Billion Dollars of Unpaid Loans in Shipping Sector

German shipping investment that once helped shape the world’s maritime operations is in retreat.
Years of steep losses lead to many of the country’s biggest banks to abandon ship financing altogether.
The number of German-owned oceangoing vessels has declined by nearly half over the past decade.
Meanwhile, financial backing in bigger maritime powers including China, Greece and Singapore is giving competing owners more flexibility to renew their fleets.
As they look to invest in a new...