Cargo Ship Losses Weigh on European Banks – NYTimes.com.
It isn’t enough to bring down the Euro, but losses on cargo ships are weighing heavily on some European banks. They are the primary financiers, or have been, of cargo ships. The chickens are coming home to roost. It might be a time to pick up a ship or two at a bargain if you’re a ship captain or smaller firm.
It’s the most difficult period in a couple of decades, according to the article.