Upbeat German shipowners declare an end to decade-long crisis

German shipowners have declared an end to their decade-long shipping crisis as the exodus of ships from the country recedes.

“We have largely put the crisis that has preoccupied us since 2009 behind us and, in many segments, we have surprisingly also navigated through the pandemic unscathed so far,” Alfred Hartmann, president of the German Shipowners' Association (VDR), said.

He told journalists at its annual press conference on Tuesday that Germany remains the world’s fifth-largest shipping nation and that larger owners were increasingly optimistic.