HSBC sells shipping unit

Other Service Providers

Friday, August 03, 2012

HSBC Bank said Thursday it has agreed to sell its shipbrokering consultancy arm, HSBC Shipping Services Ltd., to the division’s management team, according to a report by Reuters . The report noted HSBC has been pulling back from unprofitable business units as part of three-year recovery plan, having sold 28 businesses. HSBC Shipping Services will be renamed Hartland Shipping Services, with the spun-off company likely to provide shipping-related valuation and cons...

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