China Banks’ Shipping Move ‘Bit Worrisome’, Deutsche Bank Says
2014-05-22 12:24:50.150 GMT
By Nicholas Brautlecht
May 22 (Bloomberg) -- China’s state-owned lenders “active
as never before” in Europe’s ship financing market, Klaus
Stoltenberg, global head of shipping at Deutsche Bank, says at
conference in Hamburg.
Stoltenberg also says:
* Names like ICBC Leasing prepared to take hundreds of assets
on their books
* Chinese state banks may be “the next Landesbanken” in a
couple of years from now
* NOTE: Landesbanken are Germany’s state-owned lenders such as
HSH Nordbank, Norddeutsche Landesbank
* What Chinese banks “do here is amazing and maybe a little
bit worrisome at the same time”
* Seeing a “huge concentration” of vessels on Chinese banks’
books
* European container liners among counterparties. “Honestly
if I was sitting in their shoes, I wouldn’t do it”
For Related News and Information:
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To contact the reporter on this story:
Nicholas Brautlecht in Hamburg at +49-40-31112-260 or
nbrautlecht@bloomberg.net
To contact the editors responsible for this story:
Angela Cullen at +49-69-92041-158 or
acullen8@bloomberg.net
Cindy Roberts, Steve Bailey
2014-05-22 12:24:50.150 GMT
By Nicholas Brautlecht
May 22 (Bloomberg) -- China’s state-owned lenders “active
as never before” in Europe’s ship financing market, Klaus
Stoltenberg, global head of shipping at Deutsche Bank, says at
conference in Hamburg.
Stoltenberg also says:
* Names like ICBC Leasing prepared to take hundreds of assets
on their books
* Chinese state banks may be “the next Landesbanken” in a
couple of years from now
* NOTE: Landesbanken are Germany’s state-owned lenders such as
HSH Nordbank, Norddeutsche Landesbank
* What Chinese banks “do here is amazing and maybe a little
bit worrisome at the same time”
* Seeing a “huge concentration” of vessels on Chinese banks’
books
* European container liners among counterparties. “Honestly
if I was sitting in their shoes, I wouldn’t do it”
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Nicholas Brautlecht in Hamburg at +49-40-31112-260 or
nbrautlecht@bloomberg.net
To contact the editors responsible for this story:
Angela Cullen at +49-69-92041-158 or
acullen8@bloomberg.net
Cindy Roberts, Steve Bailey