World shipping crisis threatens German dominance as Greeks win long game

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By Gavin van Marle

15/08/2012

Here come the Greeks. As Germany’s non-operating containership owners face tightening financial restrictions as a result of major German ship finance houses deciding to leave the sector, Greek ship owners are stepping in to snap up some bargains and acquiring new, large tonnage at knock-down prices. What the world clearly needs is less shipping capacity, not more, but more is likely to be what we get while shipyards are desperate to continue building.

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