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Piraeus Bank to forge Asian ship finance partnership

Piraeus Bank, Greece’s largest lender by assets, is close to forming a strategic partnership with an unspecified major Asian Pacific financial conglomerate to boost its ship finance offering.

“This pioneering initiative forms part of Piraeus Bank’s continued commitment to the shipping community, through investment of international capital into existing opportunities and new financing to the shipping industry,” the bank said in a statement on Friday without elaborating on who the financial conglomerate is and what type of partnership the bank was looking to forge.

Piraeus Bank said its initiative aims to position the bank at the “forefront of servicing Greek shipping clients”. Many within Greek ship finance expect the bank to be in talks with a Chinese leasing company.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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