SERVICES

Nordea Bank to boost shipping finance for booming LNG industry

London - Nordea Bank aims to increase shipping finance activities to the growing liquefied natural gas industry, executives at one of the world’s biggest shipping financiers said

London - Nordea Bank aims to increase shipping finance activities to the growing liquefied natural gas (LNG)industry, executives at one of the world’s biggest shipping financiers said.

China’s crackdown on pollution and its growing demand for more environmentally friendly sources of power, such as LNG, are boosting demand for ships to transport the fuel.

“We would like to expand the portfolio and there are certain segments that we would like to expand in. One of them is on the LNG side,” Geir Atle Lerkerod, Nordea’s head of shipping for the Nordic region, told Reuters.

“We see there is an underlying strong demand over time and we see that going forward as well,” he said on the sidelines of the Nordic bank’s investor event in London this week. LNG shipping officials at the event expected strong markets for the next two years. But they said that, with 40 to 50 LNG ships on order, a further build up of vessels through new ordering could undermine business prospects.

(Read more)

Pressed for time?

Get the best news of the week in your inbox

Subscribe ››