HSH Portfoliomanagement (HSHPM) has shouldered hefty losses after inheriting billions of dollars of non-performing loans on a large fleet of containerships.
The fledgling “bad bank” unveiled that its portfolio of 158 containerships helped to push up losses in its first year of operation to around €505m ($594.8m).
In its first annual review, the bank revealed that containerships account for nearly two-thirds of the €4.48bn
