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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.
Photo: HSH Nordbank
Photo: HSH Nordbank
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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