DVB Bank: Second half gloom to continue

The Managing Director of the DVB Bank predicts that the tanker and container markets will continue to look bad in the second half of 2009.

Dagfinn Lunde said that more shipping companies would experience liquidity problems as the market continued to be depressed.

DVB Bank, which specialises in transport finance, posted a pretax profit of US$68.6 million for the first half of 2009, down from US$120 million one year ago.

DVB Chief Executive Wolfgang Driese said that despite the fall in figures, he was satisfied with the company’s results, considering the current economic environment.

(Source: Bairdmaritime)