The decline of the traditional ship-lending presence in New York continues with one European bank shutting up shop altogether and another trimming staff in recent weeks.

DVB Bank quietly closed the commercial activities at its Big Apple office at year’s end after efforts by its parent, DZ Bank, to sell the ship-lending business failed.

Earlier this month, Nordea Bank made two senior staff redundant from Martin Lunder's New York office amid a general belt-tightening initiative.