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Rickmers Holding AG, Germany's third-largest shipping firm, files for insolvency after lender HSH Nordbank withdraws its support for the company's debt restructuring plans. The shipping industry in Germany has been facing challenges, including plummeting freight rates and the bankruptcy of Hanjin Shipping. Rickmers Holding's bankruptcy is a significant development, adding to the woes of German shipping companies and investors who own a considerable portion of the global container fleet.
Saturday, 3 June, 2017