BERLIN,
Feb 14 (Reuters) – German public-sector lender NordLB is not planning a merger with peer HSH Nordbank, its Chief Executive said in reaction to comments from an HSH stakeholder that such a deal could make sense.
“We are not examining (a merger) and have no considerations on this,” Gunter Dunkel told Reuters on Friday, adding he still sees no advantages from a combination of the two so-called landesbanks.
The head of the association of savings banks in the state of Schleswig-Holstein – which hold 5.31 percent in HSH Nordbank – said earlier this month there were no longer any reasons for having two large public-sector ship financiers in Germany.
NordLB’s Dunkel also said that in some shipping segments he expects a tentative recovery of freight rates in 2015 and a return to long term averages in 2016.
According to the bank, the rebound will not occur in the bulker and oil tanker segments.
(c) 2014 Thomson Reuters, All Rights Reserved
This article contains reporting from Reuters, published under license.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
By Vince Golle (Bloomberg) Shipping costs are rising as hundreds of container ships that typically transit the key maritime artery of the Red Sea and Suez Canal are rerouting after a...
In the realm of economics, where numbers often paint a more eloquent picture than words, we sometimes find ourselves bamboozled by the outliers. Let’s talk about France and the latest...
by Captain John Konrad (gCaptain) Todd Hornbeck, the CEO of Hornbeck Offshore, recently delivered a talk at the Marine Money Week Conference in NYC. He presented an optimistic outlook for...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
