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HSH Nordbank in shipping sale in critical market

German HSH Nordbank must sell faulty loans worth more than USD 2 billion at a time when Chinese markets are creating even more turbulence for shipping. The bank's CFO does not fear the upcoming sales, however, writes Bloomberg.

2016 has not brought relief for most shipping segments, as turbulent conditions on the Chinese markets are increasing pressure for most players. Still, German shipping bank HSH Nordbank does not fear that the markets will ruin the bank's attempt to sell bad loans in shipping and real estate worth USD 2.2 billion, in accordance with the deal between the bank and the EU.

CFO of HSH Nordbank, Stefan Ermisch, highlighted this point in an interview this week, writes Bloomberg.

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