It has been a long time since shipping held leverage with investors in the US capital markets, and last week's Capital Link New York Maritime Forum was in many ways a reminder of that sad fact.
Leasing companies might be thriving, alternative capital providers busy, Norwegian bond and equity markets open for the right owners.
But delegates also heard of the continued retreat of traditional ship lenders and a grim post-mortem of a third consecutive calendar year without an initial public offering in the US.
