DSF: Banks never sell at bottom price

Erik I. Lassen, CEO at Danish Ship Finance does not think that banks have to panic and sell distressed vessels to private equity funds or other potential investors, as long as the vessels are liquid, not too old and well-maintained.

It is highly unlikely that the shipping industry will see an international sale of low-price tonnage from lenders even though many shipping companies worldwide have trouble paying their debt.

“In my opinion, we will not see many banks selling vessels they have been forced to acquire to private equity funds or other investors eyeing the opportunity to do a good piece of business. Banks are not inclined to lose capital by selling vessels at the bottom just to experience the vessel being sold on at a 25% profit two years later” says Erik I. Lassen

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