EuropeFinance and Insurance

HSH Nordbank’s bad shipping loans will take a decade to wind down

It will take at least a decade for Hamburg’s HSH Nordbank to wind down its EUR5bn of shipping loans, the bank’s state owners have warned.

Ulrike Helfer, a former DVB Bank shipping banker, joined HSH yesterday as co-head.

The bank is controlled by the German states of Schleswig-Holstein and Hamburg.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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