Detained Turkish-Azeri shipowner Mubariz Mansimov is about to lose control of six more ships as his once sizeable fleet dwindles, Turkish media reports.
German interests are moving to take control of six general cargoships of Mansimov’s Palmali Holdings over unpaid debts totalling $27m, according to shipping website denizhaber.net.
In 2006, lender HSH Nordbank, which has been renamed Hamburg Commercial Bank after ejecting the vast majority of its shipping portfolio, extended the loans for the acquisition of the vessels.
