Bankruptcies and credit risk during lockdown

The cracks in the market have begun to show – bankruptcies are at the door. The interdependence of the maritime supply chain necessitates regular evaluation of counterparties, their customers and suppliers, writes Sebastian Villyn of Lloyd’s List

Shipping was not anticipating the 2020s to be quite the roaring decade. At the beginning of the year, the industry was braced for companies struggling under the cost of implementing the IMO’s new sulphur cap rules, a final shot across the bow for a number of shipowners.