Hanno Tamminga believes shipping has to be sold to German retail investors for what it is — a risky investment.

His company, New Shore Invest, has launched a project to finance a series of small multipurpose (MPP) vessels under construction for German shipowner Reederei M Lauterjung.

In a bid to mark a break with the past, Tamminga is giving potential investors the whole story, warts and all.