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News on Germany.

German banks trapped with expensive ship contracts

Struggling German shipping banks have been locked in for years by expensive vessel contracts with management companies which have hindered the banks from selling out of vessels. This could now change, sources tell ShippingWatch.

Tax breaks make shipowners flag German again

Germany's new tax rules, which include a net wage scheme, have spurred heavy lift carrier SAL to return six vessels to German flag, the carrier tells ShippingWatch. "The rules are starting to have a certain effect," says the German shipowners' association.

Germany's NSB enters Indonesian joint venture

German shipping group NSB has joined forces with Indonesia's Temasline to form a joint venture based in Indonesian capital Jakarta, thus growing its operated fleet to 96 vessels. None of the vessels are currently sailing under German flag.

Hanseatic Unity brings in new partners

German shipping cooperation Hanseatic Unity, which includes major players such as Bernhard Schulte, has brought in two new partners and will now have a combined fleet of 233 ships.

Claus-Peter Offen will spearhead German consolidation

Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.

Hamburg Süd's culture is facing a major transformation

The culture at Hamburg Süd is born at the intersection of independence and an anchorage in the habits of a German industrial dynasty, among these not to open the doors to the public. With Maersk Line's acquisition, one question in particular becomes pertinent.

Rickmers Holding working to settle restructuring

Rickmers Holding is still working to settle a new restructuring after the company filed for insolvency at the court in Hamburg last week. The company's insolvency is "a blow to the German maritime cluster," says the German Shipowners' Association.

MPC Container Ships continues fleet expansion

MPC Container Ships adds another three container ships to the company's growing fleet. With the latest acquisitions, the newly-established shipowner now owns 11 feeder vessels, all geared towards the feeder market.

Lloyd Fonds: Endgame underway for shipping in Hamburg

There are no real values of note in the German shipping sector right now, according to Lloyd Fonds. The company is scaling down its investments in the segment and would prefer to be on the sideline of what CEO Torsten Teichert describes as the endgame in Hamburg.

Media: New buyer in the running for HSH

A new buyer has entered the field as potential buyer of HSH Nordbank, according to the German business media Handelsblatt. The bank has been put up for sale after years of poor results, in particular due to its shipping investments.

Rescue plan for Rickmers Group met with opposition

Bondholders are uncertain about the rescue plan proposed by German shipping company Rickmers Group aimed at securing continued operations. The plan includes Chairman Bertram C. Rickmers surrendering control of parent unit Rickmers Holding.

Marenave settles deal with new investors

Offen Group and a German insurance company inject fresh capital into struggling Marenave Schiffahrts. The shipowner thus buys more time in the efforts to dodge a looming insolvency. Fleet divestments could still be necessary.

Shipping crisis weighs down Commerzbank again

Even though Commerzbank has been working for years to reduce its shipping portfolio, the sector hit the bank hard again in 2016, resulting in considerable loss provisions, shows the bank's annual report.

German union demands job guarantee from Maersk Line

A union organizing numerous Hamburg Süd employees now lists four concrete conditions for Maersk Line. Most significant seems to be a job guarantee for the employees at the German carrier. But there will be layoffs, projects analyst.

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