TANKER OVERCAPACITY: IS IT A PROBLEM FOR U.S. BANKS?
The report covers a comparison of lending practices, tanker loans versus REIT and real estate related loans, supply-demand for tankers, combination carriers, scrappage, second hand tankers, pipeline competition, world order book, tanker rates, the impact on participants and demand variables. The general impression is that U.S. banks are probably in a better credit position in ship loans than most major banks around the world. The major reason is that, typically, U.S. banks concentrate more on cash flow rather than on asset financing. The conclusions were drawn from an analysis of over 220 mortgage documents and/or loan agreements of tankers under present Liberian registry. For the most part, these documents revealed actual individual ownership, charter details, and financing terms, among other things, and represented 25% of the 879 vessels recorded in the 1975 Tanker Register, by Clarkson and Company, Ltd.
First Boston Corporation20 Exchange Place
New York, NY United States 10005
- Lantier, B F
- Weiant, W M
- Publication Date: 1976-2
- Pagination: 24 p.
- First Boston Research
- Publisher: First Boston Corporation
- TRT Terms: Demand; Financing; Ship operations; Ships; Tanker shipping; Tankers
- Old TRIS Terms: Ship financing; Tanker demand; Tanker economics; World tanker fleet
- Subject Areas: Administration and Management; Marine Transportation; Vehicles and Equipment;
- Accession Number: 00131935
- Record Type: Publication
- Source Agency: First Boston Corporation
- Files: TRIS
- Created Date: May 14 1976 12:00AM