Danske Bank: Shipping remains under pressure

The shipping market remained under pressure in the 1st quarter, says Danske Bank in its financial report for the 1st quarter 2013. Low freight rates resulted in increased risks, though no major impairments were performed in the quarter.

Photo: Jonas Pryner Andersen

There's no improvement to be found in the shipping industry, writes Danske Bank, which published its financial report for the 1st quarter 2013 today. The bank's exposure to the shipping market was USD 7.25 billion, compared to USD 7.43 billion by the end of 2012.

"The shipping industry remained under pressure globally in the 1st quarter 2013, where decreasing asset values resulted in a drop in received collaterals," writes the bank in the financial report.

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