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As Shipping Slows, Banks and Carriers Fear Loan Defaults
(The New York Times)
November 13, 2009
By Landon Thomas Jr.
The New York Times
LONDON - When Eastwind Maritime, a medium-size carrier company, went bankrupt this summer, few banks in the United States took notice.
But in Europe, where banks hold over $350 billion of increasingly dubious shipping industry loans, the inability of Eastwind, which is based in New York,to handle its debt of more than $300 million set off an anxiety attack on lending desks across the Continent ...... Read more on The New York Times
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