Concerns about bias among offshore carriers' banks

Partiality problems cannot be ruled out when a shipping bank serves as a creditor while also consulting carriers in financial turmoil through its brokerage department. This debate is intensifying up in Norway.

BY CHRISTIAN BARTELS

There could be a bias issue related to the fact that a bank can provide a loan to a carrier while also serve as a consulting brokerage company for the same carrier when its asset values face upgrades or impairments, or seeing as the negotiations regarding loan provisions take place with the same bank.

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