The Greek shipowner’s ability to address the ebbs and flows which characterise the shipping industry has served them well in the past and they need to re-commit in order to continue the growth of Greek shipping, says analyst Petrofin Research.

Although bank ship finance into Greek shipping continued to contract in 2017, the decline is slowing and by the end of this year more banks will become more willing to lend into the Greek market. This is the conclusion of the annual look at Greek ship finance by Petrofin Bank Research.

Greek shipowners are still able to get their hands on funds to buy ships as evidenced by the annual Petrofin Bank Research survey of bank funding portfolios in the name of Greek owners.