Subscribe to RSS feedGloomy outlook for Asia lines
MOST Asian shipping companies will continue to face a tough operating and credit environment this year, according to a report from prominent ratings agency Fitch. Of the seven Asian shipping concerns rated by the agency, three are regarded as either on “negative outlook” or on “negative rating watch”, including Indonesia’s Arpeni Pratama Ocean Line and Berlian Laju Tankers and India’s Varun Shipping.
Fitch’s reasoning is that weakened earnings and restricted access to capital will remain challenges for these companies.
High levels of committed capital expenditure will also hit liquidity, as the lowered value of shipping assets will reduce room to manoeuvre under...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
