This is how shipping fortunes developed in 2015

2015 was a rough year for the shipping industry with the plunge in the oil price and not least the pressure from declining global trade. Forbes has released its annual review of the world's billionaires. Read here how things went for the most affluent figures in shipping.

The shipping markets were under severe pressure in 2015 where the oil price continued its decline and the dry bulk industry really had to dig in its toes. Forbes just released its list of the world's 500 richest people, where the development for some of the wealthiest people in shipping and transport is outlined. Here is a selection.

At the top is 78-year-old Klaus-Michael Kuehne who ranks at number 103 on the list with a fortune of USD 10 billion. He is currently the 9th richest person in Germany and has maintained his spot at number 103 from last year, according to Forbes. Klaus-Michael Kuehne became part of his grandfather's logistics company Kuehne + Nagel back in 1958 and took over as CEO in 1966. Through his holding company, he currently owns 53 percent of the listed company. He has stepped down as chairman of the board, but currently holds the title of honorary chairman of the board.

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