The global ship finance sector has had a rough few years and Singapore has not been spared, but some segments have fared better than others.
And major banks that have been active in providing finance for traditional shipping are keeping their flags planted firmly in the Lion City.
“The recent weakness in the offshore oil market has affected banks who are deeply involved in financing the relevant offshore companies,” says Woon Aw Yong, senior vice president for HSH Nordbank in Singapore.
