A recovery in the shipping market is some ways off, projects investment bank Fearnley Securities. The past year was a dreadful period for raising capital in the sector, and this was due to the pandemic.
Hafnia could be worth more than USD 1 billion a year from now, says an analyst from Cleaves Securities. Commenting overall, he explains that it has become more challenging to raise money in shipping, though he sees this as a positive sign.
In step with traditional shipping banks clamping down on loans to the industry, alternatives such as bonds are gaining traction, says investment bank Stifel which believes the trend has reversed in 2017.
Despite protracted and crushing pressure on the shipping sector, several companies may not have reached the bottom yet. Ten analysts list their pick for the shares they believe will lose additional market value. One company stands out in particular.
Seaspan, one of the world's biggest shipowners, will sell shares and secure debt for USD 1 billion. The company has been hit hard by the shipping crisis and the collapse of South Koran container carrier Hanjin Shipping.