Danish Ship Finance: Low oil price can increase overcapacity
Danish Ship Finance achieved increasing interest earnings by lending out money for vessels in a struggling market, but the bank warns that a continued low oil price could lead to further weakened conditions in shipping, the company writes in the 2015 annual report.
BY CHRISTIAN BARTELS
In spite of an increase in interest earnings from the core business - which is lending to vessel acquisitions and newbuildings - Danish Ship Finance warns in its latest annual report that the current struggling markets will become even more squeezed if the low oil price causes ships to pick up speed.
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