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German bank: Shipping market still highly uncertain

German bank Nord/LB believes that the shipping market is slowly getting stronger, but the bank still has some reservations about the future of the market.

Photo: Rederiforeningen

NordLB, one of the major shipping banks, has announced views of the shipping market in relation to the publication of the bank's annual report. The business is characterized by uncertainty, says Nord/LB, though the bank remains pleased with its own investments.

"Despite the continuing difficult situation in the international shipping markets, NORD/LB’s financing portfolio has remained very stable. Most of the portfolio can be classified as “performing loans”, while only a small number of ships are unemployed. Due to their low average age, the financed ships have a long remaining useful life with a corresponding earnings potential," says Dr. Gunter Dunkel, Chairman of the bank's Managing Board.

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