German shipping bank cuts USD 551 million from loans
The merger of three German shipping businesses will likely be just one of a long line of rescue efforts in 2014, headed by HSH Nordbank, among others.
BY OLE ANDERSEN
German HSH Nordbank, one of the world's biggest lenders to the shipping industry, has merged the three German companies Ahrenkiel, MPC, and Thien & Heyenga to cut a major part of its total commitment to struggling German shipping businesses.
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