ECONOMY

Lending to Greek shipowners falls to 6-year low

Lending to Greek shipowners, who control more vessels than companies in any other nation, fell to a six-year low as charter rates extended losses and banks exited the industry, according to Petrofin Bank Research.

Lending fell 2.8 percent to $65.8 billion last year, the lowest since 2006, the research company said on Wednesday.

The decline was the biggest since an 8.5 percent contraction in 2009, its figures show.

[Bloomberg]