Shipping banks' lending at lowest level in at least a decade

It has become more difficult to borrow money for a ship. The major shipping banks' lending has gone down significantly in recent years and now stands at the lowest level since analyst firm Petrofin began covering the portfolio.

Tyske Nord LB er en af de banker, som har skåret kraftigt ned på sit udlån til shipping. | Photo: PR / Nord LB

The major banks' lending to shipping continues to drop and now stands at the lowest level in at least a decade, writes Greek analyst firm Petrofin Global Bank Research, which covers loans for shipping.

According to a new report from Petrofin, the 40 biggest shipping banks had combined loans to the sector for USD 300.7 billion at the end of 2018, a decrease of almost USD 45 billion compared to 2017.

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