Germany's DVB Bank shaved more than $1bn from its shipping portfolio in the past year.

It's ship loan portfolio drop to $5.1bn at the end of June, down from $6.3bn a year earlier.

The bank is the latest German financier to unveil a shrinking maritime portfolio and confirm a strategic shift away from shipping.

"DVB will continue to manage existing business as a fully operational bank," it said.

"But discontinue active marketing and in principle the origination of new business in shipping finance."