Danish Ship Finance braces for lower 2016 full-year result

Danish Ship Finance can feel that its customers - carriers and offshore companies - are under financial pressure virtually across the board. Fewer loans are needed this year and the bank's results will be lower than last year, according to the interim report.

Danish Ship Finance is expecting reduced activity and a lower result for the full year 2016 as a direct consequence of the downturn in both shipping and offshore.

This is according to the second quarter interim report from the specialized bank, which despite the crisis in the maritime sphere can present a profit after tax of USD 7.93 million for the period. The result is, however, down from the same period last year, where the profit came to USD 11.74 million.

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

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Further reading

Related articles

Latest news

See all jobs