The amounts were lower than those seen in the last quarter of 2008, or the onset of the global credit crunch, when loans fell to $6-7bn.
Norway-based DNB emerged as the top bookrunner of syndicated marine loans for the first three months with deals worth $821m. DNB was ranked second in the list of mandated lead arrangers with $945m, behind HSBC sitting on a single $1.1bn deal.
Citi took the second and third places for bookrunner and mandated lead arranger respectively. ABN Amro was tied in second spot with Citi in bookrunner and ranked fourth in mandated lead arranger, according to UK-based Dealogic.
Last year, syndicated shipping loans stood at $68.4bn compared to $54.25bn in 2010.
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