Stuart Beadnall, a partner at London law firm Stephenson Harwood who made his name in shipbuilding dispute resolution and contract negotiation, says the current crisis is one of the worst he can remember.
Contracting levels are down, the shipping markets are in turmoil and many shipyards are in financial crisis.
“I could say, apart from the banking crisis, it’s the worst period I can remember in terms of lack of optimism,” he says.
