German shipping is heading for a "deep crisis" that poses a risk to the survival of a large number of companies.
That is the bleak message from the country's shipowners association, VDR, which has revealed the severe effects of the coronavirus pandemic through a survey of its members.
The organisation warned the pandemic could have more serious consequences than the 2008 financial crash — and could even put the country's role as a shipping location in jeopardy.
