Tianjin: With traditional shipping and shipbuilding industry in the doldrums, many financial institutions are giving shipping a wide berth. However, Diao Gang, director of ship finance at International Far Eastern Leasing Co, suggested some niche opportunities at Marine Money’s conference in Tianjin earlier this week.
“With global warming, the Arctic ice areas are shrinking, the Arctic route is expected to open for navigation in the years ahead, and the development of Arctic routes will lead to a growth in demand for ice breakers,” Diao said.
Another reason for optimism was closer to home, according to Diao. China’s ongoing ‘Yangtze River Gasification’ project which is to develop LNG fuelled vessels along the river, will bring innovation. “It could be a new hot spot for investment and bring new opportunities for the depressed market,” Diao reckoned.
Diao also suggested financing institutions should strengthen their capabilities in risk forecasting and analysis and provide more patient support to shipowners. [30/11/12]