Archive for the ‘Banking’ Category

DVB Bank SE placed second €500 million senior unsecured benchmark issue in 2012

Wolfang F. Driese DVB tapped the financial market with a five-year €500 million transaction. This was the Bank’s second euro-denominated senior unsecured benchmark issue in 2012, following its inaugural three-year €500 million benchmark transaction in May. Wolfgang F. Driese, CEO and Chairman of...
August 24th, 2012 | Banking | Read More

Shipyards saga in Greece continues, but Greeks can do it if…..!

Shipyards saga in Greece continues, but Greeks can do it if…..!
We continue our reporting with the shipyard saga in Greece following governmental announcement/appointment of a coordinator project planner… Indeed the Greeks can do it if the right persons are appointed to do the job! As you all know, Nicholas Anastasopoulos, former CEO of the Piraeus Port Authority...
August 20th, 2012 | Airline Industry, Breaking News, Coastal Shipping, Energy, Flags, Jobs, Manning - Seafarers and Offshore, Oil Platforms and Rigs, Politics and Government, Ship Conversions, Shipbuilding and Shipyards, Shipfinance, Shiprepair, Tourism | Read More

Marco Polo Seatrade exits Chapter 11

Marco Polo Seatrade and its affiliated companies have obtained final approval of their Plan of Liquidation from the New York Bankruptcy Court overseeing the Chapter 11 case. The plan was unanimously approved by all Marco Polo creditors, and the Court entered the final order at the confirmation hearing...
August 14th, 2012 | Company Profiles, Finance, Legal | Read More

DVB Group posts a marked increase in consolidated net income before IAS 39 and taxes for the first half of 2012

Wolfgang Driese DVB increased its consolidated net income before taxes (and excluding net result from financial instruments in accordance with IAS 39) by 36.6%, to €91.1 million (H1 2011: €66.7 million). Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors, commented on DVB’s...
August 8th, 2012 | Banking, Finance, Shipfinance | Read More

DVB Bank SE discontinues rating contracts with Moody’s Investors Service

Wolfang F. Driese with Dagfinn Lunde on his right In June 2012 Moody’s Investors Service (Moody’s) took various rating actions on German banks and their subsidiaries. DVB received a significant rating downgrade of up to three notches in various rating categories (long-term rating Baa1/stable...
July 25th, 2012 | Banking, Markets | Read More

HSH Nordbank repays the final SoFFin bond

Repayment of the last SoFFin bond in the amount of EUR 3 billion underscores restructuring progress The Bank’s funding base further strengthened HAMBURG/KIEL HSH Nordbank on Monday repaid its last bond, in the amount of EUR 3 billion, guaranteed by the Special Financial Market Stabilisation...
July 24th, 2012 | Banking | Read More

HSH Nordbank finances solar park with 24.1 MWp output

HAMBURG/KIEL Having already financed five solar parks in Lombardy and Emilia-Romagna with a total capacity of 10.5 MWp (megawatt peak) in June of this year, HSH Nordbank is now providing the finance for a further major project in Italy. The most recent project is a solar park at three sites in the Lazio...
July 6th, 2012 | Energy, Finance | Read More

UN proposes mechanisms to raise $400 billion to close gap on development financing needs

Robert Vos of the UN Department of Economic and Social Affairs, launches report at press conference. UN Photo/D. Berkowitz 5 July 2012 – In a major report, the United Nations today proposed a series of financial mechanisms to raise $400 billion annually for development needs, as many donor countries...
July 5th, 2012 | Finance | Read More

HSH Nordbank successfully places Schuldschein for HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH

HSH Nordbank successfully places Schuldschein for HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH  Placement volume of EUR 550 million Order book closed prematurely due to strong demand Pricing at the lower end of the subscription range HAMBURG/KIEL HSH Nordbank has successfully...
June 12th, 2012 | Finance | Read More

Emporiki Bank’s successful Posidonia reception

Emporiki Bank’s successful Posidonia reception
Andreas Bagias, Theodore Polydoros, Panagiotis Tsafaras, Nicholas Embeoglou, Lilian Evgenides and Despina Keramioti At the Arion complex of the Astir Palace, on the Vouliagmeni beach resort south of Athens, next to the Westin where the AllAboutShipping team was attending earlier on the Korean Shipbuilders’...
June 8th, 2012 | Events, Shipfinance | Read More

Ship Financing – or lack thereof – under Posidonia Spotlight

Ship Financing – or lack thereof – under Posidonia Spotlight
Jean Richards A few days after Aggelikousis Group’s US$1.25 billion credit facility with six banks for the financing of nine LNG carriers was made public, delegates of a shipbuilding conference held during the fourth day of this year’s Posidonia Exhibition heard that increasing defaults on existing...
June 7th, 2012 | Conferences, Seminars, Forums, Shipfinance | Read More

RBS steals the opening Posidonia show

RBS steals the opening Posidonia show
Lambros Varnavides head of Shipping, Andy Georgiou RBS' Coutry Manager and Fotis Bratimos, head of Shipping Piraeus greeting incoming guests Never ever before a Bank could have a “brigade” of guests in a buffet reception, particularly at Posidonia; but the Royal Bank of Scotland did! On a promising...
June 7th, 2012 | Events, Shipfinance | Read More

HSH Nordbank places further benchmark mortgage pfandbrief

HAMBURG/KIEL HSH Nordbank today placed a benchmark mortgage pfandbrief in the amount of EUR 500 million and with a term of 4 years. HSH Nordbank has thus successfully placed its second mortgage pfandbrief in benchmark size this year; the first issue took place in late March 2012. The coupon of the pfandbrief...
May 30th, 2012 | Banking | Read More

HSH Nordbank off to a solid start to financial year 2012

Dr. Paul Lerbinger Group net income accounts to EUR 128 million in the first quarter Positive result before restructuring influenced by special items Robust performance in the Core Bank’s client business, new business doubled Tier 1 capital ratio strengthened further to 14.5 percent Chairman of...
May 24th, 2012 | Banking, Finance | Read More

Engagement of China’s banks with shipping industry discussed at key conference

Engagement of China’s banks with shipping industry discussed at key conference
H.E. Liu Xaioming, Ambassador of the People's Republic of China to the United Kingdom of Great Britain and Northern Ireland delivering his welcome speech Last Tueday 15th May 2012, the finance and shipping industry came together for the China Money & Ships conference held at Haberdashers’ Hall,...
May 17th, 2012 | Conferences, Seminars, Forums, Shipfinance | Read More

DVB’s consolidated net income before IAS 39 and taxes as at 31 March 2012 only down slightly year-on-year

DVB’s consolidated net income before IAS 39 and taxes as at 31 March 2012 only down slightly year-on-year
Wolfgang F. Driese Consolidated net income before IAS 39 and taxes declined slightly to €37.1 million for the first quarter of 2012, down 6.3% year-on-year (Q1 2011: €39.6 million). Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors, commented on DVB’s quarterly results: “As...
May 15th, 2012 | Banking, Shipfinance | Read More

Renewable energies unstoppable

HSH Nordbank aims to almost double its new business in renewables Entry into hydro and geothermal energies being examined Large solar projects involving private purchase commitment contracts for electricity will once again become profitable from 2014 at the latest Consolidation among photovoltaic producers...
May 8th, 2012 | Banking, Energy | Read More

Edwin Wartenweiler to become new CRO at HSH Nordbank

Edwin Wartenweiler to become new CRO at HSH Nordbank
HAMBURG/KIEL – Today the Supervisory Board of HSH Nordbank appointed Edwin Wartenweiler (52) as the Bank’s CRO (Chief Risk Officer) for a period of three years. Mr. Wartenweiler will take up his new position on 1 June 2012. Edwin Wartenweiler is coming to HSH Nordbank from FMS Wertmanagement...
May 2nd, 2012 | Banking, News, Safety and Security | Read More

Cecon ASA – Agreement with Export Development Canada

Cecon ASA has received an acceptance from Export Development Canada (EDC)  for Cecon ASA’s proposal to acquire the rights in the USD 200 million EDC financing received by Cecon ASA February 2009.   Cecon ASA will proceed to negotiate a final purchase and sale agreement whereby EDC will sell their...
April 24th, 2012 | Markets, Shipbuilding and Shipyards, Shipfinance | Read More

Shipping not properly prepared for uncomfortable bank meetings

Paul Edwards INTERNATIONAL accountant and shipping adviser Moore Stephens has warned that some shipping companies are not adequately prepared to conduct successful negotiations with their banks which are likely to occur with increasing frequency. Paul Edwards, a Moore Stephens corporate finance director,...
April 19th, 2012 | Accountancy, Shipfinance | Read More

New horizons in trade finance

Matthew Parish The market for financing commodities trades, long dominated by a handful of European banks, is becoming more restrictive. Major players have been tightening rules to exclude certain categories of commodities deals and reduce trade finance as a proportion of their total book of business. The...
April 5th, 2012 | Finance, Trade and Commerce | Read More

Dr. Torsten Arens is the new Head of Management Board COO at HSH Nordbank

HAMBURG/KIEL The Management Board of HSH Nordbank has appointed Dr. Torsten Arens (44) as Head of Management Board COO. In this position Dr. Arens will be responsi-ble for all COO units in the Bank including IT, Operations and Services. He is taking over the duties of the previous general manager and...
April 4th, 2012 | Banking | Read More

Benchmark mortgage pfandbrief of HSH Nordbank successfully placed

EUR 500 million issue almost three times oversubscribed Strong demand from institutional investors Hamburg/Kiel, 29 March 2012 – HSH Nordbank today placed a benchmark mortgage pfandbrief in the amount of EUR 500 million and a term of 5 years. The coupon is 1, 875 percent. The issue price was set...
March 29th, 2012 | Banking | Read More

HSH Nordbank achieves fresh start under difficult market conditions

HSH Nordbank achieves fresh start under difficult market conditions
Introduction of a new business model and positioning as a ’bank for entrepreneurs’ launched on the market following conclusion of the EU state aid proceedings Positive feedback from clients: new business and cross-selling significantly increased Net income before restructuring improved to EUR...
March 23rd, 2012 | Banking, Shipfinance | Read More

DVB’s sustainable expertise in finance

DVB’s sustainable expertise in finance
Bertrand Grabowski, Wolfgang F. Driese and Dagfinn Lunde Last Friday’s breakfast at the Quarters Room of the renovated St. Pancras Renaissance London Hotel by DVB Bank’s top echelon, provided a unique presentation to the media; in my humble view this was a tribute to Intermodalism! After a brief...
March 14th, 2012 | Aviation, Banking, Conferences, Seminars, Forums, Energy, Oil Platforms and Rigs, Shipfinance | Read More