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Impacts of the recent financial crisis on ship financing in Hong Kong: a research note

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  • Stephen X. Gong
  • Heng-Qing Ye
  • Yvonne Yiyi Zeng

Abstract

This note presents an initial assessment of the impacts of the recent financial crisis which peaked in late 2008 on banks’ ship financing practices. A survey of banks with a shipping division in Hong Kong suggests that banks reduced their lending to shipping after the financial crisis. Banks also tend to emphasise loan quality and security over market share. Overall, the evidence indicates a lower appetite for risk-taking and more stringent requirements for collaterals and guarantees on the part of banks. Based on the findings, several future research issues in ship financing are highlighted.

Suggested Citation

  • Stephen X. Gong & Heng-Qing Ye & Yvonne Yiyi Zeng, 2013. "Impacts of the recent financial crisis on ship financing in Hong Kong: a research note," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(1), pages 1-9, January.
    • Handle: RePEc:taf:marpmg:v:40:y:2013:i:1:p:1-9
    DOI: 10.1080/03088839.2012.745202
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    References listed on IDEAS

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    1. Yoram Wind & Thomas L. Saaty, 1980. "Marketing Applications of the Analytic Hierarchy Process," Management Science, INFORMS, vol. 26(7), pages 641-658, July.
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    Cited by:

    1. Alexandridis, George & Kavussanos, Manolis G. & Kim, Chi Y. & Tsouknidis, Dimitris A. & Visvikis, Ilias D., 2018. "A survey of shipping finance research: Setting the future research agenda," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 115(C), pages 164-212.
    2. Agata Lozinskaia & Andreas Merikas & Anna Merika & Henry Penikas, 2017. "Determinants of the probability of default: the case of the internationally listed shipping corporations," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 837-858, October.
    3. Mitroussi, K. & Abouarghoub, W. & Haider, J.J. & Pettit, S.J. & Tigka, N., 2016. "Performance drivers of shipping loans: An empirical investigation," International Journal of Production Economics, Elsevier, vol. 171(P3), pages 438-452.
    4. Kavussanos, Manolis G. & Tsouknidis, Dimitris A., 2016. "Default risk drivers in shipping bank loans," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 94(C), pages 71-94.
    5. Sercan Erol, 2017. "Calculation of the freight revenues in Turkey-focused maritime transportation," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 815-824, October.

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