New Firm Established to Help Banks Outsource Exposure to Shipping Loans

Hamburg’s maritime asset management firm Ernst Russ AG and Jersey-based investment group Ecofin Holdings Limited have established a new company called Elbe Financial Solutions (EFS) to enable banks to outsource their exposure to shipping loans, thereby providing balance sheet relief.

“While banks want to significantly reduce the volume of their shipping loans, an increasing number of experienced investors are expressing an interest in acquiring such loans,” Bernard Lambilliotte, Co-Founder of Ecofin Holdings Limited (Jersey) and Vice Chairman of Ecofin Ltd. (London), said, describing EFS’s target groups.

As informed, the new company which became operational in May 2017, will assist institutional investors and specialized investment funds in gaining exposure to such loan portfolios. EFS will also supply solutions to loan administration and to operational requirements from the underlying ship assets.

“The significant changes in the maritime sector call for more far-reaching solutions,” Jens Mahnke, CEO of Ernst Russ AG, commented, adding that EFS would optimally serve the changing needs of banks, institutional investors and specialised funds, and would tap new markets that offer “promising opportunities” on behalf of its partners.

Ernst Russ Group oversees a fleet of approximately 180 containerships, tankers and bulk carriers. The group also provides fiduciary services, operates a licensed investment management company and structures and launches alternative investment funds (AIFs).

Established 25 years ago, Ecofin Holdings Limited is involved in energy efficiency and infrastructure related business.

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