11/10/2013at 15:23

Deutsche Bank: Eco-designs will cut ship values in half

The current fleet is worth USD 550 billion. The banks' exposure is USD 450 billion, while newbuildings are underway for a total of USD 270 billion, and there is no way the banks will be able to finance this, says Deutsche Bank CFO.

by DANIEL LOGAN

Shipowners' and other investors' many eco-design newbuilding orders could lead to "catastrophic losses" because the value of the existing fleet, which is already low, will be cut in half, while the ships' working lives will typically be reduced from 25 to around 15 years, warns Deutsche Bank CFO Nick Roos.

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