Shipowners' and other investors' many eco-design newbuilding orders could lead to "catastrophic losses" because the value of the existing fleet, which is already low, will be cut in half, while the ships' working lives will typically be reduced from 25 to around 15 years, warns Deutsche Bank CFO Nick Roos.
At a recent conference in Cyprus, Nick Roos drew a bleak picture of the shipping industry and the worst possible consequences for the banks, especially the German banks, which are responsible for a huge portion of the questionable loans in international shipping.
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