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The Responsible Ship Recycling Standards initiative, backed by several large banks, updates standards and expands to include offshore structures such as drilling rigs. More banks have also joined, reports FinansWatch Norway.
28 banks in Singapore introduce a new code of best practices aimed at ensuring that banks can assess risks and other factors when they finance the city state's massive commodities market. This comes after several large oil trade scandals.
The crisis within the offshore industry could drag out for years, assess several banks. Danske Bank's head of shipping sees no improvement before 2023 or 2024. The bank's appetite for offshore has diminished in recent years.
The German bank has turned down offers from two investors for a minority stake to instead recapitalize the bank with funding from federal states and regional banks. The bank is also selling a portfolio of non-performing shipping loans.
Shipping bank Maritime & Merchant has experienced strong growth in 2018, when the bank's portfolio at the end of the third quarter had climbed to a little over USD 200 million. More growth and an IPO are key objectives in the coming year, CEO Halvor Sveen tells ShippingWatch.
Large portions of German bank NordLB's loans to the shipping sector are non-performing, shows an internal audit report that has been leaked. The bank will now look into how the information was leaked.
Several US banks, which are not usually strongly exposed to shipping, are in a race against time to find new tenants for several vessels after a restructuring of offshore carrier Tidewater.
Major German bank Commerzbank expects that the shipping markets this year will be more or less on par with last year. The bank is working to reduce its shipping loan portfolio, and this process will continue in the years to come.
Money from China is pouring into the shipping industry at such a rate that it more than makes up for the reduction in lending from European banks, says BNP Paribas to ShippingWatch.
Large loans to the shipping and offshore industry dealt a major blow to the result at DVB Bank in the first half of this year. Excess capacity is a big part of the problem, writes the bank.
The scope of non-performing loans to shipping has increased big-time at the top shipping banks in Germany, and these banks face fresh losses, Moody's projects in a new report.
Consolidation in the Dutch multipurpose sector is driven by banks demanding mergers before they can leave vessels to operating companies, writes Alphaliner.
Resultatet i Danmarks Skibskredit, der muligvis skal sælges, faldt markant i første halvår 2015. Det er der en forklaring på.
Chinese banks, such as the state-owned China EXIM Bank, will be even more active in coming years and support the government's goal of making shipping yards more sophisticated, states the bank.
Greek banks are trying to massively offload the banks' billion dollar debt to the shipping industry, according to Reuters. This is caused by factors including a fear that Greece could be thrown out of the Euro Zone.
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