HSBC Bank, the world’s 2nd largest banking and financial services group, issued a statement late in the week that it had reached a deal to sell HSBC Shipping Services Ltd. This is the latest in a series of 28 devestitures for the bank which has also cut 15,000 employees from it’s payroll as part of a three-year recovery plan.
HSBC Shipping Services is the ship broking and consultancy services arm of the bank and, as at 30 June 2012, had consolidated gross assets of US$6.8m.
According to HSBC, the bank will rename the unit “Hartland Shipping Services Ltd” on completion of the sale. Hartland will then be acquired by a new company established for the purpose by the management team and a consultancy agreement will be entered into under which Hartland will provide shipping-related valuation and consultancy services to the HSBC Group on a global basis.
by Kirstin Ridley (Reuters) Newcastle United football club co-owner Amanda Staveley on Monday lost a London High Court battle with a Greek shipping tycoon over a historic debt of nearly...
On Thursday the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced action against financial networks aiding the Houthi forces in Yemen. This aims to choke off...
By Vince Golle (Bloomberg) Shipping costs are rising as hundreds of container ships that typically transit the key maritime artery of the Red Sea and Suez Canal are rerouting after a...
December 30, 2023
Total Views: 1215
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.