ShippingWatch

HSH Nordbank worried about Chinese-financed newbuild boom

Chinese leasing companies contribute to financing vessels which are not really needed, says HSH Nordbank's Global Head of Shipping, Christian Nieswandt, to ShippingWatch. Danske Bank and Danish Ship Finance have also noted a "different competition scenario."

Photo: HSH Nordbank

Carriers are increasingly looking towards Chinese lenders when looking for financing for new ships.

While the traditional shipping banks in Europe, especially the German ones, are scaling back their loans to shipping are struggling with non-performing loans for years, Chinese leasing companies are increasingly entering the field and providing finance.

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