ShippingWatch

German ship owners want state-owned bank to help the industry

The German shipowners’ association VDR denies to ShippingWatch that it is setting the stage for state subsidies to save the struggling shipping companies that cannot secure financing. VDR is asking the state-owned bank KfW to take over shipping loans.

The German shipowners’ association, Verband Deutshce Reeder (VDR) denies allegations that it is trying to set the stage for state subsidies in order to save the many struggling shipping companies that are unable to secure financing, as many banks are withdrawing from the shipping industry.

Vice president of VDR, Max Johns, states to ShippingWatch that the German shipowners’ association wants to bring the state-owned investment bank KfW onto the field, so that the many, especially small shipping companies will be able to secure financing. KfW is a banking institution that was founded back in 1948, following the war, with the primary purpose of helping to rebuild Germany. 80 percent of the bank is owned by the federal government, while the remaining 20 percent are owned by the individual states.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Container reliability hit new low at the end of 2021

Schedule reliability in the container industry set a new negative record in December 2021 with one route in particular hit hard with an on-time arrival rate of only 10 percent, show figures from Sea-Intelligence. Problems in supply chains are still ”a huge burden,” says Hapag-Lloyd.

DNB Markets says oil price could hit USD 100 a barrel

An optimistic scenario could see the oil price go above USD 100 per barrel, DNB Markets forecasts in its latest oil market report. It won’t take much for it to happen, oil analyst Helge André Martinsen says to ShippingWatch.

Cadeler secures two new deals

Shipping line Cadeler, which operates wind installation ships, lands two new deals, one with Vestas, the other with an unnamed customer.

Related articles

Latest news

See all jobs