ShippingWatch

DNB warns banks not to repeat grave mistake during upturn in shipping

Shipping banks have previously made a classic mistake during a market upturn, essentially causing an acceleration of the subsequent downturn. In an interview with ShippingWatch, maritime bank major DNB warns against repeating it.

Photo: INTS KALNINS/REUTERS / X02120

Norwegian DNB warns shipping banks not to repeat a classic mistake in the current upturn which has previously worsened the ensuing downturn and crisis.

In an interview with ShippingWatch, Head of Shipping at DNB Christos Tsakonas urges the industry not to get carried away but to remain prudent although vessel values are rising and, some would say, going through the roof.

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