Maritime CEO Forum: Banks will distance themselves from shipping even further

Banks offering ship finance might be at their lowest levels this century, but shipowners have been warned they will likely decline further.
Speaking during the ship finance session at Tuesday’s Maritime CEO Forum at the Monaco Yacht Club, Dagfinn Lunde, a Splash columnist and founder of, noted how globally the volumes of ship finance from banks have shrunk by 35% since the onset of the global financial crisis in 2008, and yet the world’s merchant fleet has grown by 60% in this timeframe.


The finance discussion then turned to green matters with a focus on the Poseidon Principles, the recently introduced commitment by 11 banks to promote lending to more environmentally aware shipping projects.

Socrates Leptos-Bourgi, global shipping and ports leader and PwC and the moderator for the hour-long session, told delegates: “The Poseidon Principles bring some transparency. It brings pressure to reduce carbon footprint.” Leptos-Bourgi went on to urge for the creation of a common language or undersrtanding between banks and owners to define what green actually is.

The Maritime CEO Forum in Monaco was sponsored by Arrow Shipbroking, Cambridge Academy of Transport, C Transport Maritime, Dualog, Liberian Registry, Lloyd’s Register, Marlink, PwC, and SeaQuest.

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