Tanker shipowners turn to leasing in tough market
The product tanker market has seen a surge in the number of leasing arrangements, in which shipping companies sell ships and then lease them back. The deals provide good access to capital at a tough time, though they also bring pitfalls.
A special kind of financing agreements – in which shipping companies sell their ships to a leasing company and then immediately lease them back – have flooded the product tanker market in recent years.
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