FREQUENTLY ASKED QUESTIONS (FAQ)

How can we help you? Look here for the most frequent requests.

WHAT IS A PANAMAX / SUB-PANAMAX- CONTAINER VESSEL?

Sub-Panamax and Panamax are medium-sized container vessels which were already able to travel through the Panama Canal prior to its widening. Post-Panamax and Super-Post-Panamax make up the second largest container vessel category for the transport of large volumes of containers and can call at only a few large ports.

WHAT IS A HANDY / HANDY-MAX CONTAINER VESSEL?

Handy and handy-max are smaller container vessels with shallow draught. They are suitable for smaller ports that cannot be called at by larger container vessels.

WHAT IS A FEEDER / FEEDER-MAX CONTAINER VESSEL?

Feeder and feeder-max are smaller vessels serving as feeder and distributor of containers and cars for large seagoing ships and seaports, where the routes are not navigable or are uneconomical for large ships.

HOW WAS THE MARKET VALUE OF THE PORTFOLIO DETERMINED?

From the point of view of budgetary law, the states of Schleswig-Holstein and Hamburg engaged their own auditor.To verify whether the market value of the loan portfolio as at 30 June 2016 on the basis of the documents provided by Hamburg Commercial Bank (formerly HSH Nordbank AG) reached at least the figure of EUR 2,426,724,041.42 which resulted from the figures determined by the European Commission. On 30 June 2016, the auditor reported: “According to our assessment on the basis of the findings of our audit, the market value of the credit portfolio as at 30 June 2016, based on the documents provided to us in the Hamburg Commercial Bank (formerly HSH Nordbank AG) data room, amounts to at least the value of Euro 2,426,724,041.42 which resulted from the figures determined by the European Commission.” The transaction was thus lawful from both the State Aid and budgetary law points of view.

HAS THE SCOPE OF PORTFOLIO TRANSFER BEEN FULLY UTILIZED BY HAMBURG COMMERCIAL BANK (FORMERLY HSH NORDBANK AG)?

Hamburg Commercial Bank (formerly HSH Nordbank AG) has so far not fully utilized the scope for portfolio transfer granted by the European commission. At a later time, a further sub-portfolio with a receivables volume of up to about 1.2 billion euros (in terms of the EAD as at 31 December 2015) could be acquired. The market value of this additional portfolio would then have to be determined separately, as the transfer values determined by the European Commission ceased to be relevant on 1 September 2016.