Bank finance and alternative instruments in capital-intensive sectors: the case of global shipping

Theodore Syriopoulos

Chapter 39 in Handbook of Banking and Finance in Emerging Markets, 2022, pp 731-762 from Edward Elgar Publishing

Abstract: The Chapter investigates the dynamic adjustments and prospects in the global financial landscape, following an industry-focused perspective. Commercial shipping, a vital, highly capital-intensive, transportation industry of complex business idiosyncrasies, is selected as a challenging case study. Following the 2008 crisis and the COVID-19 pandemic repercussions, major European and US banks have dramatically reduced or liquidated their ship loan portfolios. Alternative ship financing options have come into play, including private equity funds, and export credit agencies. Asian financiers, predominantly Chinese lessors, offer financial or operating leasing solutions. Sustainability, integrating environmental, social, and governance (ESG) criteria, and 'green finance' are challenging priorities. Green bonds and innovative environmental-friendly initiatives are seen to deploy consistently. A set of disruptive technologies, including digitalisation, automation, artificial intelligence, machine learning, blockchain and cryptocurrencies, can eventually lead to a careful re-evaluation of the shipping business model, inducing critical implications for financial decisions as well.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2022
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