Dimitri G. Vassilacos

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Shipping Debt: When is “Expensive” Not Expensive?

By Dimitri G. Vassilacos 2019-04-06 20:50:29

Anyone who’s been active in the Greek ship finance scene over the last few decades will have vivid memories of negotiating, either for or against a financier, about the Holy Grail of most shipping groups: 10 basis-points-off the proposed interest margin (and, while you’re at it, same about the upfront fee, please). Other clauses, of a more technical nature, and with the potential to cause the borrower multiple amounts of pain compared to interest margin, seemed to be of lesser...

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The Case for Regulatory-Driven Diversification in Ship Finance

By Dimitri G. Vassilacos 2019-01-13 17:41:39

A decade ago, we all knew of at least one shipping company that felt safe receiving its debt financing from a single source (a behavior that was, unfortunately, encouraged by some bankers), and eventually experienced immense pain when some key-lenders abruptly withdrew from ship financing.  Back at that time, sourcing finance from a handful of different - typically European - banks (as opposed to, from a single one), was considered a sound approach...

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