Media: HSH drops efforts to sell shipping loans

HSH Nordbank's shipping loans will go on sale in a later divestment round, after the bank failed to get rid of the loans in an initial firesale of its non-performing loan portfolio. There is little appetite for shipping out there, says a source to Reuters.

by LOUISE VOGDRUP-SCHMIDT

As part of a privatization process, major German bank HSH Nordbank is currently attempting to divest of its loan portfolio worth EUR 3.2 billion, of which EUR 500 million includes shipping industry loans.

While the bank is likely about to seal the deal for other parts of the portfolio, the shipping loans will miss out this time around, writes Reuters.

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