There is a joke in shipfinance circles that 10% is the new 4%.
It is a comment on the new cost of debt capital for those owners who are not fortunate to be large enough, public enough or trusted enough to still receive mortgage financing from the traditional shipping banks.
While owners considered to remain in that elite “Tier 1” group can still borrow at 4% or even lower, traditional lending may simply be unavailable for virtually everyone else amid increased regulatory pressure on banks.
Those
