Albeit early signs of recovery became visible during the first months of 2017, the shipping industry’s protracted slowdown will continue to exert pressure on German ship lenders’ profitability.In its latest report, Moody’s rating agency informed that the five biggest German ship lenders reported outstanding ship-related loans of EUR 59 billion at the end of 2016, with an average problem loan ratio of 37% in 2016, up from 28% in 2015.This rise forced several banks to raise reserves and, in part, realise losses during 2016. While this has improved the banks’ aggregate problem loan coverage ratio to 51% at the end of 2016, from 45% in 2015, Moody’s believes a coverage ratio of at least 60% is necessary for banks to be adequately provisioned for potential losses from shipping loans.“Despite measures taken by individual banks in recent years, some German lenders to the shipping industry will face incrementally higher credit costs as long as the industry fundamentals remain weak and supply outstrips demand,” Michael Rohr, a Moody’s Vice President – Senior Credit Officer, said.Sustainably raising the coverage ratio to this level will be most challenging for DVB Bank S.E. and Norddeutsche Landesbank GZ. These two banks therefore are at risk of incurring net losses and see their capital erode further during 2017, Moody’s informed.
Have you read where Middletown, Ohio, high school football coach, Lance Engleka, resigned his head coaching job last week? His record for the two years at Middletown was 1-19. The one win came this year. This is not, however, why he resigned. His reason for resigning was because of the death threats he was getting because his team didn’t win.High school sports are supposed to be for the love of the game. After all, even though we have open enrollment in many states, that is for upgrading education and not for recruiting athletes. This means you play the kids you have available at that time. Middletown is in a down cycle right now, but you can bet they will be back. They have a proud history in their football program. You must have talent to win, and right now the talent is not available at Middletown High School.Some information for this story was from the Cincinnati Enquirer.
Maintaining the second spot with 15 points with Lae Welgris United followed closely behind with 14 points Madang FC must win this game this weekend against rivals Lae Welgris to maintain their lead.Madang FC Patron and Governor Jim Kas while hosting the teams get together after the weekend home game against Goroka Goshia FC, assured the boys he will be there with them in Lae to cheer them on and urgec them to stay focussed and win this game.“It is a must-win game and I want all of you to stay focussed, give your best on the training field and grasp what is given by coaches to go up against Welgris,” Kas said.Madang FC Board comprises of Governor Jim Kas as Patron, Chairman is Deputy Provincial Administrator Paul Ito, Managing Director of Sigma Construction Sigfred Beche as Deputy Chairman responsible for home games grounds, Burnie Meten Principle Lawyer, Meten Lawyers as legal advisor, Collin Mileng Telikom Momase Regional Networking Manager as Treasurer, with other board members including Adolf Duanga Deputy Provincial Administrator Corporate and Government Affairs, Madang Chamber of Commerce President Kevin Murray, Lukae Mano and Freda Pomat.Board Member Duanga who is in charge of MFC Administration wants nothing more than a win this weekend to keeps the fire burning.Duanga yesterday, during the boys training urged them to aim high and win this weekends game against Lae Welgris before coming back for the last home game against Lae City Dwellers.Duanga says the board members stand together with the management and fans to support the boys and will not let them down.Meanwhile Madang FC coach Bob Morris with his assistant Amos Romo said the mistakes of the last weekend game against Goroka FC have been worked on during the training season this week.He said this weekends game will be a tough one but he is ready to put a strong team to challenge Welgris United who are one point behind them.Morris said he will announce the team tomorrow before travelling to Lae and are looking forward to the game against Lae Welgris.He said he will be calling on captain Max Sengum and his assistant Vanya Malagian to lead the boys with Felix Komolong and Langarap Samol provide good leadership in the backline.However, Morris said the boys know what is expected of them and will play to their best.He said the boys will leave for Lae tomorrow and will prepare for the game on Saturday.