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Covid and high rates gave German wind-down agency a solid profit

Good times in shipping positively affected the 2021 earnings of a German wind-down agency following the crisis at shipping bank HSH Nordbank.

Photo: Daniel Bockwoldt/AP/Ritzau Scanpix

Company Portfoliomanagement, a wind-down agency after Northern German shipping bank HSH Nordbank, came out of 2021 with a net profit of no less than EUR 561m, according to a statement.

This solid profit is due to the upswing in the shipping industry coming in the wake of the Covid-19 pandemic and heavy bottlenecks in global supply chains.

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