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Major German bank will sell ships in bundles to equity funds

Through its Singapore branch, major German shipping bank Norddeutsche Landesbank is offering ships in bundles to Asian private equity funds.

Germany's second-biggest lender to the shipping industry, Norddeutsche Landesbank (NordLB), will try to make Asian private equity funds acquire parts of the bank's loans. Last year the German bank began to combine ships in bundles of 10-20 units that the bank offers to equity funds in Asia through its Singapore branch, Thomas Buerkle, member of the NordLB executive team and head of the bank's risk division, tells Bloomberg.

"In Asia, they are not talking about a shipping crisis. In Asia, you have investors that put their money in ships, as they believe that the slump is so deep now that it offers good opportunities," says Thomas Buerkle.

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