Navios: Second HSH deal more attractive than the first

HSH Nordbank and Greek-based Navios have now sealed their second deal for struggling vessels in two years. This transaction is more attractive than the first one, says Navios CEO Angeliki Frangou.

BY KATRINE GRØNVALD RAUN

Greek shipping group Navios has sealed a deal with debtors in German HSH Nordbank to acquire 14 vessels facing serious risks of insolvency, says Navios in a statement. The two parties announced the agreement in April, and the agreement has now been finalized. This represents the second transaction since 2013.

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Navios Maritime reduced its deficit in 2014
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HSH Nordbank profit triples in first quarter
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HSH Nordbank sells ten ships to Navios
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