Joy Peppers
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“What a senior banker performs in his head over lunch or dinner is now available online. Pythia provides information to shipowners not only on the current attractiveness of their project, but also on how to make each project more attractive to lenders, â€the company said in a statement.
With over 40 financiers on board, from traditional European banks to Asian leasing houses and American alternative debt funds, the platform is capable of serving all types of owners and projects.
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The lack of transparency in navigation makes it difficult to obtain information on loans, says Oceanis. In corporate debt markets, on the other hand, estimates of lending terms are available through the following yields on public companies of similar rating, while interest payable on personal finance products such as mortgages or loans. Car rentals are freely advertised to allow consumers to compare products. Importantly, these three sources of information can be detailed before contacting a bank for these products.
There are many reasons why shipping stands out: the complexity of multiple jurisdictions, varying build quality between job sites, the cost of special surveys, and recycling values, to name a few. These factors, along with many other important considerations, make the shipping industry one of the most complex financing areas in the world, making it one of the most difficult areas to accurately predict Loan conditions.
Given the many individual factors that can make a borrower particularly well or poorly suited to current loan conditions, and the varying degree to which financiers appreciate them, it has so far been difficult for homeowners to accurately predict conditions. funding before a due diligence process with any degree of precision.
With the launch of Pythia, Oceanis sought to distill the key variables that form the heart of any banking project assessment, with the aim of streamlining and speeding up the withdrawal process.
By completing a short two-minute online form, shipowners can get instant information on the feasibility of their project for financiers and receive advice on how to make these projects more attractive.
Maximilian Otto, Managing Partner, said Splash that the two most restrictive elements for small and midsize owners tend to be a lack of sufficient equity capital and a focus on single vessel projects resulting in small ticket transactions. This situation is changing this year with the recovery of fortunes in the container and dry bulk sectors.
“In today’s environment, it is no longer just about access, but knowing the right structure in order to receive the most favorable terms and react quickly to market opportunities,†said Otto, adding: “The current market dynamics shifts power to borrowers. In order to get the most out of the current cycle, it is essential to perform a thorough market analysis. ”
