The deal by which Navios takes control of 10 idle or underperforming products tankers and boxships for $130m, cutting HSH’s financing exposure from $300m, can be a model for the whole maritime sector, according to the bank.
“We are currently discussing with representatives of the Hamburg shipowners regarding a comparable transaction,” said HSH executive Wolfgang Topp.
HSH says the deal with Navios, and further proposed transactions, provide an “innovative financing structure” that allows the bank to react to the ongoing crisis in the international shipping industry .
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