Shipping has made slow but steady strides on the consolidation front in the past few years, but may be challenged to keep up the pace in 2019 because of market conditions, a top advisory expert says.
Mark Friedman, senior managing director at New York investment bank Evercore, cites “struggling share prices, discounts to asset values and scarcity of financing” as key factors that are making share-based mergers and acquisitions less likely compared to a better consolidation environment during a busy 2018.
