NordLB to Chop Shipping Loans by Up to USD 8 Bln

Image Courtesy: NordLB/Daniel Bames

Led by the current slowdown in the shipping market, German shipping bank Norddeutsche Landesbank (Nord/LB) said it will decrease its shipping loans by some EUR 5 to 7 billion (USD 5.6 to 7.9 billion).

Namely, the bank is planning to reduce the shipping portfolio from its current volume of EUR 19 billion by outsourcing risks and targeted reduction to a future volume of some EUR 12 to 14 billion, according to the Chairman of the Managing Board of Nord/LB, Dr. Gunter Dunkel.

“This will not be possible without additional negative impact on earnings. Nonetheless, Ship Finance is set to remain a key component of our business model in future,” Dunkel said.

Nord/LB further said that 2016 will also be a challenging year with “tighter regulatory stipulations, increasingly intensive competition, the continuation of low interest rates and the increasing digitalisation of the finance sector.” 

Added to these factors, as well as the ongoing shipping crises, the bank expects that “risk provisioning will also be negatively impacted to a large extent this year.”

Although it is almost impossible to predict further developments on the shipping markets, Dunkel said that “the only certainty is that things will remain difficult.”

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Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

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Propelling Regional Waterway Connectivity & Fleet-wide Operational Excellence

Ferry travel is in the limelight. The potential for driving tourism growth is immense – and for archipelago nations battling with urban congestion, ferry services pose a clean, efficient alternative in everyday public transport. But high-profile ferry accidents have brought ever greater attention to safety regulations for Asia’s maritime travel industry.

Amid these circumstances, how can vessel operators cope with ever-tightening safety requirements, while making the right decisions at the right time to capture rising demand? What are the smartest ways to improve service reliability and fleet quality, that maximize operating and capital spend? What are the industry’s best-practices for sustainable growth, and how can they be achieved?

Play your part! Join us at the Ferries Asia Summit 2017 to push forward the regional debate on making Asia’s ferry industry more progressive, safe, and commercially sustainable. Bringing together fast-ferry, RO-RO and ROPAX vessel owners along with international and domestic maritime regulators, classification agencies, shipbuilders and naval architects, this event connects the entire value chain for a meaningful holistic debate on ferry operations excellence in Asia.

WHAT’S ON THE AGENDA THIS YEAR?

Comprehensive debates on addressing the complexity of ferry safety in Asia: Is vessel age truly the greatest concern? How significant are other factors, and how can they be addressed?

Pathways to change through greater public-private collaboration

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Cost-efficient O&M strategies to extend vessel life & tips for stakeholder management to avoid purchasing mistakes

Integrating ferry business with tourism opportunities through strategic partnerships

Exciting formats including speed networking, panel discussions & a high-intensity fast-pitch ‘Shark Tank’!

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