The Beginning or the End of the Shipping Investment Funds?

By Alvin Cheng, CEO of PST Management Pte. Ltd. (as trustee-manager of Pacific Shipping Trust)

No industry has been spared from the fallout from the collapse of the global financial markets, and the shipping industry is now feeling the head-on effects of the slowdown in world trade and the reduced demand for shipping services. Currently, there have already been a number of cases of newbuilding cancellations due to the adverse credit constraints and deteriorating market conditions. The trend is set to continue and, in fact, expected to increase in the months ahead.

The shipping industry faces problems created by the collapse of the global financial markets as well as the entry of many non-traditional investors in the past 2 years, which have led to the orderbooks for new

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