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...]

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...]