Shipowner to equity funds: Stop buying ships

Equity funds that invest in shipping are undermining the market when they only invest in new tonnage. The funds should also look into second hand tonnage, according to the major Greek carrier Tsakos Energy Navigation in Financial Times.

BY LOUISE VOGDRUP-SCHMIDT

The arrival of equity funds to the shipping industry has been a booster for many desperate carriers over the last five years, but the funds are also contributing to destroying the shipping market, according to the Greek shipowner, Nikolas Tsakos, who is the CEO of the tanker carrier, Tsakos Energy Navigation.

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Shipowner to equity funds: Stop buying ships

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

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Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

UK Chamber of Shipping calls for more trade-friendly policies

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs