HSH Nordbank: Only gradual recovery in shipping

German HSH Nordbank turned a deficit into a profit in 2014. Shipping loans still haunt the major lender to the German and the international shipping industry.

Germany's largest shipping bank HSH Nordbank experienced a good 2014 with positive numbers on the bottom line, which the bank expects to continue in 2015.

The bank's total income for 2014 came to USD 978.7 million, a decline from USD 1.5 billion in 2013, which corresponds to a drop of 39 percent. The result came to USD 172.3 million, a big improvement from 2013, where the result landed at a deficit of USD 828 million.

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