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Monday, September 23rd, 2019

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by April 24, 2017 General

NordLB is one of the banks which have been hard hit by the downturn in shipping. Photo: PR/NordLB.

Shipping still hurting banks

German banks, which used to be dominant in shipping, have lost vast amounts on their loans to the struggling sector. According to several observers, the German financial institutions have lost their global lead in shipping.

Shipping banks have impaired loans for USD 3.4 billion
 

German shipping banks have outplayed their global lead
 

Bertram Rickmers is ready to give up control to banks
 

John Fredriksen’s Frontline lost the battle to acquire DHT.

DHT rejects Frontline once and for all

Tanker carrier DHT Holdings finally warded off Frontline’s attempt to take over its competitor. A New York court ruled Thursday that DHT has not broken any rules in the transaction with BW Group. As such, Frontline has lost its last chance to acquire DHT.

Frontline unsuccessfully courted DHT for more than a year
 

DHT and BW Group defy Fredriksen’s block attempt
 

Fredriksen to block DHT deal with 11 tanker vessels
 

Jesper Lok heads the Danish government’s appointed maritime growth team. Photo: Carsten Andreasen/Polfoto/Arkiv.

Maritime growth team in Denmark

A maritime growth team in Denmark has made its recommendations for the sector including an expansion of the DIS tax scheme. This means that carriers in the oil and wind industry in the North Sea can pay out net wages to crews on board the ships.

Denmark launches strategy for maritime growth
 

Make sure also to read about Singapore’s rescue package for shipping, an interview with Nordic Tankers, and Rickmers Maritime Trust, which is now selling its entire fleet of 14 container vessels to Greek carrier Navios.

Nordic Tankers CEO: Increased consolidation is the obvious solution
 

Rickmers Maritime Trust sells entire fleet to Navios
 

Singapore ready with rescue package for shipping
 

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