By L. Karageorgos
Bank lending towards the Greek shipping sector shrank by 5.6 percent in 2017, after an 8.77 percent drop in 2016 compared to 2015, according to annual report by Petrofin Research.
The drop in lending funneled towards Greek-controlled shipping, however, comes as the Greek commercial fleet increased by 7 percent (yoy) in 2017, or 25.276 million dwt, from 361.934 million dwt to 387.210 dwt.
Total borrowing corresponding to the Greek shipping sector (including approved but not disbursed loans) up until Dec. 12, 2017 eased to 53.994 billion USD, down from 57.211 billion USD in 2016.
Additionally, the Petrofin Index for Greek Ship finance, which commenced at 100 points in 2001, dropped from 346 to 327 points.
