ShippingWatch

Lloyd Fonds: Shipping must become more sophisticated

The crisis in shipping, in Germany as well as globally, has in spite of its severity served as an eye opener for the industry, says German investment house Lloyds Fonds.

Photo: Hansa Heavy Lift

HAMBURG: The crisis in shpping, which has now lasted at least five years, and which no one dares to really guess at when will end, has also brought some good things with it. First of all, it's a wake-up call to the present day, to the 21st Century, says Torsten Teichert, CEO of investment house Lloyds Fonds, Hamburg, which has more than 3.5 billion Euros invested in shipping. The wake-up call covers both shipbuilding, financing, and the technological aspects.

“Let me put it like this: Ship-building has gone through big changes in the last 12 years. Just six years ago a big number of ships were built at Greenfield Yards in China. Every plane or car was built in a more efficient way. During the crisis, low-quality shipyards were the first to disappear. Today we see totally new designs, fuel efficiency as an absolute must, better quality – at extremely low prices.” says Torsten Teichert, who believes that the industry is only now beginning to enter the 21st Century.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
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

Further reading

Related articles

Latest news

See all jobs