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05 August 2020 The on-line newspaper devoted to the world of transports 09:04 GMT+2

December 5, 2018

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Assarmatori institutes a permanent table of confronts between marine industry and finance

The association evidences the necessity of a deep second thought of the relationship between the shipowners and the financial system

Assarmatori has announced the institution of a permanent table of confronts between marine industry and domestic and international finance. The objective - it has explained the Italian shipowning association - is to open an open dialogue and to explore new collaboration forms, transforming that which in all respects are an emergency in opportunity. The definitive composition of the job table will be announced in the next weeks.

Communicating the initiative, the association has evidenced that during the last few years the typically Italian model of family the business applied to the shipowning enterprise is put to hard test from the total macro-trends and that the words of order in order to resist to the volatility and to remain competitive are: huge capitals, dimension and management. Between the several revolutions which post-crisis is called the shipowning industry, species in Italy - it has found Assarmatori - is a deep second thought of own relationship with the financial system: the marine field, in fact, is less and less compatible with structures of capital rigid and canted on the bank credit but it demands financial capitals are patient and partner "educated" to sector, able dynamics to accompany the enterprise in all the phases of the cycle, and not only when the market is expanding.

Assarmatori has moreover emphasized that the crisis of the tricolour marine cluster, with beyond 100 riconducibili ships to Italian interests dismesse during the last few years, has been added for the first time in the history to the crisis of the credit system and the majority of the Italian shipowners has been found to face or more restructures financial institutions during the last few years and in many cases, above all in the last biennium, have happened bank disintermediazioni. The cessions of the credits, in some situation facilitated by the entrepreneur in order to unblock stall situations and to throw the bases for throw again of the company, have in other interested circumstances marked the income of deep hedge to a ready one only realize of the below assets.

"The moment has arrived - the president of Assarmatori has asserted, Stefano Messina - to invert the route and to completely explore the synergies that can derive from a collaboration, or in order better to say from a real integration, between shipping and finance, exiting from a logic of sterile contrast. Thanks to a pre-emptive analysis cost-benefits it is possible to imagine a distance of development, increase and diversification that affords to the Italian shipowners to recover competitiveness eventually also through the creation of a Bottom of Ethical Debit that supports the entrepreneur in the business continuity, and to their partner financial to draw an just profit".

Assarmatori has remembered that to international level the trend of disintermediazione of the shipping by the bank system is visible from years. "According to Petrofin Research - it has specified the association - in the 2017 stock of it employs naval of main the forty world-wide banks is come down of beyond 3% (from 355 to 345 billion dollars). In parallel, always second the same source, is increased in exponential way the role of trusts and the leasing company, exposed for beyond 47 billion dollars, but with a given tendential trend beyond 50 billion dollars. In Italy the escape of the banks, except some sporadic case, is a recent phenomenon and today it interests not only the more serious cases, but also the restructured and so-called credits unlikely-to-pay ("UTP").
In the last year deleverage to miscellaneous the title of the Italian banks regarding shipowning enterprises it has only exceeded the threshold of a billion of dollars. And an analogous figure is by now in sure route towards the dismissione within on December 31, 2018. Impressive figures, if account of the total dimensions of the bank exposure of the Italian shipowning field holds, than according to the considered perimeter oscillate between 7 and 10 billion dollars. Figures - Assarmatori - that they certify the urgent necessity to only characterize new paradigms, obtainable from an honest and punctual analysis of the trends in existence and carrying concrete examples, even malnoti in Italy has stated, and however potentially applicable".

The association has made l '' example of the cases "of "diversification of return", that is the employment of coming private capitals from the profits of the shipowning section (in particular Greek), met in interested subjects to always plow back in the same field, but diversifying in terms of geographies and sub-fields. Or, remaining to the grip the Italian present time - it has found Assarmatori - the possibility to manage the credits deteriotated and UTP of the Italian banks not on opportunistic base, but for through of systemic initiatives and aggregativi poles that are able to realize a concrete alignment of interests between all stakeholders (the local banks, investor, shipowners, communities etc.), preserving the importance of the Italian mercantile fleet in the world. But also, in perspective key, holding an alert eye on the opportunities offered from the capital market, once that the crisis will be finally behind and the patrimonial physiology and financial institution of the field finally recovered".

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