The shipping industry’s vessel loans are typically taken on the basis of a premium over LIBOR. LIBOR has been experiencing upward pressure since early 2017, as major central banks have moved to a tightening stance. The three-month LIBOR has risen to 2.3% as of April 2018, the highest rate seen since November 2008, the early days of the financial crisis.
As LIBOR increases, stresses on shipping industry balance sheets, cash flows and earnings also rise. With rates still at relatively low levels...
http://blogs.platts.com/2018/05/03/libor-shipping-elephant-in-the-room/