Ship financing steady - so far
The Petrofin index for global ship financing has registered its first rise in eleven years according to its report which was published in mid-September. This index was established in 2008 with a reference value of 100 points.
After falling to its historical low in 2020 with 62, it managed to recover one point, rising to 63, last year 2021. This year, the maritime transport loans of the 40 main banks increased to USD 290,120 million, compared to USD 286,900 registered in 2020, thanks to the growth of Greek, Asian and Australian banks.
Financing for this sector worldwide, including all forms of lending, leasing and alternative providers, reached approximately USD 500 billion; while total loans from all banks, including local ones, amounted to about USD 340 billion.
In the ranking of banks, the French BNP Paribas provided the highest amount of loans, followed by China Ex Im and the German bank KfW. Yet, risks persist, since the report warns that “the Russian invasion of Ukraine, high energy prices, sanctions, rising interest rates, slowing global growth, and concerns about a coming recession have altered the trend of loans in 2022." (cd)