China's ship financing skyrockets

Leasing banks in China have increased their shipping loans by 33 percent this year, reports the Wall Street Journal. The growth is expected to continue.

This year, China has pumped USD 20 billion into ship financing – 33 percent more than Chinese banks loaned out the year before, reports the Wall Street Journal based on figures from the leasing arm of the Industrial & Commercial Bank of China (ICBC).

It's more or less impossible to raise significant amounts of finance from European banks, so others like the Chinese have stepped in a big way

Søren Skou, CEO, Maersk

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Eurotunnel accuses DFDS of unfair competition on English Channel

Getlink, which owns the railroad service Eurotunnel under the English Channel, accuses ferry operators DFDS and P&O ferries of having struck an unfair deal on the Dover-Calais route in terms of competition. DFDS CEO Torben Carlsen rejects the accusation to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs