Exclusive: Deutsche Bank looking to sell $1 billion of shipping debt

July 6, 2016 12:37 PM

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Exclusive: Deutsche Bank looking to sell $1 billion of shipping debt

LONDON/FRANKFURT Deutsche Bank (DBKGn.DE) is looking to sell at least $1 billion of shipping loans to lighten its exposure to the sector whose lenders face closer scrutiny from the European Central Bank, sources told Reuters.

While the oil tanker trade has picked up, the container and dry bulk shipping industries are struggling with their worst downturn due to a glut of ships, a faltering global economy and weaker consumer demand.

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