Ship financing barometer shows first increase in 11 years

Ship financing barometer shows first increase in 11 years

The Petrofin Index for Global Ship Finance, a key barometer for the sector, saw its first rise in 11 years, in an annual report released this week from Athens.

The index, which started at 100 in 2008, rose one point to 63 ahead of last year’s results.

In addition, lending by the top 40 banks to shipping was higher in 2021 at $290.12 billion, from $286.9 billion in 2020, thanks to the growth of Greek, Asian and Australian banks.

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According to Petrofin Research, worldwide ship financing, including all forms of loans, leasing and alternative providers, amounted to approximately $500 billion. The total global bank lending of all banks, including local banks, is approximately $340 billion, approximately two-thirds of the total total ship financing.

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