ShippingWatch

Rating bureau: Progress for German banks in 2018

Last year generated momentum for the hard-pressed German shipping banks, which reduced their assets in the shipping industry. There is strong indication that the momentum will continue in 2018, notes rating bureau DBRS.

Photo: Colourbox

There may be help on the way for squeezed German shipping banks, says global credit rating bureau DBRS. At the end of 2017, the German banks performed well in a stronger environment with rising rates, fewer idled vessels and a large drop in the number of newbuild deliveries in the coming years.

According to DBRS, these factors all contributed to the sales process at HSH Nordbank, which at the end of February announced new owners in the form of several private funds.

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