Subscribe to RSS feedLenders could push shipping to the brink
by
Rajesh Joshi, New York
—
last modified
Oct 22, 2009 03:30 PM
A WAVE of bankruptcies, company failures and possible mergers in the shipping industry will soon hit the industry, according to leading New York advisor Mark Friedman.
Mr Friedman, senior managing director at Evercore Partners, a consultancy that specialises in restructurings, said lenders and creditors could not stave off their own “day of reckoning” much longer, as they found themselves caught in a vicious cycle of asset...
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