Shipping Loan Losses Hit Earnings at Norway’s Largest Bank

By Gwladys Fouche and Mia Shanley OSLO/STOCKHOLM, July 10 (Reuters) - Higher-than-expected loan losses in the shipping sector ate into DNB's second-quarter earnings, sending shares in Norway's largest bank down almost 5 percent on Thursday. Nordic banks made it through Europe's recent financial crisis relatively unscathed, but have suffered from their exposure to … [Read more...]

Norway’s DNB Latest Bank to Sell Shipping Loan

OSLO, Nov 13 (Reuters) - Norwegian bank DNB has sold some of the debt it held against distressed shipping firm Genco Shipping and Trading Ltd, a bank spokesman said on Wednesday. In recent days banks have been trying get out of the shipping sector or scale down exposure to improve their balance sheets. The shipping industry has been in crisis for several years. A downturn … [Read more...]

Bankers: Fooling Themselves, Investors and Shipowners?

It was reported on gCaptain last week, DNB ASA and Nordea Bank AB, two of the world’s largest shipping lenders, are seeing signs of an end to the maritime industry’s five-year slump as bets grow on a recovery in sea-borne trade. This was based upon the fact that these two financial institutions were experiencing lower loan losses in their shipping portfolio. DNB, … [Read more...]

Biggest Shipping Banks See End to Slump as Lending Recovers

July 25 (Bloomberg) -- Nordea Bank AB and DNB ASA, two of the world’s largest shipping lenders, are seeing signs of an end to the maritime industry’s five-year slump as bets grow on a recovery in sea-borne trade. Loan losses at Nordea’s shipping unit slid 15 percent in the second quarter from the first three months, hitting the lowest ratio since the third … [Read more...]