Latest news from Heavy Lift & Project Forwarding International Magazine

Bad shipping loans threaten German banks

July 22 - A report published by the International Monetary Fund (IMF) claims that bad loans in the shipping sector held by German banks pose a concern to the country's overall banking system, ahead of the European Central Bank's upcoming Comprehensive Ass

Major transitions in banking regulations, supervision and resolution frameworks are entering a critical phase, with many European banks having submitted the first drafts of their recovery plans.

While work on the ECB's stress tests are still ongoing, the authorities are confident that German banks on the whole are "well positioned for the exercise". However, it claims "shipping loans could be a source of further impairments" despite significant improvement in the bank's capital ratios over the past several years.

HLPFI reported in April 2014 that Germany's HSH Nordbank, one of the world's leading maritime lenders, reported soaring losses of USD1.13 billion in 2013, up from USD172 million in 2012. It attributed the result to upping its loan provision for its shipping portfolio in the fourth quarter of 2013.

German banks control approximately one third of the global shipping finance market, which was valued at around US475 billion in 2012, according to Moody's Investors Services.

Heavy Lift | News

ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 101
Ruud Gullit revealed as guest speaker at Heavy Lift Awards thumbnail image

Ruud Gullit revealed as guest speaker at Heavy Lift Awards

September 17 - HLPFI can exclusively reveal that Ruud Gullit - Ballon d'Or winner and former AC Milan, PSV, Chelsea, Feyenoord, and the Netherlands international football icon - will be kickstarting the inaugural Heavy Lift Awards 2019 ceremony.
Views: 303
Shelala joins ALG board thumbnail image

Shelala joins ALG board

September 17 - Compass Forwarding’s Robert Shelala has joined the board of Aerospace Logistics Group (ALG), a network of companies that specialise in the movement of aircraft parts and components.
Views: 255

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