ShippingWatch

Danske Bank ready for new shipping investments

After reducing its shipping exposure by USD 1.45 billion from 2012 to 2013, Danske Bank is once again ready to invest in the sector. The bank is part of Hafnia Tankers, and others.

Danske Bank's Global Head of Shipping, Øivind Haraldsen, believes that most shipping segments have bottomed out, and that the agenda now consists of growth and improvement. The only part of the industry that remains challenging is the container segment. The bank has a fairly large exposure to this segment in particular, though it adds that this exposure "primarily involves solid customers."

According to the bank's annual report, Danske Bank's lending commitments in shipping decreased by USD 1.45 billion, down to USD 6.52 billion by the end of 2013, but Øivind Haraldsen states that it is not the bank's goal to see further reductions of this scale in the shipping sector going forward.

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