With a total asset value of some $105bn bank financing to Greek shipping continues to contract, but at a slower rate.
Maritime & Merchant Bank ASA (M&M), a ship finance boutique based in Oslo which opened for business in December 2016, is establishing a successful track record in providing conventional first priority loans for traditional shipping customers.
The leap in assets at Credit Suisse’s private bank to a record high has been aided by the bank’s new strategy of lending money to the world’s ultra-wealthy. Switzerland’s second-biggest bank is trying to lure more rich customers by helping them fund their businesses and lifestyles, with shipping, aviation and real estate loans a central focus.
The former head of BNP Paribas in China, Bing Chen, will take up the helm as ceo of containership owner Seaspan in January next year.
Oman Shipping Company has successfully raised $227m to finance its purchase of 10 new medium range tankers, which are chartered to Shell Tankers Singapore for seven years.