Sector is marked by mixed financial fortunesTaken from: Tanker Shipping & Trade August/September 2012
As this month’s German finance feature makes clear, the sudden and unexpected exit of Commerzbank from ship finance has caused particular concern among shipowners, even though the bank had not done any new business for some months. Commerzbank had been one of the biggest providers of loan finance to shipping.
This development has been followed by French bank Societe Generale’s announcement that it has sold part of its shipping loan portfolio to US bank Citigroup. Back in January the....Please login to read the rest of this story
Or click here to subscribe: