Intermarine's 2015 decision to take lease-financed newbuildings was not perfectly timed but was necessary to get tonnage suitable to its needs.
"Our segment is not populated by the correct vessels," says chief executive Andre Grikitis.
The problem with much of today’s heavylift multipurpose (MPP) fleet is twofold. Before the global finance crisis, orders were driven by investors rather than customers, and today, “zombie” shipowners acting for bankers are not in a position to rectify the problem by ordering suitable tonnage.
