Services

DVB: Shipping will not recover before 2015

German DVB Bank increased its loans to shipping by two percent from 2012 to 2013 and - in spite of a lower revenue in 2013 - the bank believes things will improve going forward, though shipping will not recover before 2015.
BY LOUISE VOGDRUP-SCHMIDT

DVB Bank, which describes itself as a transport bank, due to the fact that the bank - in addition to shipping - provides loans to the aviation industry, the offshore sector, as well as road transport companies, has published its annual report for 2013, which shows a declining profit for the bank - a major lender to the shipping industry.

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