Photo: BNP Paribas
Extraordinary circumstances, market volatility and uncertainty see shipping bank-sourced finance for Greek owners decline 6.24% to $49.8bn in 2020 as banks review their lending policies.
The decline has been evident in recent years and is down from the $57.21bn registered in 2016.A key finding in the 20th annual Petrofin Bank Research’s survey of lending to Greeks was that this decline occurred despite a record of near a 20% rise of ship finance by Greek and Cypriot banks in the year.
In his analysis, Ted Petropoulos, Head of Petrofin Research, said, “This year’s research of Greek shipping portfolios paints a picture of mixed partial growth and more extended decline”.
Ship Finance for Greek Shipping Declined by 6.24% in 2020, as Loan Value Fell Under $50 Billion hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.