Oslo-listed Maritime & Merchant Bank (M&M Bank) was kept busier in the third quarter as owners stepped up sale-and-purchase activity.
The Henning Oldendorff-backed niche shipping lender said the three months were characterised by "considerable dynamics" in the loan portfolio as companies hedged profit through a "fair amount" of vessel disposals as asset values rose for boxships and bulkers.
"As a reflection of the active sale-and-purchase market, we have been kept busy with a steady inflow of enquiries and we are pleased to assist existing and new clients, domestically and abroad in materialising new projects within the main segments," the bank said.
