Worst Shipping Crisis Ever Near End as Nordea Sees Loan Growth

Sept. 20 (Bloomberg) -- Nordea Bank AB, Scandinavia’s biggest lender, said the shipping industry will next year begin to recover from its worst crisis on record as global demand picks up and freight rates and asset prices recover. While “2013 will be another tough year in most segments, sometime in 2014 we’ll probably start seeing a gradual improvement in … [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...]