View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
January 4, 2010

Shipping Loan Portfolios Slides

Newbuild cancellations have led to a significant reduction of the global shipping loan portfolio, estimated to have fallen from $450bn in 2008 to nearly 410-$420bn. During the first nine months of 2009 new financing fell to $25.6bn, from $72.2bn, during the same period a year ago, he

By cms admin

Newbuild cancellations have led to a significant reduction of the global shipping loan portfolio, estimated to have fallen from $450bn in 2008 to nearly 410-$420bn.

During the first nine months of 2009 new financing fell to $25.6bn, from $72.2bn, during the same period a year ago, hellenicshippingnews.com reports.

Global financial service firm Petrofin said mergers and acquisitions have reduced the number of lending banks from 40 down to 35.

According to estimates, by the end of 2008 the world’s 32 biggest shipping banks controlled 90.5% of total loans, or $407.4bn.

Seven out of the 32 largest banks, representing 42% of market share or $171.1bn, are expected to significantly reduce their portfolios in 2010.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology