Shipping bank warns: Chinese ship financing poses risk to European shipping
State-backed Chinese banks finance most of Europe's large freighter newbuilds. The loans are cheap but ultimately politically controlled and could land European shipping in hot water in the long term, warns German shipping bank Berenberg. Chinese ship financing is necessary, says Schulte Group.
by JENS THOMSEN
Chinese ship financing plays an ever bigger role in European shipping, and this can create problems if Europe comes under political pressure from the US to pick a side, says German shipping Bank Berenberg.
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