Investors in Germany and Japan accounted for almost one third of all newbuildings financing during the boom ahead of the financial crisis in 2008. In 2005 the five countries were responsible for a total financing of USD 34.4 billion, but neither Germany nor Japan have been in the Top 5 since 2008, according to numbers from Clarkson. In Germany's case, the high ranking during the global boom was the result of the country's KG scheme, which provides tax benefits for private investors.