Offen's massive container fleet shrinks again

Claus-Peter Offen was until recently the world's biggest owner of container ships. Now six of the company's container ships have been declared insolvent.

The news that six KG-financed container ships in German Reederei Claus-Peter Offen's fleet - which the company has also invested in - have been declared insolvent could lead to renewed speculations about the carrier's financial state, like other German shipowners who, through complicated financial constructions, continue to own a big part of the global container fleet.

German NOO companies currently control 51 percent of the total capacity in the charter market, but their share is declining, according to the latest numbers from analysts Alphaliner in July 2014. The share declined from 61 percent to 51 percent since 2008, and German owners' share of the combined orderbook in the product tanker market currently stands at a mere 8 percent.

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