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日本海事新聞ニュース Japan Maritime Daily Nov 13, 2025 (Thu)

Interview: Kagawa Bank’s Outlook on Ship Finance Growth

(From right) Nishioka, Managing Executive Officer Ichiro Tanaka, Chief Researcher Kazutaka Yamamoto of the Ship Finance Office, and Mitsuki Kawahara

　--In June of this year, the bank established the Ship Finance Office within the Loan Department. I’ ・・・続きはログインして下さいnext %E3%80%80--In+June+of+this+year%2C+the+bank+established+the+Ship+Finance+Office+within+the+Loan+Department.+I%E2%80%99d+like+to+hear+about+your+aim.+%3Cbr%3E%E3%80%80%E2%80%9COur+involvement+in+ship+finance+dates+back+to+1965-1974.+It+all+started+when+our+Imabari+branch+%28in+Ehime+Prefecture%29+provided+a+customer+with+a+loan+to+build+a+domestic+vessel.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+also+started+financing+ocean-going+ships+between+1985+and+1989.+We+have+established+the+Ship+Finance+Office+to+utilize+our+network+of+bases+surrounding+the+Seto+Inland+Sea+to+contribute+to+the+further+development+of+the+local+core+industries+of+shipbuilding+and+shipping.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+Ship+Finance+Office+started+with+a+team+of+three+people.+The+number+of+branches+handling+ship+financing+has+increased+to+nine%2C+with+the+Imabari+branch+at+the+center.+The+team%E2%80%99s+role+is+to+review+projects+submitted+by+each+branch%2C+manage+them+during+the+period%2C+and+support+the+sales+branches.+When+setting+up+the+office%2C+we+sent+staff+to+a+major+financial+institution+that+handles+ship+financing+for+six+months%2C+where+they+learned+about+loan+decisions+and+management+methods+during+the+term.%E2%80%9C+%3Cbr%3E%E3%80%80--Do+you+have+any+goals+regarding+ship+financing%3F+%3Cbr%3E%E3%80%80%E2%80%9COur+total+loan+balance+for+all+industries+is+approximately+1.7+trillion+yen.+The+immediate+goal+is+to+increase+the+ship+finance+lending+ratio+to+10%25+of+the+total.+To+properly+manage+the+risk+of+10%25+of+assets%2C+it+is+essential+to+have+people+and+organizations+with+the+necessary+expertise.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThere+are+changes+in+the+sales+staff.+Some+employees+are+transferred+to+get+involved+in+ship+financing+for+the+first+time.+In+such+cases%2C+members+of+the+Ship+Finance+Office+work+in+cooperation+with+branch+staff+to+respond+to+customers%2C+thereby+maintaining+and+improving+service+quality.+We+would+like+to+increase+the+number+of+people+involved+in+ship+finance+within+the+bank.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Loan+balance+of+140+billion+yen+%3Cbr%3E%E3%80%80--I%E2%80%99d+like+to+know+the+remaining+balance+of+ship+finance+loans.+%3Cbr%3E%E3%80%80%E2%80%9CAs+of+the+end+of+September%2C+the+outstanding+loan+balance+for+ocean-going+ships+was+approximately+140+billion+yen.+It+has+almost+doubled+in+the+last+three+years.+As+demand+for+funds+increases+due+to+larger+ships+and+rising+ship+prices%2C+loan+balances+are+increasing+to+meet+the+needs+of+shipowners.+In+addition%2C+we+have+loans+of+approximately+10+billion+yen+for+domestic+shipping.%E2%80%9C+%3Cbr%3E%E3%80%80--What+types+and+shapes+of+ships+are+eligible+for+financing%3F+%3Cbr%3E%E3%80%80%E2%80%9CThe+focus+is+on+bulkers%2C+which+have+high+liquidity%2C+but+tankers+and+container+ships+are+also+handled.+Bulkers+are+small+to+medium-sized+ships%2C+ranging+from+Panamax+to+Handysize.+Most+of+the+tankers+are+product+tankers+in+the+10%2C000-20%2C000+dwt+class.+The+number+of+overseas+shipping+companies+leasing+ships+is+increasing.+The+contract+types+are+split+equally+between+time+charters+%28TC%29+and+bare+boat+charters+%28BBC%29.+Most+of+the+transactions+are+conducted+bilaterally%2C+and+participation+in+syndicated+loans+arranged+by+major+financial+institutions+is+one+of+the+issues+to+be+considered+in+the+future.%E2%80%9C+%3Cbr%3E%E3%80%80--What+are+the+recent+trends+in+ship+financing+projects%3F+%3Cbr%3E%E3%80%80%E2%80%9CWith+no+factors+that+would+cause+ship+prices+to+fall%2C+I+think+the+current+situation+is+that+time+charter+rates+are+not+keeping+up+with+ship+prices+that+remain+high.+There+are+also+many+cases+where+companies+actually+want+to+do+TC+but+end+up+doing+BBC+out+of+necessity.+The+weak+yen+is+a+tailwind+for+shipowners%2C+but+investment+decisions+remain+difficult.%E2%80%9C+%3Cbr%3E%E3%80%80--Do+you+have+any+experience+in+providing+loans+for+ships+built+at+Chinese+shipyards%3F+%3Cbr%3E%E3%80%80%E2%80%9CAlthough+there+is+a+track+record%2C+in+principle%2C+we+take+a+passive+stance.+As+slipways+at+Japanese+shipyards+are+almost+fully+booked+until+around+2028%2C+some+clients+have+no+choice+but+to+order+new+ships+from+Chinese+shipyards.+Our+mission+is+to+support+key+local+industries%2C+so+we+will+continue+to+provide+loans+for+ships+built+by+Japanese+shipyards.%E2%80%9C+%3Cbr%3E%E3%80%80--How+is+business+with+ship+owners+in+Kagawa+Prefecture%3F+%3Cbr%3E%E3%80%80%E2%80%9CWe+do+a+lot+of+business+with+domestic+ship+owners+in+Kagawa+Prefecture%2C+but+not+many+with+ocean-going+ship+owners.+However%2C+there+are+also+cases+where+owners+of+domestic+ships+are+expanding+into+ocean-going+ships.+We+will+support+our+clients%E2%80%99+bold+challenges+through+financing.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Interim+management+and+credit+%3Cbr%3E%E3%80%80--What+are+the+challenges%3F+%3Cbr%3E%E3%80%80%E2%80%9CIt%E2%80%99s+about+interim+management+and+credit+assessment+of+overseas+shipping+companies.+When+we+look+at+the+entire+range+of+ships+that+we+finance%2C+we+also+see+concentrations+of+ship+types%2C+ship+models%2C+operators+%28operating+companies%29%2C+etc.+as+risks.+One+of+the+challenges+is+to+build+an+optimal+portfolio+to+accommodate+the+increase+in+loaned+ships.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CRecently%2C+Japanese+operators+have+rarely+been+the+borrowers+of+loans.+The+majority+of+these+are+for+overseas+operators%2C+and+among+these%2C+S%26LB+%28sale+and+leaseback%2C+rechartering+a+ship+after+it+has+been+sold%29+deals+are+particularly+common+for+unlisted+small+and+medium-sized+operators.+Such+companies+have+limited+disclosure+information%2C+making+credit+decisions+difficult.+We+would+like+to+gain+cooperation+from+trading+companies+and+brokers+to+develop+our+judgment+skills.%E2%80%9C+%3Cbr%3E%28Published+from+time+to+time%29+%3Cbr%3E+%3Cbr%3E%E3%80%80Hiroki+Nishioka+joined+The+%3Cb%3EKagawa+Bank%3C%2Fb%3E+in+1995.+After+working+at+the+Bentencho+Branch%2C+Okayama+Branch%2C+and+Imabari+Branch%2C+he+has+been+in+his+current+position+since+June+2025.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E