GD DAY! FM S.T.I.C, PIRAEUS / FROM: MR. ANASTASIOS MARASLIS
===
Dear Friends, Clients, fellow Shipbrokers and Ship Managers, Charterers and Traders, Shippers and ShipAgents,
'FOLLOW THE MONEY'.
By Mr.Anastasios Maraslis
President/Director
Global shipping is facing one of its greatest challenges ever.
A major restructuring is taking place which, although necessary, it has been "brutally" enforced by a global economic crisis that started in banking sector after the collapse
of Leehman Brothers in 2008 and its after shock catastrophic effects are experienced throughout Europe, nowadays!
Shipping 'bubbles' have been experienced again in the past during the Golden Age of Growth in the 1960's; a 'bubble' in the 1970's followed by an oil recession and a
deep crisis in the 1980's which was followed by a shipping freight rates turmoil and depression in the 1990's (an economic crisis that started in the fastest growing economic region
of the world in Southeast Asia, and spread to the rest of the world) with an incredible rise in freight rates in 2003 until 2008.
-The main characteristic in shipping cycles since 1960's is the bankers' 'REACH AND WITHDRAWAL' pattern!
-Since shipping is a capital intense driven industry, shipping is directly associated with the banking system and is heavily dependant from the availability of ship finance or other lending sources!
-Before 1960's, shipping was a private equity driven business and most of the shipowners were privately funding their assets retaining business profits and re investing them in their business.
-Since bankers, thirsty for bigger deals and higher profits, entered the ship finance business, to finance big projects of large newbuildings, shipping turned to be, literally, A BANKERS' PLAYGROUND!
It is a fact that when funding is abundant, shipping prospers, when funding is scarce shipping collapses, leaving borrowers fighting against all odds to pay back the loans and interest
rates in a cash dry environment with insufficiency of cargoes and an overcapacity of tonnage -which is.... highly mortgaged to bankers-
These days we are experiencing the same pattern and ship finance is almost non existant. Commercial banks have also withdrawn their credit lines and exports are dramatically declined.
The above causality analysis might look rather raugh and brief but is purposely given in its most simplistic way to be read and understood in the speed of our daily business.
Bankers are not - in their majority - shipping oriented or shipping sensitive and as such they too often deviate from shipping fundamentals, withdrawning their support, when most needed,
leaving borrowers to struggle alone their survival battle.
The paradox which explains the asset bubbles is underlying in the very same banking dynamics.
I hereby urge you to OBSERVE the bankers' dynamics and you will eventualy realise the shipping market trends and vessels' price dynamics, in other words....... 'follow the money'!
Yours truly,
S.T.I.C
Anastasios Maraslis
President/Director.
SHIPOWNERS TRUST INTERNATIONAL CORPORATION
S.T.I.C
Shipping & Trading
SHIP OPERATION/CHARTERING /S&P / TRADING.
S.T.I.C BUILDING - 3, VOUDOURI STR.,- PIRAEUS 185 37 -GREECE.
+30 210 4529500 (TEL), +30 210 4529505 (FAX)
+30 6943 108283 MOBILE/Mrs. Sapfo. /
+30 6945 590744 MOBILE/Capt.Andreas/ MSN: Capt.Andreas_S.T.I.C@hotmail.com
sapfo_m@hotmail.gr /MSN/ Mrs. Sapfo Maraslis
s.t.i.c.chartering-operations (SKYPE)
www.eshipownerstrust.com
chartering@eshipownerstrust.com (Chartering Dept.)
Operations@eshipownerstrust.com (Operations Dept.)
Dry@eshipownerstrust.com (S&P/TRADING Dept.)
info@eshipownerstrust.com (General/Admin.Dept.)
NOTICE
In case you don't want to receive anymore our useful information and articles please send us a message back at chartering@eshipownerstrust.com with the note at the SUBJECT: ARTICLES-UNSUBSCRIBE.
(it is importand to type the words ARTICLES-UNSUBSCRIBE to keep you in our positions/cargo lists).
If again you wish to receive our ARTICLES at an alternative email address please advise accordingly.
