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Ship Finance on Life Support

Bruce Barnard, Special Correspondent
More than 150 of the single-vessel companies that dominate Germany's shipping fleet, have gone belly-up in the past year. And with charter rates still heading south and banks severing credit lines, the figure could grow by several hundred more within months.
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News & Analysis

 
HSH Nordbank Warns Shipping Recession Will Last Into 2014
23 May 2013
Germany’s HSH Nordbank, the world’s biggest ship financier, warned the crisis in the shipping market could deepen through 2014, as it announced sharply lower net income and more than tripled loan loss provisions.
 
Ex-Im Bank, Dubai Economic Council Sign Accord
11 Apr 2013
The Export-Import Bank of the United States and the Dubai Economic Council of the United Arab Emirates have signed a memorandum of understanding.
 
Ex-Im Bank to Join US Business Solutions Initiative
04 Apr 2013
The Export-Import Bank of the United States will participate in U.S. Global Business Solutions, a new interagency initiative to expand the reach of federal export assistance...
 
Thailand Revises Investment Strategy
04 Apr 2013
In response to the changing local and global economy and to overcome the “middle income trap,” the Thailand Board of Investment is revising its Investment Promotion Privileges and Strategies to promote...
 
Report: Ship Operators’ Liquidity ‘Critical’ for Survival
03 Apr 2013
Ship operators worldwide face “significant” refinancing and default risks, driven by tight bank funding, industry overcapacity, depressed trading conditions, high operating costs and declining ship charter rates...
 
Transnet, China Development Bank Team Up for South Africa’s Infrastructure
27 Mar 2013
Transnet SOC, South Africa’s state-owned ports and rail operator, and China Development Bank have signed an agreement to jointly explore and identify opportunities for the Chinese state-owned bank to have a role in Transnet’s infrastructure upgrade programs.
 
Ex-Im Bank, California Trade Association Sign Marketing Deal
26 Mar 2013
Monterey Bay International Trade Association has signed a City/State Partners program contract with the Export-Import Bank of the United States to accelerate export business by...
 
India’s Trade Deficit Widens to $182 Billion
11 Mar 2013
India’s Ministry of Commerce and Industry reported the trade deficit from April 2012 to February 2013 was $182.1 billion, expanding from the deficit of $169.8 billion in the same period in the previous fiscal year.
 
US Imports Expected to Rise Despite Sequestration
11 Mar 2013
Import cargo volume at the U.S.’s major retail container ports is expected to rise 2.3 percent in March compared with the same month last year, despite federal spending cuts that could slow down cargo processing...
 
US Trade Deficit Expanded to $44.4 Billion in January
07 Mar 2013
The U.S. exported $184.5 billion in goods and services in January and imported $228.9 billion of goods and services, resulting in a goods and services deficit of $44.4 billion, up from $38.1 billion in December 2012...

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