Standard Chartered has defied the gloom surrounding the ship finance market with deals worth in excess of $1.6bn.

The bank says it has recently concluded a $684.5m, up to 12-year non-recourse shipping finance facility for BW Group and Marubeni joint venture BW Gas JuJu LNG.

Acting as facility coordinator, it said it led a syndicate of nine banks in the transaction, which will refinance existing credit facilities for eight LNG carriers on long-term charters to Nigeria LNG.

It