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KBRA Releases a Report on the Shipping Industry

December 17, 2018

NEW YORK--(BUSINESS WIRE)--Dec 17, 2018--Kroll Bond Rating Agency (KBRA) releases a new report: .

Over the last few years, the shipping industry has seen an increasing number of reorganizations and mergers in an attempt to rectify years of overbuild. Across most sectors in the industry, vessel supply has exceeded demand, prompted by affordable financing in a low interest rate environment. Bloated fleet sizes have driven down hire rates and reduced utilization levels, resulting in lower revenues. Consolidation should lead to stronger surviving participants in the sector. Recently announced merger agreement, such as the one between Diamond S Shipping and Capital Product Partners L.P., could ultimately provide surviving firms with better access to debt and equity markets. In the meantime, alternative sources of funding, including the private placement market and private credit funds, are likely to be increasingly popular.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181217005808/en/

CONTACT: Analytical Contacts:

Manish Consul, Senior Director

(646) 731-2395

mconsul@kbra.com

Christopher R. Prial, Associate Director

(646) 731-3397

cprial@kbra.com

Van Hesser, Senior Managing Director

(646) 731-2305

vhesser@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TRANSPORT MARITIME PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2018.

PUB: 12/17/2018 04:03 PM/DISC: 12/17/2018 04:03 PM

http://www.businesswire.com/news/home/20181217005808/en

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