Asian shipyards may have used "fake" newbuilding orders to secure bank loans before the shipping market crash, according to IFW's sister publication Lloyd's List. 

         At the Connecticut Maritime Association's Shipping 2010 conference, interdealer broker ICAP Shipping's head of dry freight and basic resources research, Georgi Slavov, highlighted the practice of forging memorandums of understanding to explain why there was so little accurate information about the true state of the newbuilding orderbook.