New lenders bet on traditional values: "We understand the sector"

The banks' exit from shipping has created a hole in the market for new lenders such as Breakwater Capital, which bets on values such as trust and deep knowledge of the sector. Shipowners need continuity and security in an insecure world, says CEO.

Photo: Breakwater Capital / PR

Several new lenders, which have entered shipping after the banks have left, sell themselves on traditional virtues.

Since the financial crisis in 2008, the banks have cut hundreds of billions of dollars from their loans to shipping. And the banks that are still lending money for ships prefer to work with major shipping companies that also buy other financial services.

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