Yes, German shipping is not doing too well. Yes, the global industry is still marked by the financial crisis. And yes, NordLB has opted to divest a part of its investments since 2009, in line with an overall reduction in its balance sheet.
Still, the German shipping bank NordLB - unlike its competitors HSH Nordbank and Commerzbank - is not afraid to remain in shipping. Because the bank believes that it will make sense to stay in the business.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.