Singapore has been voted the most successful global hub in shipping for several years. This is largely due to government support and, in particular, the pioneering efforts of the MPA (Maritime and Port Authority of Singapore). On Sept. 22, we had the honor of having the Deputy Chief Executive Yi Zhuan Chin of the MPA give opening remarks at our 25th Marine Money Week Asia conference.

“Why are you selling equity in your ship?” I asked a friend.
“Because,” my friend replied. “I didn’t want to miss the chance to sell something in this hot market. Besides, I was bored in my summer cabin and wanted to do something fun, so I structured the deal.”

Over the past decade, more than two dozen private credit funds have entered the ship finance market. The thesis is well established: as commercial banks increasingly focus their balance sheets and attention on larger clients and transactions, non-bank lenders have stepped in to provide small and mid-sized shipowners, which still represent the vast majority of the shipowning community, with fast, flexible, and reliable capital.