European banks affected by the economic downturn of the shipping market in 2014 will continue to face difficulties. The European Central Bank promised to asset quality in the upcoming stress tests will be reviewed and the shipping industry as a top priority. As the regulatory authorities to implement the direct supervision of the 130 European banks at the end of 2013, each loan is actively seeking new ways to the implementation of the new policy before shipping to reduce their portfolios.
At this point the German bank is particularly prominent. German banks had before the advent of the 2008 financial crisis adversely affected owners crazy ordering, delivery and later experienced the plight of the amount for five years, and now we are affected by the large number of non-performing loan portfolio. Major banks including Germany's Commerzbank and the German banks, including the North have extended the loan cycle and provides a capital repayment holiday. Northern Bank and other German banks are agents of the loan portfolio of its debtors, they are sold directly to the shipping company. However, such a solution is likely to have a creative challenged the ECB.
In the shipping industry has a long interest in American oak capital investment enterprises in the November expressed the hope that European banks can continue to sell ship loan portfolio in 2014 to respond to the ECB's stress tests. There are signs that a recovery in the shipping market, several recent bank transaction also confirms this fact. Norges Bank and the Royal Bank of Scotland last year to 90% of face value to sell most of the shipping debt.
The official said that for such a large shipping banks, including Germany's Commerzbank, the shipping market situation will not improve in 2015. However, JP Morgan predicts that this year's global economic growth will rebound in the euro zone may be out of recession, so the shipping market this year is expected to be improved.