ShippingWatch

German carriers are survivors – but 12 years of crisis continue to cast shadows

Large parts of the German shipping industry are doing historically well at the moment, but the sector’s breakdown during the financial crisis continues to make it a challenge for many small carriers to borrow money and recruit, says German Shipowners’ Association President Gaby Bornheim.

Photo: HHLA / Martin Elsen/HHLA

The vast majority of shipping companies in the German sector consist of small, privately owned carriers which proved exceptionally resilient during the 12-year downturn in German shipping that followed the financial crisis of 2008.

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