World's top 40 ship lenders push portfolios back above $300bn

The world's 40 largest ship-finance banks increased their combined loan books by 6% to $300.6bn at the end of 2025, pushing the total back above $300bn from $283.6bn a year earlier, according to newly published research. A global ship-finance index tracking the sector rose to its highest level since 2018, supported by higher vessel values, increased newbuilding finance, strong shipowner liquidity and greater competition among lenders.

Europe retained just over half of the top-40 portfolio, equivalent to about $151bn, while banks in the Asia-Pacific region expanded lending by more than 8% and Japanese lenders lifted their market share to 26% from 22%. Scandinavian banks reversed an earlier decline with a 16% increase, and Greek banks posted the largest regional rise, expanding 37% to $23.6bn and lifting their share to 7.8%. No bank exited ship finance during the year, and a further 60 banks held an estimated $45bn of shipping exposure, taking the combined portfolio of the 100 monitored lenders to about $345bn.

Including smaller and local institutions, total bank lending to shipping was estimated at about $425bn, slightly above 60% of a wider ship-finance market valued at roughly $680bn once leasing, export finance and alternative lenders are included. The global fleet and orderbook were valued at about $2.17tn at the end of 2025 and had risen to $2.38tn by the middle of 2026, including an orderbook worth $641bn. Modest growth in bank lending is expected over the next two years, though leasing companies and non-bank lenders offering higher loan-to-value ratios may gain share.