Basel III takes a bite out of aircraft and shipping finance

On the scrapheap

plane-wreck

When times are tough, conventional wisdom has it, you find out who your friends are – and shipping companies have been cosying up to their banks in recent years.

“Since 2008, shipping firms and their bankers have become far more acquainted than they used to be. Rather than meeting once a year for a chat and a glass of champagne, they have had to get round the table several times a year. The firms want to keep their bankers close so they can postpone loan repayments, or get other bridging

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