Page 248 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2024

SHIP FINANCE

Evi Platsidaki delves into the main trends and challenges in shipping finance and
expresses confidence that the Greek shipping market will be at the forefront of
upcoming technological developments.

THE GREEK SHIPPING

MARKET IS

WELL-EQUIPPED TO

ATTRACT GLOBAL

FINANCIERS

What are the main trends in shipping finance today?
Over the past couple of years, the most notable trend has been
the increased ability of shipowners to repay a substantial vol-
ume of shipping finance loans prior to their maturity dates. This
trend has been primarily driven by enhanced liquidity resulting
from robust market conditions, alongside a rise in financing
costs, prompting companies to favour equity financing over
debt for their acquisitions and refinancing needs.
This trend has been especially pronounced among larger com-
panies with diversified fleets, which have absorbed a signifi-
cant share of financing from traditional sources like European
and US banks.
Despite these challenges, the past year has seen financiers
adapting rapidly, offering extremely competitive pricing to
secure new transactions. We are also witnessing a surge
in financing aimed at supporting robust newbuilding pro-
grammes, which include the pre-delivery stage, across var-
ious companies.
Interestingly, with major players currently less dependent on
debt, there has been a revitalised interest by financiers in fur-
ther exploring the depth of the Greek shipping market, includ-
ing companies with smaller fleets that resemble the traditional
profile of Greek shipping firms. While the size of a company
remains a critical parameter for some banks, other banks less
constrained by size are keen to establish new relationships.
Furthermore, many companies are increasingly “going local,”
by Evi Platsidaki, leveraging competitive pricing and the capacity of Greek banks
Partner Solicitor at Norton Rose Fulbright to handle larger transactions.

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