Ship owners all around the globe face a multi billion re-financing wall to maintain their business. At the same time traditional financiers have broadly exited the ship finance market due to regulatory pressure or reshuffled their focus towards larger ship owners leaving the majority of SME owners largely underfunded on search for new capital providers.
Alternative capital providers and banks with fresh market entrance have realised the potential and are ready to take up the slack left behind traditional shipping banks. They are less relationship driven, tend to focus on the underlying asset and are eager to deploy capital in the most efficient manner.
Today, the whole process of sourcing and benchmarking term-sheets can take weeks. However, it is often the case that ship owners are required to move fast to capture interesting opportunities and by the time they have the funding at hand projects are already gone.