Ship evaluations sinking

摘要

Ship evaluations for relatively new dry bulk and tanker tonnage have dropped 50% or more in one year, according to Basil Karatzas, vice president, Projects & Finance, Compass Maritime Services LLC. Karatzas made his comments at "Surviving a Distressed Shipping Market: Loan Restructuring Strategies," a recent semi-nar sponsored by Seward & Kissel LLP in New York City. As an example, he said a 318,000 dwt VLCC built in 2003 was thought to be worth $160 million by the owner in the fall of 2008.