ShippingWatch

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Stolt-Nielsen reports best quarterly profit in years

Norwegian Stolt-Nielsen, which has acquired shares in competitor Odfjell, benefitted from higher volumes and spot rates in the chemical tanker market and predicts further improvement in the market. The company is, however, not quite ready for ordering newbuilds.

Skuld opens new office in Tokyo

Skuld is to open a Japanese branch located in Tokyo. To lead the division, Skuld recruits former deputy general manager from Japan P&I Club.

Further reading

Related articles

Latest news

See all jobs