ShippingWatch

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

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