Germany
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Europe
Hapag-Lloyd shareholders pave the way for UASC merger
Hapag-Lloyd shareholders on Friday approved all items on the AGM agenda, paving the way for the merger with Middle Eastern…
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Europe
Rickmers brothers nix joint shipmanagement plans
The Rickmers brothers have decided not to join forces in shipmanagement. The two have been discussing since April a plan…
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Europe
Nord L/B’s shipping impairments ‘higher than planned’
Nord L/B has increased its provisions for bad loans to €1bn ($1.1bn), almost five times higher than expected as the…
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Middle East
UASC posts biggest operating loss of any major container line
United Arab Shipping Company (UASC) has posted its financial figures publically for the first time, revealing a -9% operating loss…
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Europe
Vogemann launches OPEX guarantee scheme
Germany’s H. Vogemann shipping group has launched an operating expenditure (OPEX) guarantee scheme for owners of dry bulk and multipurpose…
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Europe
Nord/LB sells shipping portfolio worth $1.5bn
Nord/LB Norddeutsche Landesbank has agreed to sell a portfolio of its performing and non-performing shipping loans originated by Nord/LB to KKR…
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Europe
Briese and Auerbach join forces
Germany’s Briese and Auerbach shipping companies have formed a strategic alliance to mitigate the downturn. Both companies will cooperate more…
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Asia
Wilmar snaps up supramax for $7m
German owner Schepers H Bereederungs has sold a six-year-old supramax bulker for $7m. Singapore’s Wilmar International is behind the acquisition…
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Europe
HSH taps finance veteran to handle toxic loans
Ship finance whizz Ulrike Helfer has been appointed to head up hsh portfolio-management AöR, the entity to which HSH Nordbank transferred…
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Contributions
Hamburg and Amsterdam can take on London’s shipping role
Ralf Browatzki from AMB Executive Search argues Hamburg and Amsterdam are the best placed shipping cities to win from Brexit.…
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Containers
Hapag-Lloyd cuts financial outlook
German containerline Hapag-Lloyd has revised downwards its predictions for the current financial year citing “weaker than expected” freight rates. In…
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Europe
Deutsche Bank ‘interested’ in buying RBS’ Greek shipping portfolio
Deutsche Bank has expressed interest in buying some or all of the Royal Bank of Scotland’s (RBS) $3bn Greek shipping…
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Finance and Insurance
UASC may sell chemical tanker unit UACC
United Arab Shipping Co (UASC) is considering the sale of its stake in United Arab Chemical Carriers (UACC) as part of…
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Europe
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…
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Europe
Deutsche Bank to sell at least $1bn of shipping loans
Deutsche Bank is to sell at least $1bn of its loans to the shipping industry, in response to mounting pressure…
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Europe
Berenberg and private equity start $500m shipping fund
Germany’s oldest bank Joh. Berenberg Gossler & Co has created a $500m fund with an unnamed private-equity investor to jointly…
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Containers
Marenave Schiffahrts must start repaying ship loans again
Eight of Marenave Schiffahrts’ single-ship companies must begin making repayments to their banks, following the expiry of a six-month extension…
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Europe
HSH Nordbank offloads non-performing shipping loans
HSH Nordbank has announced that it has transferred a portfolio of non-performing loans from its ship finance portfolio totalling EUR5bn…
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Containers
UASC shareholders approve merger with Hapag-Lloyd
United Arab Shipping Company (UASC) has announced that its six shareholding states has approved a merger deal with German container…
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Containers
Hapag-Lloyd and UASC agree a merger
Container lines Hapag-Lloyd and United Arab Shipping Company (UASC) have agreed on the terms of a merger. All shares would…
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