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Greece and China strengthen collaboration in shipping finance




The partnership between Greece and China in shipping finance is poised to see a significant advancement following a conference held at the prominent Greek port of Piraeus on Wednesday, September 6.

The event was organized jointly by the Association of Banking and Financial Executives of Hellenic Shipping (ABFEHS) and the Chinese Embassy in Greece where discussions were held between the Export-Import Bank of China (Exim Bank) and Greek shipowners. These deliberations were conducted within the broader framework of China’s Belt and Road Initiative (BRI), aimed at global infrastructure development.

ABFEHS President, George Xiradakis, in his welcoming remarks, stated, “Greece serves as a secure investment platform for maritime trade” and emphasized that it is open to both financial institutions and private investors.

He highlighted the attractive prospects that Greek shipping presents to ship financiers, citing the continual growth of the Greek-owned fleet.

Mr Xiradakis also pointed out that Chinese leasing finance in the shipping industry has seen a substantial increase, rising from $47 billion in 2017 to $77 billion in 2021. Moreover, Chinese banks, including Exim Bank, have forged robust connections with the Greek shipping sector.

Source: Ekathimerini

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