Hamburg bank opens for loans on older ships: "We do see a gap in the market"

Hamburg Commercial Bank defies current trends with credit facilities for ships aged as much as 15 years. "It is a very low risk business," says the bank's head of shipping, eying a gap in the market.

Jan-Philipp Rohr replaced Christian Nieswandt as head of shipping at Hamburg Commercial Bank around the turn of the year, when the bank was privatized. | Photo: PR / Hamburg Commercial Bank

Hamburg Commercial Bank (HCOB) has opened a new offering for shipping companies who want buy and operate old ships.

The shipping bank formerly known as HSH Nordbank started lending money this year for vessels aged around 15 years.

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