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...]

Tiny Japan Shipping Shares Jump On North Korea Detente Hopes

by Yoshiyuki Osada (Reuters) - Shares of small Japanese shippers jumped this week after the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country. Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang, … [Read more...]

State Owners Sell Germany’s HSH Nordbank, Once the World’s Largest Shipping Bank, to Buyout Groups

By Arno Schuetze and Jan Schwartz HAMBURG, Feb 28 (Reuters) - A consortium of buyout groups will pay around a billion euros for Germany's HSH Nordbank , once the world's largest ship financier, as it emerges from crippling writedowns and state bailouts triggered by the deepest sector slump on record. The bank's regional government owners said on Wednesday they had … [Read more...]

HSH Nordbank Privatization Attracts Private Equity Offers -Sources

FRANKFURT, Oct 29 (Reuters) - The owners of Germany's HSH Nordbank received binding offers from private equity groups Apollo, Cerberus and J.C. Flowers by a deadline on Friday as part of its EU-enforced privatisation, people close to the matter said. The owners of HSH Nordbank, which required a state rescue after being hit by the slump in the shipping industry, confirmed in … [Read more...]

European Banks Struggle to Solve Toxic Shipping Debt Problem

By Jonathan Saul LONDON, July 24 (Reuters) - Dutch shipowner Vroon is finding talks with banks tough going as it tries to navigate a way out of a long slump in the shipping industry. But it is not an easy time for the lenders either. Vroon, a 127-year-old family-owned group which operates about 200 vessels and transports livestock, oil and other commodities, wants to extend … [Read more...]