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Freight + Fortune

James Lightbourn

Cavalier Shipping insights on the current shipping finance market and recent events in the shipping space.

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Substack
PricingOnly free issuesPublishesTwice weekly
Issues106Foundeda year agoLast Issue15 days ago
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Latest Issues

Is the Juice Still Worth The (Interest Rate) Squeeze?

The interest rate margins for shipowners borrowing money from banks, funds, and leasing houses have decreased by as much 1.5-2.0% in recent years. Great news for shipowners who are already enjoying a booming market stoked by geopolitical di...

15 days ago
7

USD Today; CNY Tomorrow?

The international shipping market runs on U.S. dollars — even if none of the companies involved in a voyage are American — reminding us daily of the fact that the dollar remains the world’s reserve currency. China is actively working to cha...

23 days ago
2

[Speaking Event] Financing Energy Shipping in a High-Risk World | Panel in Houston on May 5 at 4pm

At the one-day TradeWinds Shipowners Forum on May 5, participants will assess the energy shipping outlook and delve into the debates driving U.S. policy forward. The day begins at 10am and I’ll be on a panel at 4:15pm during the ship financ...

a month ago
3

Who’s cashing Uncle Sam’s Maritime Security Program checks?

In March 2026, the Center for Naval Analyses (CNA) published a study on U.S. national maritime strategy. America’s privately-owned international fleet has fallen from 850 ships in 1980 to fewer than 100 today.

  • Under the CNA study’s mos...
a month ago
5

[In-Person Event] CMA Annual Meeting Lunch | April 23 at Noon

This year’s CMA Annual Meeting Lunch on April 23 in Darien, Connecticut features Keynote Speaker Joshua M. Shapiro, President & CEO of Liberty Maritime Corporation, the New York-based commercial shipping company specializing in global logis...

a month ago
2

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  • James Lightbourn

    Shipping financier / founder of Cavalier Shipping / author of Freight + Fortune

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