Loan agreements and financial leverage : an analysis of Greek shipping industry
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Keywords
Banks ; Loans ; Shipping Leverage ; Debt Risks ; Trade off TheoryAbstract
For about thirty years, Greece, a small peripheral European economy, has seen its shipping industry positioned at the top of the global league. This success reflects the ability of Greek shipping companies to adapt to market fluctuations and adopt innovative financing practices. The study investigates the impact of traditional bank financing and alternative sources of finance in the shipping industry, such as yard loans, leasing, and stock market listing.
As shipping is a volatile business with sharp fluctuations in charter rates and ship prices, banks try implementing all necessary preventive controls to mitigate the high risks. These measures include rigorous checks, creditworthiness assessments of shipping companies, and the application of agreements that reduce their exposure to risks.
Concurrently, shipping companies are exploring alternative avenues of financing. These include loans from shipyards for the construction of new vessels, leasing agreements that offer flexibility in ship acquisition and utilization, and stock market listings to secure funds from investors. These practices serve as effective tools for companies to manage their financial resources and maintain competitiveness in a globalized environment.
Postgraduate Studies Programme
Ναυτιλιακή ΔιοικητικήDepartment
Σχολή Ναυτιλίας και Βιομηχανίας. Τμήμα Ναυτιλιακών ΣπουδώνNumber of pages
61Language
EnglishCollections
Except where otherwise noted, this item's license is described as
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα