Over the past few years, private equity funds, new
players to this industry, have been showing growing
interest and gaining momentum in filling the gap of
traditional bank finance. Between 2011 and 2012,
private equity funds financed no less than 22 shipping
transactions with an aggregate magnitude of more than
$6.4 billion (Maritime Briefing, 2013). This new source
of capital is much welcomed by the sector, which has
been facing tighter credit markets, low charter rates and
heavy losses since the economic and financial crisis.