The next stage of “Moral Hazard?”
[C]arriers have a history of shaking off the threat of bankruptcy. In 2009 when the situation was even more precarious than it is now, carriers found ways to survive, calling upon shareholders, governments, and new investors for financial support. Terms with banks, shipyards, and charter owners were renegotiated to limit the immediate cash drain and many needed to sell off assets such as ships, terminals, and some non-core units to repair their balance sheets.
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