ShippingWatch

German banks trapped with expensive ship contracts

Struggling German shipping banks have been locked in for years by expensive vessel contracts with management companies which have hindered the banks from selling out of vessels. This could now change, sources tell ShippingWatch.

Photo: Hafen Hamburg

Major change could be headed for the German shipping cluster.

Many lucrative contracts for German ship management companies, which were signed before the financial recession and hit the international shipping industry as well, are starting to expire.

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