ShippingWatch

Poseidon Principles believes in accession from important Chinese lenders

Not a single Chinese lender has joined the Poseidon Principles so far, although the European banks behind the principles announced almost ten months ago that this was likely to happen shortly. Hope remains intact, however, says a spokesperson.

Photo: Global Maritime Forum

Michael Parker was full of optimism when he, in January 2020, said that Chinese lenders were likely to soon join the Poseidon Principles.

Ten months on, however, Parker, who is head of shipping and logistics at Citi Bank and a key initiator of the Poseidon Principles, must acknowledge that not a single Chinese bank has joined the green set of regulations for shipping banks so far.

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