News / Shipping lines tighten up credit terms for 'financially risky' NVOCCs

16/06/2020

Ocean carriers are tightening up their credit terms with thousands of smaller NVOCCs [non-vessel-owning common carriers] due to mounting fears that many could go bust due to Covid-19.

Since the banning of shipping conferences, when credit indiscipline was considered an internal fineable breach of the terms ...

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PHILLIOU PHIL
June 18, 2020 at 1:33 pm
The extension of credit by the ocean shipping lines and cargo airlines is often misunderstood and fraught with issues and costs. Ocean shipping lines and cargo airlines have enormous amounts of capital and expense tied up in artificial loans to customers. https://theloadstar.com/rising-demand-for-short-term-credit-as-covid-drives-down-cash-flow/

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