Search results for: HSH Nordbank

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  • 23 January 2017
    Business & Finance

    HSH Beteiligungs Management has started a bidding process to sell the majority of the shares in Germany’s HSH Nordbank, one of the world’s biggest providers of shipping finance. HSH Beteiligungs Management, owned by the Federal States of Hamburg and Schleswig-Holstein, is putting up for sale up to 94.9% of HSH Nordbank’s shares as part of the […]

  • 14 May 2015
    Business & Finance

    German lender HSH Nordbank is focusing its international shipping business on South Korea through the announced cooperation with the Export-Import Bank of Korea (Korea Eximbank) and Busan, Korea’s second-largest city after the capital Seoul.  The collaboration comprises projects involving finance for Korean and international shipping companies, export finance, loan syndication and refinancing. Moreover, the possibility of collaboration in the […]

  • 5 December 2017
    Business & Finance

    German shipping lender HSH Nordbank could fetch a price of USD 237 million (EUR 200 million) from potential new buyers, the Wall Street Journal reported citing unnamed sources. Cerberus Capital Management LP and J.C. Flowers have submitted a joint bid, while Apollo Capital Management and London-based Socrates Capital filled separate offers, according to the report. The […]

  • 30 June 2016
    Business & Finance

    Germany’s HSH Nordbank, one of the world’s biggest providers of shipping finance, transferred a portfolio of non-performing loans from ship financing with a volume of EUR 5 billion (USD 5.5 billion) to hsh portfolio-management AöR of majority owners Hamburg and Schleswig-Holstein effective June 30, as planned. In return, HSH Nordbank will receive the transfer price of […]

  • 13 November 2015
    Business & Finance

    Indian-owned dry bulk specialist Mercator Lines (Singapore) Limited will not be run by an interim judicial manager as requested by the company’s creditor, the Singapore branch of HSH Nordbank AG. As World Maritime News reported yesterday, HSH Nordbank AG asked for an interim judicial manager to be appointed while the financially troubled company is undergoing restructuring. However, the […]

  • 28 August 2015
    Business & Finance

    German lender HSH Nordbank is in talks with its government owners and the European Commission over long-running dispute on state guarantees within the framework of the bank’s efforts to alleviate the pains caused by its USD 11 billion legacy ship portfolio. Namely, despite progress in operating profit that amounted to EUR 222 million (USD 250 million) […]

  • 30 October 2017
    Business & Finance

    Owners of the German-based provider of shipping finance HSH Nordbank have received several binding bids for the entire bank. Following the indicative bids made in March and June of this year, a crucial milestone on the way to privatization has thus been reached, HSH Nordbank said in a statement. Although the bidders have not been […]

  • 4 February 2015
    Business & Finance

    Hamburg-based HSH Nordbank has placed a EUR 500 million (USD 571.9 m) ship covered bond, the German bank’s first large-volume ship bond since 2008. The order book of the benchmark ship covered bond was substantially oversubscribed within a short period of time. The most recent placement by HSH Nordbank continues on from two smaller issues […]

  • 5 May 2016
    Business & Finance

    The European Commission has adopted a resolution on state aid proceedings for Germany’s HSH Nordbank, provided by the two German states of Hamburg and Schleswig-Holstein that own the bank, adding that the bank’s privatisation has to be completed by the end of February 2018. HSH Nordbank, which is one of the world’s biggest providers of shipping finance, plunged into financial woes in […]

  • 12 June 2017
    Business & Finance

    After it submitted an application for insolvency with the aim of restructuring, the German maritime services provider Rickmers Holding is looking to delist its bond issue. In a letter dated as of today, the company said that it has terminated the participation in trading of the bond 2013/2018 in the Prime Standard segment for bonds and […]

  • 28 August 2015
    Business & Finance

    German lender HSH Nordbank is in talks with its government owners and the European Commission over long-running dispute on state guarantees within the framework of the bank’s efforts to alleviate the pains caused by its USD 11 billion legacy ship portfolio. Namely, despite progress in operating profit that amounted to EUR 222 million (USD 250 million) […]

  • 30 March 2017
    Business & Finance

    Germany’s shipping finance provider HSH Nordbank has reported high loan loss provisions as it set aside EUR 2 billion (USD 2.14 billion) for legacy shipping assets. The high loan loss provisions for shipping loans emerged amid the ongoing difficult development of the shipping market, while general loan loss provisions of EUR 237 million were simultaneously […]

  • 21 March 2017
    Business & Finance

    German HSH Nordbank has provided Singapore’s containership owner and operator Rickmers Maritime with a deadline- April 15, 2017 – to present a concept that ensures a “higher level of total recoveries” than under a winding-up scenario of the firm.  Following discussions between the duo, HSH Nordbank has not accepted any “specific proposal” of Rickmers Maritime for […]

  • 5 July 2016
    Business & Finance

    Hamburg-based banking company Joh. Berenberg, Gossler & Co. (Berenberg Bank) has secured some USD 500 million in private equity funding which would be invested in shipping loans, Bloomberg reports. At the end of June, the bank entered a memorandum of understanding with an undisclosed international investment company, to support some 400 shipping firms. Berenberg’s head of shipping, […]

  • 25 February 2015
    Business & Finance

    German shipowner Ahrenkiel Steamship has bought eight container ships from HSH Nordbank’s Nautilus credit portfolio. The parties involved have agreed not to disclose the exact purchase prices of the vessels and the identities of the sellers; however, the total value of the transaction is in the three-digit million US dollar range. The portfolio comprises of four 4,300 […]

  • 14 September 2015
    Business & Finance

    Indian-owned dry bulk specialist Mercator Lines (Singapore) Limited has asked the Singapore High Court for a stay of proceedings against the company to oppose an application filed on September 10 by its creditor – the Singapore branch of HSH Nordbank AG –  which would place the company under judicial management. Mercator Lines has also asked the court for leave to convene meetings of […]

  • 1 June 2017
    Business & Finance

    Maritime services provider Rickmers Holding is facing insolvency after HSH Nordbank AG denied approval to the term sheet dated April 19, 2017 and rejected further negotiations of the restructuring. As a result, the term sheet, on the basis of which the bondholders’ meeting was convened, cannot be implemented anymore. According to the assessment of the management board […]

  • 23 October 2014
    Business & Finance

    German shipping banks Commerzbank AG (CBK), HSH Nordbank AG and Norddeutsche Landesbank Girozentrale are among 130 banks undergoing a review by the European Central Bank (ECB) to check their financial stability. The three banks have been clogging shipping debts as struggling container companies sought after loans to compensate for low freight rates. Preliminary findings say […]

  • 27 January 2015
    Business & Finance

    Hamburg-headquartered HSH Nordbank is ramping up the efforts to shed EUR 1.5 billion (USD 1.7bn) of bad shipping loans accumulated over a seven-year slump in the industry by finding shipping companies that would take over ships from defaulting debtors, German business and finance newspaper Handelsblatt reports. HSH Nordbank will try to use the same model applied on the […]

  • 28 February 2018
    Business & Finance

    Sale of German shipping lender HSH Nordbank finalized.

  • 10 April 2014
    Business & Finance

    As expected, high loan loss provisions resulting from the difficult situation on the shipping markets as well as substantial expenditure for the guarantee provided by the federal states of Hamburg and Schleswig-Holstein led to a loss in the nine-digit range. Due to the persistently tense situation in the shipping sector, HSH Nordbank does not expect freight […]

  • 27 January 2017
    Business & Finance

    German HSH Nordbank has reached an agreement to sell a part of its loan portfolio in the amount of EUR 1.64 billion (USD 1.75 billion), according to Reuters. As part of its privatization process, the bank, one of the biggest providers of shipping finance, is looking to offload a total of EUR 3.2 billion worth […]