Norway’s Maritime & Merchant Bank (M&M Bank) says shipowners’ adaptability in the face of changing emissions rules “never ceases to impress”.

The Henning Oldendorff-backed niche lender believes it is “privileged” to work closely with shipping companies on decarbonisation.

In its third-quarter results statement, the over-the-counter Oslo bank said “time is running fast” towards the introduction of the Carbon Intensity Indicator that measures how much CO2 each ship emits.