In spite of media speculation to the contrary, the world's biggest lender to the shipping industry, HSH Nordbank, looks set to pass the stress test that 130 banks in the Eurozone have been subjected to during the past seven months by the European Central Bank (ECB), which will take over supervision of the banks next year.
The result of ECB's analyses of the banks' capital resources in the event of a new financial crisis will be published on Sunday, October 26th.
More from ShippingWatch
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.