Tuesday, November 6, 2012

[Marine] HSH shipping portfolio down

HSH shipping portfolio down

HSH Nordbank, the world’s largest shipping lender, is reducing its shipping portfolio as required by the European Commission.

HSH has to cut its shipping portfolio from around €19bn at present to €15bn by the end of 2014, a condition set by Brussels in return for allowing state aid.

Meanwhile, fears that the bank may have to make further write-downs on its shipping portfolio are groundless, a high-ranking official at the bank said.



Published : November 5, 2012


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