After climbing more than five years, the global shipping (maritime) industry experienced a sharp decline at the end of 2008 the world financial system froze and the global economy slipped into recession. Ship charter rates (income) fell by as much as 90% is used by the court to drop prices by as much as 80%. As the ship prices (values?) Fell, shipowners began defaulting on loans and new purchase contracts while banks with loans secured by courts faced with the possibility of increasing the default (breach of loan to value commitment), foreclosure, and debt. In the midst of this crisis, VHSS, Association of German shipbroker, presented proposals on value vessels using discounted cash flow analysis (to determine the long-term value of the assets, LTAV), and not the market price of comparable transactions. Thomas Roeder, chairman VHSS, argued that this approach is necessary because market prices do not reflect the fundamental value in the modern world. After the announcement of an alternative assessment methodology in September 2009, he has to convince industry participants - owners, appraisers, and bankers -. Adopt a new methodology for evaluating and banking regulators and audit firms to adopt its use of "Hide
by Benjamin C. Esty, Albert Shin Source: Harvard Business School 18 pages. Publication Date: June 23, 2010. Prod. #: 210058-PDF-ENG
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