard Chartered Group began life in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863 and the Chartered Bank of India, Australia and China, founded in 1853. With a rich history of over 150 years, the London-headquartered group has been extending its footprint in

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