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PwC: Small German shipping companies will fade

The small German shipping firms are likely to disappear due to a lack of funding, says accounting and consulting firm PwC.

Photo: Hamborg Havn

The future looks dark for minor German shipping companies, says accounting and consulting firm PricewaterhouseCoopers (PwC) according to Bloomberg.

It is especially due to several North European banks’ retreat from the shipping market, including Germany’s Commerzbank and HSH Nordbank, and the fact that Chinese loan providers’ shy away from minor companies in favor of the bigger ones.

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