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Shipping banks warn that the cost of money has become too cheap

Several shipping segments are headed for tough times, but this is not reflected in the price of lending money for ships, say several financial institutions.
”The competition is there for lenders to keep up their book [...] much to the benefit of owners who are looking for money," says Martin Van Tuijl, head of ship financing at First Citizen Bank. | Photo: Mike Blake/Reuters/Ritzau Scanpix
”The competition is there for lenders to keep up their book [...] much to the benefit of owners who are looking for money," says Martin Van Tuijl, head of ship financing at First Citizen Bank. | Photo: Mike Blake/Reuters/Ritzau Scanpix
by JENS THOMSEN

HAMBURG

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