 The amount of capital available to shipowners next year will determine vessel capacity growth in the medium term, and thus, future freight rates. If shipping companies cannot refinance maturing debt, ocean services can plunge into chaos, a la the 2016 Hanjin Shipping insolvency. If 2019 is any indication, there will be even less capital available to ocean shipping in 2020, it will be more costly to access and capital providers will be more discerning on who gets it. 