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German banks count cost of global shipping crisis

They are behind up to a quarter of the world's US$400 billion of outstanding shipping loans
Saturday, September 17, 2016 - 05:50

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German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard.

Frankfurt

GERMAN banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard.

The lenders - among the biggest backers of shipowners over the past 20 years - are behind up to a quarter of the world's US$400 billion of

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