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

Stephen X. Gong; Heng Qing Ye; Yvonne Yiyi Zeng

doi:10.1080/03088839.2012.745202

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

Stephen X. Gong, Heng Qing Ye, Yvonne Yiyi Zeng

Research output: Contribution to journal › Article › peer-review

14 Citations (Scopus)

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.

Original language	English
Pages (from-to)	1-9
Number of pages	9
Journal	Maritime Policy and Management
Volume	40
Issue number	1
DOIs	https://doi.org/10.1080/03088839.2012.745202
Publication status	Published - Jan 2013
Externally published	Yes

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10.1080/03088839.2012.745202

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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.",

author = "Gong, {Stephen X.} and Ye, {Heng Qing} and Zeng, {Yvonne Yiyi}",

note = "Funding Information: This research is partially supported by a research grant of the Hong Kong Polytechnic University (G-YG75). We thank Marine Money for facilitating our data collection and all the banks which participated in the survey. The constructive comments from Kevin Cullinane, Kevin Li (Editor-in-Chief) and an anonymous referee are gratefully acknowledged. The usual disclaimer applies.",

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AB - 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.

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

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