Deutsche Shipping Boosts Loan Commitments by a Third in 2011

Deutsche Shipping, Deutsche Bank AG (DBK)’s shipping finance unit, increased its loan commitments in 2011 by 33 percent on higher demand in Asia.

Loan commitments rose to 1.6 billion euros ($2.1 billion) from 1.2 billion euros in 2010, it said in an e-mailed statement today. Loans to clients in Asia more than doubled while the general market remained “difficult,” it said.

“We are very satisfied with the way the business developed in 2011, particularly in light of the continuing uncertainty in the three major shipping markets,” Deutsche Shipping said in the statement. “The shipping crisis will continue to shape the market.”

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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