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COMMENTARY

Singapore banks may miss the O&M boat when sector recovers

In the meantime, other players are picking up assets on the cheap while the banks ponder their next moves
Tuesday, May 23, 2017 - 05:50

Piyush Gupta.jpg
DBS group chief executive, Piyush Gupta at a Singapore Maritime Week panel session openly joked that the bank has emerged as "a reluctant owner" of shipping assets.

IT IS no secret that the big three local banks have resorted to foreclosing vessels to salvage outstanding loans extended to offshore and marine (O&M) companies under distress.

DBS group chief executive, Piyush Gupta at a Singapore Maritime Week panel session openly joked that the

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