Transport Capital’s Joshua Politis says his financial advisory business has been booming due to a dearth in traditional ship finance in Asia.

Many of the big-name international shipping banks that previously had large Asian shipping portfolios have pulled out, and Politis does not expect them to return anytime soon.

“They will not do new transactions here. They will do them in Europe for their key customers, but I don’t see them coming back to Asia,” the Singapore-based deputy managing partner said.