Cargo Business Newswire

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Wednesday, January 25, 2012

Lloyds could parcel out $10 bil in shipping loans

Amid the euro-zone debt crisis and a struggling shipping industry, Lloyds Banking Group is reportedly considering selling its $10 billion shipping loan portfolio in parcels rather than to a single buyer, according to sources cited in a Reuters report.

Lloyds is 41 percent owned by the U.K. government and has reportedly been in discussions over the past year to sell its book of ship finance business.

"They are trying to parcel it off and sell it in bits," a senior ship industry source told Reuters.

For the story source: www.reuters.com