Sages of Shipping

Often we need a fresh perspective or even confirmation of what we are thinking. We are certain that there is much going on behind the scenes, between negotiations with banks and with charterers. Yet we feel that we are missing the proverbial forest through the trees. So this week we sat down with two close friends who gave us their perspective of what, in their view, is going on today in wide ranging discussions. There are many questions but no answers for the moment.

Historically, there were certain truths about shipping which were inviolate. Credit was always available, supply was predictable and demand was the unknown factor. The world has changed drastically. Today, there is an absence of credit, supply is unpredictable, and demand even less so. And, on

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