15 TH ANNUAL GERMAN SHIP FINANCE FORUM

Transcription

1 15 TH ANNUAL GERMAN SHIP FINANCE FORUM GERMAN SHIP FINANCING BANKS: CHALLENGES, SOLUTIONS & PORTFOLIO SALES 25 TH FEBRUARY 2016

2 Panellists Isaiah Toback Director Castlelake Christoph Geck-Schlich CIO Offen Group Michail Zekyrgias Managing Director Bank of America Merrill Lynch Thomas Mazur Partner, Corporate Finance Deloitte & Touche GmbH Jan Groß Managing Director, Special Loans HSH Nordbank Slide 2

3 Panellists Oliver Faak Global Head of Shipping and Aircraft Finance Nord/LB Nadeem Samaha Associate Director Lapithus Management LLP Martin Hartmann Managing Director, Head of Markets Nord/LB Frank Dunne Chairman & Partner Watson Farley & Williams LLP Slide 3

4 1. German ship lenders have survived many crises in banking and in shipping. How severe are the challenges these institutions face today? Is the traditional model of ship lending changed forever? Slide 4

5 2. What ways can Owners and Lenders adjust their attitudes/behaviour to facilitate continued availability of finance? Are there better solutions than shrinking portfolios? Slide 5

6 3. What is the appetite of Private Equity and Others to purchase shipping loans from the German Banks? Slide 6

7 4. Is it feasible for German Banks to reduce their exposure to shipping given the current state of Dry Bulk and Container Markets? Is it better to wait for a recovery in Shipping Markets? Is waiting an option? Slide 7

8 5. There are many practical and legal obstacles or difficulties to buying German Shipping Loan portfolios. Regulatory; Consents; Tax; Language; Documentation Standards.. do these deter funds from purchases? Are buyers happy to be long term sub-participants? Can purchasers of loans cope with assets which need new funding to continue operatives? Slide 8

9 6. What are the key elements in pricing the purchase of a loan portfolio? Is it simply a discount factor against the market value of the Vessels financed? Slide 9

10 7. Will the device of creating bad banks into which under-performing loans are concentrated be distortive of shipping and ship finance markets? Is this the only way to restore balance sheets? Does it risk making debt and ship-owning markets more volatile? Slide 10

11 8. Do you see German Banks continuing to support their core clients in expanding through the present loan markets or do you see retrenchment across all sectors? Slide 11

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