Plz explain Bassanio's speech in Act 5 Scene 2

His speech is in Act 5 - Scene 1 - However, his trying to explain why he does not have the ring seems sincere and heartfelt. At some level the audience might feel that he is not the greatest guy ever since he appears to have been so easily duped. However, when the disguises have been revealed and when the "couples" are all paired up and Antonio finds that his ship has not been lost, the truth is that the audience probably thinks favorably of him since his love seems to be sincere.