NIBC Shipping portfolio grows 30% in two years

The company’s portfolio stood at €1.1bn at the end of 2022, compared to €914m at the start of the year and €856m in 2020. NIBC said the credit profile of its portfolio had also improved over the same period, with impaired exposures down to 1.7% of the portfolio.

NIBC Shipping’s assets comprise 35% gas/chemical tankers, 33% dry bulk vessels, 21% intermodal and other, and 12% crude/product tankers. By geography, its portfolio is led by the Netherlands at 26%, followed by Germany at 23%, and Norway at 19%.

Michael de Visser, Managing Director Shipping at NIBC: “Shipping is characterised by its cyclicality and in today’s strong market with elevated ship values and a competitive financing environment it is important to remain disciplined in our through-the-cycle financing strategy to make sure that NIBC can also service maritime investors in less strong markets, like we have done for the past five decades.

The company said it is in a strong capital position, with its Common Equity Tier 1 (CET 1) ratio of its capital  to risk-weighted assets standing at 17.8%               

“This places us in an ideal position to provide through-the-cycle type of financing to underserved maritime investors and shipowners within the shipping industry,” said NIBC.

Related:NIBC shipping portfolio surpasses EUR1bn