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Alfred Hartmann new head of German shipowners

Experienced shipowner Alfred Hartman will guide German shipping through a critical period.

Alfred Hartmann (photo, right), owner of Hartmann Group, has been appointed new president of the German shipowners' association VDR, Verband Deutscher Reeder, replacing Michael Behrendt (left) of Hapag-Lloyd.

The new president is a well-known figure in German shipping. The country's shipping industry is currently in a slump and has been hit especially hard by the global financial crisis due to the German banks' massive exposure to shipping and the collapse of the so-called KG scheme, which has over many years induced thousands of private investors to invest in newbuildings. A tax beneficial system that made Germany one of the world's biggest shipowners.

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