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Shipping pushes HSH toward more state aid

German HSH Nordbank will likely need increased state aid going forward, perhaps as much as EUR 1.3 billion from 2019 to 2025, partly caused by significant losses on shipping loans.

Going forward, HSH Nordbank could need even more state aid than the bank is getting today, says Chairman Thomas Mirow according to Reuters.

The bank is one of the world's biggest lenders to the shipping industry, and a big part of HSH Nordbank's current troubles are caused by massive losses on shipping loans and tax payments.

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