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
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
Sellers of Iranian oil to China are offering deeper discounts this month as they look to reduce inventories and as independent refiners slow their buying due to a jump in crude prices, traders and analysts said.
Britain has issued tougher new environmental rules for fossil fuel projects with implications for the development of two vast North Sea oil and gas fields by Shell and Equinor.
The firm building what will become the largest port in India plans to raise as much as 300 billion rupees ($3.5 billion) of debt, giving lenders an opportunity to invest in one of the cornerstones of Prime Minister Narendra Modi’s infrastructure overhaul.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
