Media: Commerzbank's shipping portfolio halved in 3 years

The major German bank's decision to pull out of shipping has led to the bank's portfolio of shipping investments falling to USD 13.43 billion in three years, according to Lloyd's List.

BY LOUISE VOGDRUP-SCHMIDT

About three years ago, Commerzbank chose to completely pull out of the shipping business in which the bank had otherwise been a big player. But due to the disappointing development in the shipping industry following the financial crisis, Commerzbank pulled the plug for shipping while competitors such as HSH Nordbank and NordLB remained in the game of financing the hard-hit German shipping sector.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Major German bank will sell ships in bundles to equity funds
For subscribers
HSH Nordbank to eliminate USD 1.7 billion in shipping debt
For subscribers
Commerzbank divesting container ships
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Offshore

Kristian Siem predicts boom in offshore following a decade of hurt

After a long period of dark clouds on the horizon, the upturn might last longer than one dares to hope for says the head of Siem Industries.

For subscribers

A dry cargo ship arrives in Turkey with a load of Ukrainian grain. | Foto: Umit Bektas/Reuters/Ritzau Scanpix

Bulk

UN wants broad agreement on grain corridor despite Ukraine's solo solution

For subscribers

With this latest order, the French shipping company has now ordered 32 methanol ships. This is eight more than Danish competitor Maersk, which was the first carrier to go down this route. | Photo: Michael Macor/AP/Ritzau Scanpix

Container

Media: CMA CGM places new order for green ships

For subscribers

Currently, 102 ships are waiting to pass through the new and old locks in the Panama Canal, according to figures from Leth Agencies | Foto: Luis Acosta

Bulk

Panama Canal waiting times increase for ships once again

For subscribers

Dominik Schneiter is the CEO of Swiss engine supplier WinGD. | Foto: Wingd

Suppliers

WinGD gets approval for its new ammonia engine

For subscribers

The price will determine whether the sale of DB Schenker will go through, sources tell DPA. | Foto: Marvin Ibo G'ng'r/AP/Ritzau Scanpix

Logistics

Media: Sale of DB Schenker enters next phase

For subscribers

Shipping companies are pressured by higher fuel prices
Falling freight rates are not the only element pushing earnings down towards breakeven for container shipping companies, according to HSBC.
For subscribers
Björn Sprotte leaves V. Ships after almost three years at the helm
The British ship management company tells ShippingWatch it will soon announce a permanent replacement.
For subscribers
Norway's former prime minister praised shipping company in which husband held shares
Erna Solberg praised Wallenius Wilhelmsen in a video, well knowing that her husband owned shares for more than USD 46.000 in the car carrier.
For subscribers
Qatar Energy orders 17 new LNG carriers in billion-dollar deal
The state-owned oil and gas company has signed a deal worth almost USD 4 billion with a South Korean shipbuilder.
For subscribers
MSC extends partnership with Bremerhaven terminal for at least 25 years
The Italian-Swiss container shipping major continues its joint venture with terminal operator Eurogate in Bremerhaven, Germany.
For subscribers
UN warns of huge costs for shipping's green transition
UNCTAD wants shipping to go green much faster, and it will be expensive. Greenhouse gas emissions have grown 20% in the last ten years.
For subscribers

Media: Sale of DB Schenker enters next phase

After a long period of scrutiny, Deutsche Bahn is ready to pursue a sale of the major freight forwarder DB Schenker, report German media.

For subscribers

Container ship from the shipping company MSC in the German port of Bremerhaven. | Foto: Wolfhard Scheer/AP/Ritzau Scanpix

Ports

MSC extends partnership with Bremerhaven terminal for at least 25 years

The Italian-Swiss container shipping major continues its joint venture with terminal operator Eurogate in Bremerhaven, Germany.

For subscribers

Carriers

Car carriers are riding high: "You can sleep very well and cash your money"

The industry is experiencing an unprecedented boom, and according to Gram Car Carrier’s CEO, Georg A. Whist, 40 more vessels could be needed just to fill the gap.

For subscribers