Citigroup’s New Shipping Finance Chairman to Deepen Environmental Focus

By Jonathan Saul LONDON, Aug 22 (Reuters) - Citigroup's veteran shipping finance banker Michael Parker is to become chairman of the bank's shipping & logistics business, a role which will include bolstering the lender's environmental focus in the sector, Citi said on Thursday. In June, Citi was among a group of leading banks who signed up to environmental commitments … [Read more...]

Banks With $100 Billion in Shipping Loans Get Strict on Climate

(Bloomberg) --A group of financiers with $100 billion of loans to shipowners are about to get stricter on the kinds of vessels they’ll finance as part of a drive to improve the maritime industry’s environmental performance. Eleven major financiers including Citigroup Inc. and Societe Generale SA are for the first time adopting a set of principles requiring them to maintain … [Read more...]

Hedge Funds Hunt for Shipping Debt in New Market Push

By Jonathan Saul and Maiya Keidan LONDON, Feb 20 (Reuters) - A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector. World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping … [Read more...]

Deutsche Bank Sells $1 Billion Ship Loan Portfolio

By Arno Schuetze FRANKFURT, June 19 (Reuters) - Deutsche Bank is selling a $1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday. Reuters reported last week that the sale of the portfolio was imminent, as the bank draws a line under sour investments in the sector and starts a fresh push … [Read more...]

Deutsche Bank Said to Offload $1 Billion Ship Loan Portfolio

By Arno Schuetze and Jonathan Saul FRANKFURT/LONDON, June 14 (Reuters) - Deutsche Bank has found a buyer for the bulk of its bad ship loans as it seeks to draw a line under sour investments in the sector and to start a fresh push in transport lending, people close to the matter said. Germany's flagship lender has agreed to sell a non-performing ship loan portfolio with a … [Read more...]