Deutsche Bank grew its shipping loan commitments in Asia in 2011 despite persisting market difficulties particularly in the three major shipping segments, Seatrade Asia online reports. The bank's loan commitments expanded significantly last year, particularly in the growth market of Asia. The region accounted for 18.7% of all loan commitments in 2011 compared to 7.6% in 2010.
Deutsche Bank's shipping finance division approved loans of €1.6bn ($2.6bn) in 2011, up from €1.2bn in the previous year.
“We are very satisfied with the way the business developed in 2011, particularly in light of the continuing uncertainty in the three major shipping markets,” said Ralf Bedranowsky, global co-head of Deutsche Shipping.
Deutsche Bank Shipping believes that the shipping crisis will continue to shape the market. In addition, the shipping finance market is also undergoing structural change, shifting towards the more intense use of the capital markets and potential consolidation. Overall, established providers are reducing their portfolios, while new providers are entering the market.
Deutsche Bank's shipping finance division approved loans of €1.6bn ($2.6bn) in 2011, up from €1.2bn in the previous year.
“We are very satisfied with the way the business developed in 2011, particularly in light of the continuing uncertainty in the three major shipping markets,” said Ralf Bedranowsky, global co-head of Deutsche Shipping.
Deutsche Bank Shipping believes that the shipping crisis will continue to shape the market. In addition, the shipping finance market is also undergoing structural change, shifting towards the more intense use of the capital markets and potential consolidation. Overall, established providers are reducing their portfolios, while new providers are entering the market.