Oil crisis puts pressure on DNB's Q3 results

The hard-pressed oil segment dealt a serious blow to Norway's DNB in the third quarter 2016, as the bank's massive exposure to shipping and offshore triggered major loan impairment losses. However, the CEO is optimistic about the prospects for 2017 and beyond.

by GRETCHEN PEDERSEN

Prominent Norwegian shipping bank DNB is struggling with massive exposure to the bleak oil and shipping markets where the low oil price has put significant pressure on earnings and investments.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

DNB: Offshore rehabilitation could stretch into 2020
For subscribers
Oil impairments at Norway's banks set to rise
For subscribers
DNB Markets: Maersk Line and APM Terminals headed for listing
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Container

Cascading of huge vessels poses a risk to intra-Asia business

Ocean Network Express sees growth rates of up to ten percent on some intra-Asian trades, Region Head South Asia Colin de Souza, tells ShippingWatch in an interview. One thing may alter the picture.

For subscribers

Carriers

Singapore shipowners on green transition: Business comes first

For subscribers

To identify where the biggest savings can be made, Wärtsilä can create so-called digital twins of an existing vessel. | Foto: Sune Høegh, Mediaspektrum

Suppliers

Wärtsilä sees more carriers improving efficiency instead of switching fuel

For subscribers

The US Coast Guard is now mandated to investigate possible violations on foreign-flagged vessels in US waters. | Foto: Ben Margot/AP/Ritzau Scanpix

Container

US Coast Guard strengthens measures against violations on commercial ships

For subscribers

Tanker

Maersk Tankers moves into new segment with latest pool

For subscribers

MSC did not violate US law when it charged customers a congestion fee during the pandemic, according to a new ruling from the US Federal Maritime Commission (FMC). | Foto: Sina Schuldt/AP/Ritzau Scanpix

Container

MSC wins first case on congestion charge to customer

For subscribers

Orders for LNG and methanol ships increased over summer
The yards’ construction of ships that can run on alternative fuels has grown this summer, according to DNV. Furthermore, another fuel type may soon make its debut.
For subscribers
Typhoon closes 12 shipping routes off southern Taiwan
Local authorities expect the typhoon to hit Taiwan on Thursday, but large parts of traffic have already been shut down.
For subscribers
Small feeder ships headed for extinction in European market
The order book for new feeder vessels, especially the smaller ones, to the European market is almost non-existent, writes Alphaliner.
For subscribers
Maersk's new methanol venture moves forward with project by Suez Canal
C2X and the Egyptian government sign a framework agreement on the next steps for large-scale production of the green fuel in the country.
For subscribers
Three new cars stacked in one shipping container to reduce long waiting times
The major port company DP World and a Chinese car manufacturer have found a new way to put more cars in each container. This will reduce supply chain issues.
For subscribers
Liquidation company puts an end to crisis in North German shipping bank
EUR 4.7bn in non-performing loans from the former HSH Nordbank have now been sold by a public liquidation company that has cleaned up after the North German shipping crisis.
For subscribers

MSC wins first case on congestion charge to customer

The ruling shows that the Swiss shipping company is not obliged to justify so-called congestion charges that it imposed on companies during the pandemic.

For subscribers

Carriers

Singapore shipowners on green transition: Business comes first

Singapore Shipping Association (SSA) supports the IMO’s revised green transition requirements, but business will come first, says SSA President Caroline Yang in an interview with ShippingWatch.

For subscribers

”The automotive industry has experienced significant changes and supply chain challenges in the last few years globally, and in Türkiye that ranged from microchip to RoRo capacity shortages. I’m proud that our team could implement an alternative solution,” says Rashid Abdulla, CEO of DP World Europe. | Foto: Casper Dalhoff/Ritzau Scanpix

Carriers

Three new cars stacked in one shipping container to reduce long waiting times

The major port company DP World and a Chinese car manufacturer have found a new way to put more cars in each container. This will reduce supply chain issues.

For subscribers

Tanker