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
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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 outstanding shipping loans, three shipping financiers told Reuters.
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