Shipping bank HSH Nordbank is due to wind down
its €800 million container leasing operation as part of wider cost
cuts across the whole business.
its €800 million container leasing operation as part of wider cost
cuts across the whole business.
Global head of transportation, Mathis Shinnick,
said the container leasing division had been “a good business”, but
that no new contracts would be written and that HSH would be making
“a gracious exit” from all but a few key client
relationships.
said the container leasing division had been “a good business”, but
that no new contracts would be written and that HSH would be making
“a gracious exit” from all but a few key client
relationships.
The leasing cuts take place as HSH seeks to
reduce head count by 1,100 and halve the group’s €115 billion asset
base by 2012.
Shinnick said these scale-backs will also
impact other parts of his €13 billion aviation, infrastructural and
rail leasing arms, but were unlikely to include its stake in a
joint venture with KfW IPEX-Bank in Railpool, a growing player in
European rail leasing. No decision will be made until state
shareholders, Hamburg and Schleswig-Holstein, had spoken with
parliament in late March, Shinnick made clear .
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