The development of a two-tiered lending market made of "the haves” and “have-nots” among shipowners has in the last few years morphed from a trend into what many see as a permanent reality.
With everyone but “Tier 1” owners pushed into a growing field of “alternative” lenders offering debt at margins ranging from the mid-single digits to the low double digits, much attention has focused on the outcasts’ ability to compete and even survive.
