Ship Financing

Start date: 28th Feb 2019, 19:00
Venue: ACM, Monaco
Speaker: Mr. Paul Packard - Managing Director, Merchant Prospect Limited

Topic description:


Over the past 30 years the ship financing landscape has changed beyond all recognition, this has been especially evident in the last 10 years.

The financial crisis and subsequent shipping downturn combined with poor lending decisions led to significant non-performing loan portfolios and increased oversight, regulation and capital adequacy requirements, creating a perfect storm for traditional ship finance banks.

This has resulted in a multitude of lenders retrenching, either by exiting the business completely or scaling back their operations.

It is not all bad news though as the vacuum left has begun to be filled by a combination of alternative lenders, leasing companies – especially from China, and new or re-emerging banks.

In this presentation we will discuss the reasons that traditional banks have exited the sector, identifying significant players that have departed and those that remain.

We will also cover the new sources of finance that have come into the market in recent years, be they lessors or lenders.

Typical terms provided by lenders today will be outlined, together with what Borrowers are currently expected to provide in order to access finance.

We will conclude by attempting to provide expectations for the future development of Ship Financing with the opportunity for questions and answers

CV:

Paul Packard is Managing Director of Merchant Prospect Limited, a full-service Maritime Consultancy company which is involved in the arranging of finance for shipowners, providing advisory services to lenders and borrowers on all aspects of ship finance and assisting a number of market-leading companies market their products and services to the shipping community.

A financier by background, Paul has worked for a number of ship finance lending banks since 1989, most recently as Head of Maritime Industries at Bank of Ireland for 14 years until the summer of 2016. Over the past 30 years he has established relationships with shipping companies and lenders worldwide.

Paul has spoken at a number of conferences, training courses and events on ship finance matters and was Contributing Editor to the Institute of Chartered Shipbrokers course book Shipping Finance.”