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European banks axe shipping loans

While the Nordic banks seem to maintain their commitment to shipping loans, a series of European banks are getting serious about trimming their exposure to shipping.
Photo: Lefteris Pitarakis
Photo: Lefteris Pitarakis
BY KATRINE GRØNVALD RAUN

Unlike the Nordic shipping banks, several European banks have started trimming the high-risk shipping loans in their portfolios. Most recently, British bank Lloyds Group has allegedly sold loans from its shipping portfolio at around USD 500 million, says Bloomberg, referring to several sources with knowledge of the industry.

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