London is a leading centre for the provision of capital for shipping companies for the construction of vessels and the purchase of second-hand tonnage. Banks based in London are some of the most significant providers of funding and banking services to the shipping industry.
Most shipping finance from the UK has traditionally been extended in the form of mortgage finance, but leasing, corporate financing and public bond issues are growing in importance.
Many banks also offer ancillary services which include freight collection, foreign exchange dealings, remittances, sale and purchase completions as well as consultancy and advisory services. An increasing number of banks is now active in the freight derivatives market.
In addition to banking services, the UK is home to many of the other financial related services including accountancy, consulting, insurance and legal.
The London Stock Exchange offers shipping companies an alternative source of funding for fleet expansion. Listing in London is easy in terms of both time and cost.
London has always been at the forefront of financial innovation and remains well-placed and committed to doing so in the future.
