HSH Nordbank sale agreed

Tier 1 bondholders have begun a class action in the District Court of Kiel

The troubled shipping finance bank HSH Nordbank, originally a “land” bank established and owned by the two German states (länder) of Hamburg and Schleswig-Holstein, has finally been sold. It is being renamed Hamburg Commercial Bank

Rickmers Maritime Trust has begun a process to wind up, following the failure of debt restructuring talks

HSH Nordbank has given Rickmers Maritime Trust until 15th April to come up with a revised restructuring plan. Meanwhile, the bank is soliciting Chinese investment

HSH Nordbank is to charter nine 13,100 TEU capacity neo-panamax containerships, formerly operated by the bankrupt Hanjin Shipping Group, to 2M alliance partners Maersk Line and Mediterranean Shipping Co (MSC).

Swedish ferry operator Stena RoRo AB has purchased a number of RoPax ferries from HSH Nordbank Hamburg/Kiel, which is reducing its investments in ship financing