According to chief executive of DVB Bank’s shipping division Dagfinn Lunde, now could be a good time to consider investing in containerships despite the poor state of the liner and containership charter markets.

He confirmed that the bank has recently agreed to finance a pair of 6,000 teu containerships for a German owner. “No-one else was interested, but it was a good deal with five-year charters at a rate that covers operating costs and loan repayments,” Mr Lunde said. “We are probably the only bank committing new business for container shipping in Germany, but we like the look of it.”

He added that it was a good time to go into container shipping, with values having fallen and some interest appearing from clients for new deals.

Mr Lunde said that DVB had capacity to do further new business. Its shipping portfolio had remained steady at about $13.5bn for the last six months, but this year it had rolled over about 22%-23% of its shipping loan portfolio and expected to do about the same again in 2010 with additional growth.

“We had a good year this year and expect another good year next year,” he said. By contrast with many shipping banks in the current market, DVB has not faced an acute shortage of capital.

Other finance providers have said that they have been approached by a number of investors looking for opportunities to invest in containerships at current low values. The providers said the key was to find the right type of modern ship and obtain employment for the vessel, even if it was only at operating cost level. Funds could be set aside to service the debt, while the owner then held tight until values increased as the market recovered, he said.

Source: Lloyds List, December 2009