‘Usual suspects’ snap up insolvent KG-owned vessels

Sales from the German limited partnership market fell markedly in 2014 but 13 vessels have gone to cash-rich owners from Greece, Belgium and Germany so far this year

27 February 2015 0:00 GMT Updated 27 February 2015 0:00 GMT

By Ian Lewis London

Cash-rich owners plundering the German boxship market for secondhand assets are finding that the number of vessels coming up for sale is falling.

Sales from the KG (limited partnership) market dropped by more than two-fifths in 2014.

But the market still managed to produce 13 insolvent vessels this year, with the spoils being shared by cash-rich owners from Greece, Belgium and Germany.