Basel III takes a bite out of aircraft and shipping finance

Aircraft and shipping firms are finding it harder to obtain bank loans – in part because of Basel III. Funds and other non-bank lenders are ready to take up some of the slack, but some companies may not be able to access this new source of cash. By Michael Watt


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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