The island of Saaremaa is to investigate the interest of five shipping companies in establishing a ferry connection between Saaremaa (Estonia) and Latvia.
The rural municipality filed a query to Lindaliin, TS Laevad, Tallink Grupp, Kihnu Veeteed and Saaremaa Laevakompanii and expects a reply by Dec. 1.
Perhaps you asked yourself who we are? What better way than having a picture taken in front of a ferry?
The entire Ferry Shipping Summit team is ready for you, and wishes you a very enjoyable read of this Ferry Shipping News.
This photo of the Ferry Shipping Summit team was already published a couple of weeks ago. Some readers suggested to add the names. Here you are, from left to right: Anita van Schie (Eventmanager), Ron Maes (Senior Advisor), Frans Baud (Director), Mike Louagie (Editor), Bo-Lennart Thorbjörnsson (President), Sandra Snijder (Webmaster), Mats Wanders (Assistent).
German shipping lender HSH Nordbank has been hit hard by the shipping crisis, and must be sold by February 2018, or liquidated.
In the years before 2009 the bank had allocated so many ship loans that it was temporarily the largest financier in the world. Since then, a part of the shipping industry has been in a constant crisis, and many ship owners couldn’t repay the loans. Result: HSH had to live with constant high losses.
CEO Stefan Ermisch is however pretty sure liquidation is unnecessary, as several private equity groups are considering to buy the bank. In the media he expressed his hopes for convincing offers by the end of October.
The financial injection from the federal states of Hamburg and Schleswig-Holstein has now been used up. There is light at the end of the tunnel, as 75% of the full-year target has already been reached.
Sources: Tradewinds, Wirtschafts Woche – Photo © Mike Louagie