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Wednesday22 March 2023

24/10/2013at 14:50

Major Norwegian bank points to improvements in shipping

Improved developments in shipping mean that DNB's impairments on loans and securities decreased significantly in the 3rd quarter.

Photo: Odfjell

BY OLE ANDERSEN

The world's largest supplier of loans for the shipping and offshore industries, Norwegian bank DNB, points to cautious improvements in shipping in a 3rd quarter interim report published on Thursday, and which greatly surpasses analyst expectations. However, the bank still expects a total loss on shipping in 2013 of between USD 509 - 679 million, compared to USD 543.7 million in 2012.

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