24/06/2014at 09:42

NordLB: Still reason to believe in shipping

German bank Nord LB has - unlike several of its competitors - opted to stay in shipping. "Shipping is still a good investment even though the market is not in fine shape right now," the bank's Head of Ship Finance tells ShippingWatch.

BY LOUISE VOGDRUP-SCHMIDT

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.

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NordLB still struggling with risky shipping loans
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The hammer falls on HSH in late 2014
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HSH Nordbank preparing new large divestments

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