Shipping bank loans at lowest level in a decade

Total loans from the major shipping banks declined by USD 42.5 billion in 2016 and the banks' shipping loans are now at their lowest level since 2007, shows a report from Greek analyst firm Petrofin Research.

by LOUISE VOGDRUP-SCHMIDT

Shipping is not a popular industry to lend money to. In 2016, loans to the global industry fell to the lowest level in a decade, reveals a new report from analyst firm Petrofin Research. Each year, the firm analyzes the 40 largest shipping banks' maritime loans.

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