HSH Nordbank preparing to sell shipping loans

By the end of the 1st quarter German HSH Nordbank plans to put a new portfolio of the bank's shipping loans up for sale. A previous attempt was abandoned.

Photo: HSH Nordbank

The German shipping bank HSH Nordbank wants to reduce its exposure to shipping and is in the midst of preparing a portfolio of ships that will be put up for sale late in the 1st quarter, says Wolfgang Topp, head of the bank's restructuring unit, to Bloomberg.

This marks the second attempt at divesting loans, where the first attempt - a portfolio worth around 300 million euros - was unsuccessful. 

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