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PwC: German shipowners will cooperate their way out of the crisis

German shipping faces a wave of cooperations and alliances, according to a study by accounting and consulting agency PwC. A partner at the company expects that Maersk Line's new P3 Alliance will be rejected by the authorities.

As much as half of the German shipping companies are planning to enter alliances with others - or are planning to strengthen existing alliances - in the coming months.

A study performed by accounting company PwC among 100 German companies, including shipowners and operators, shows that 40 percent are already participating in close cooperations. A development that will grow, says  Claus Brandt, partner and shipping expert at PwC, to news bureau Reuters.

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