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KKR walks away from NordLB’s shipping loans

KKR walks away from NordLB’s shipping loans

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German lender NordLB has ditched plans to sell a EUR1.3bn ($1.5bn) portfolio of shipping loans to KKR, after around a year of negotiations.

NordLB is now looking at selling individual ship loans as it views that as more profitable than a sale of portfolios. It still anticipates to pare back its shipping loan exposure to EUR12bn to EUR14bn buy the end of this year.

German banks have been going through a belated massive clear out of shipping loans over the past eight months.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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