ShippingWatch

German shipping banks have outplayed their global lead

After yet another year of huge losses in shipping for German banks, two former bank executives tell ShippingWatch that they believe the previously dominant German sector in the shipping industry will play a marginal role going forward.

German NordLB, which has taken over Bremer Landesbank, had to allocate EUR 2.9 billion to ship financing in 2016.

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Maersk vessels sailed under black-listed flag for final journey

Four vessels from Maersk Line sailed under black-listed flags, when on the way to be scrapped along the coast of Alang, India. The out-flagging occurred after the group sold the vessels to cash buyers. Seafarers risk paying the price, says an NGO and union.

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