Hungry equity funds target Danske Bank's shipping segments

Danske Bank's shipping division definitely feels the private equity funds' entry into the shipping market. The bank is getting many and frequent inquiries from the hungry funds. Read on to find out how often the funds come knocking.

Photo: Stena Bulk

While several of the major European banks, such as German Commerzbank, have announced intentions to withdraw completely from the shipping market, there is a current trend moving in the opposite direction: the numerous national and international equity funds, which believe that the crisis in the shipping industry makes this a good time to invest in shipping companies, and which are therefore looking for suitable subjects for acquisitions. And Danske Bank definitely feels this, as the bank, in spite of deferrals for a total of 3.4 percent in the most recent six-month financial report, still believes in its shipping involvements.

Every two weeks, an equity fund comes knocking, especially in Danske Bank's branch in Oslo, which houses the core and management of the bank's shipping interests.

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