German banks carrying a quarter of all shipping loans: Dagfinn Lunde

German banks carrying a quarter of all shipping loans: Dagfinn Lunde

Splash’s finance columnist Dagfinn Lunde has told Reuters that German banks account for nearly one quarter of the world’s $400bn shipping loans, leaving them in a very exposed state.

“German banks account for close to $100bn of shipping debt out of a world total of around $400bn,” Lunde said. Lunde’s career included more than a decade as head of shipping at Germany’s DVB Bank.

Reuters said two other ship finance experts had backed up Lunde’s statistics.

Writing on the topic of German ship finance for Splash last week, Lunde noted: “German banks have been badly burned by shipping and are now adopting a once bitten, twice shy approach to the sector. They are dealing with a lot of problem loans and management at the banks and public owners will not want much new shipping loan business on their books for the foreseeable future.”

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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