Latest news from Heavy Lift & Project Forwarding International Magazine

EC approves German bank sale

The European Commission (EC) has approved the privatisation of German state-owned HSH Nordbank to a consortium of private equity funds led by J.C. Flowers and Cerberus.

HLPFI reported in March 2018 that a consortium of private investors would acquire HSH Nordbank for approximately USD1.2 billion. The EC said HSH Nordbank is being sold to the bidders with the highest and most credible offer, in an open and transparent process that resulted in a positive price. Under its new ownership's business plan, HSH Nordbank is expected to return to viability, said the EC.

Commissioner Margrethe Vestager, in charge of competition, said: "The German authorities have found a sustainable solution for HSH Nordbank that avoids the need for further public support for the bank. On the basis of the new private owner's business plan, HSH can become a viable market player, continuing to support economic development in Germany.”

europa.eu

www.hsh-nordbank.de

Heavy Lift | News

UAL's Caribbean expansion thumbnail image

UAL's Caribbean expansion

December 14 - Universal Africa Lines (UAL) will introduce a direct liner service connecting Europe with the Caribbean and the north coast of South America.
Views: 540
Hansa Heavy Lift files for insolvency thumbnail image

Hansa Heavy Lift files for insolvency

December 10 - Years of rumours and hearsay came to a dramatic climax today following confirmation that Hansa Heavy Lift has filed for insolvency.
Views: 3051
BIMCO launches bunker clauses thumbnail image

BIMCO launches bunker clauses

December 10 - BIMCO has launched two sulphur content related bunker clauses: BIMCO 2020 marine sulphur content clause for time charter parties; and BIMCO 2020 fuel transition clause for time charter parties.
Views: 798

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.