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New shipping bank to be launched in OsloNew shipping bank to be launched in Oslo

There is set to be a new name in the ship finance sector as a group of Norwegian investors along with shipowner and operator Henning Oldendorff form a shipping bank.

Marcus Hand, Editor

October 4, 2013

1 Min Read
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The new bank Maritime & Merchant bank will be based in Oslo and will apply for a banking license later this year with a view to starting operations in the second quarter of next year according to reports. The bank will raise $300m in equity to fund operations and meet regulatory requirements.

The bank is reported to be aiming to plug the gap for smaller–to-mid sized owners who have been hit by either the withdrawl completely or downsizing of some of the major banks shipping portfolios.

“For the huge continental banks it will probably have consequences that shipping would not necessarily be their priority because they have to concentrate on their core business,” Halvor Sveen, ceo of the new bank told Bloomberg.

Oldendorff is chairman of Maritime & Merchant Bank.

Read more about:

Oldendorff

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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