Bank ship finance climbs back above $300bn
Petrofin says the top 40 banks grew lending 6% in 2025, led by Greece
Bank lending to shipping grew again in 2025, climbing back above $300bn, according to Petrofin Global Bank Research.
Petrofin's top 40 banks lifted their shipping loan portfolios to $300.6bn at the end of 2025, up 6% from $283.6bn a year earlier, with no bank exits and BNP Paribas remaining the largest ship finance bank. Its index of ship finance rose from 61 to 63, back to 2018 levels. Europe stayed the biggest region with 50.4% of top-40 lending, or $151bn, while Asia-Pacific banks grew 8.3% and US banks 6.7%. Greek banks stood out, expanding their loan books 37% to $23.6bn and lifting Greece's market share to 7.8%, while Scandinavian banks grew 16.2% to $26.2bn.
Petrofin estimates total global bank lending to shipping at around $425bn once smaller lenders are included, and about $680bn across all providers including leasing and export finance, modest against a fleet and orderbook valued at $2.17trn at the end of 2025. US penalty threats on Chinese-linked vessels briefly prompted some owners to convert leases into bank loans before Chinese leasing resumed. With margins tightening, Petrofin expects modest lending growth in 2026 and 2027 as banks stay cautious on loan-to-value ratios.
