Boxship sector faces IMO 2020 liquidity calls
Even with the protection afforded by bunker adjustment factors, large boxship companies need liquidity to tide over the recovery of higher fuel costs. S&P Global Ratings also warns of a two-tier market favouring scrubber-installed carriers in the dry bulk, tanker and gas shipping segments
Larger boxship players, which are better-placed to pass on higher fuel costs through bunker adjustment factors, may still need the buffer of excess liquidity as fuel costs are expected to rise
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