Major banks sell off multi-purpose vessels

Banks including ING and ABN Amro are demanding compulsory sales of more than 20 Dutch-controlled multi-purpose vessels after cancelling loans to the vessels. ABN Amro has now cancelled the credit to Abis Shipping's fleet of more than 12 ships.

Major Dutch bank ING recently canceled its line of credit to a number of multi-purpose vessels in Dutch Flinter Group after a court ruling in Rotterdam has placed a large part of the group under receivership, Flinter writes on its website.

Now, ABN Amro – another major Dutch bank – also looks set to cancel credit to 12 multi-purpose and heavy lift vessels controlled by Abis Shipping and put the ships up for auction, wrote specialized industry media Heavy Lift & Project Forwarding Magazine recently.

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