EuropeFinance and Insurance

NordLB forms joint venture for restructuring of shipping loans

German bank NordLB has announced a new joint venture with Reederei Offen Group and Caplantic to advise on the restructuring of non-performing shipping loans.

The bank said currently there is noticeable interest in the shipping industry from institutional investors, however, many of these investors neither have the necessary technical expertise, nor special credit expertise to successfully manage the investment.

NordLB, Reederei Offen Group and Caplantic will each own a third of the joint venture, named Crystal Ocean Advisors, which will offer restructuring services for troubled ship financing portfolios, but will not take ownership of the assets.

“Our joint venture offers unique integrated services, based on technical expertise and decades of experience in the financing of ships,” said Oliver Faak, head of ship finance NordLB and designated chairman of Crystal Oceans Advisors.


Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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