NIBC’s Shipping business shows robust 2023 performance amid dynamic international economic environment

The size of the NIBC Shipping portfolio decreased slightly to EUR 955 million (compared to EUR 1,115 million in 2022). This is mainly due to a currency effect; the USD has strengthened against the USD in which Shipping financings take place. In addition, we also see a high level of prepayments of our clients. This results in a highly robust book in which the impaired exposure is brought to zero.

Over the past year, NIBC Shipping has enabled the ambitions of valued clients such as Blystad Group, GBSMT Limited, Alba Tankers, ForestWave, Harren & Partner, Leomar, Olof Brodin and Neu Seeschiffahrt.

In 2023, NIBC has continued to execute its focused strategy as an entrepreneurial asset-based financier. Backed by the launch of the new brand positioning at the beginning of the year, NIBC has further strengthened its proposition, resulting strong results in all core segments.

Michael de Visser, Head of NIBC Shipping:

“NIBC Shipping has always been committed to providing financing not only in times the shipping market is strong with high values for ships, but primarily in times when things are not going as well. This reflects our through-the-cycle strategy. Therefore, we now focus on well-balanced transactions to ensure that the portfolio remains robust in case of adverse circumstances. This kept origination of NIBC's Shipping business consistent and predictable.

We see positive developments on ESG and we remain committed to greater sustainability and emission reduction. With the successful launch of our ESG Client Portal, NIBC Shipping remains committed to helping clients with their sustainability transition as we realized with Chemship's Ventifoils.”

We refer to our Annual Report 2023 NIBC Holding N.V. published on our website for full details.