Notably, the bank was a top lender to the global shipping industry and its Greek office played an essential part. German Banks, which provide around 25% of the worlds $400 billion of outstanding shipping debt, are making efforts to recover the loans offered. Similarly, several other lenders have resorted to ending or scaling back their exposure toward such loans. Deutsche Bank AG DB is one among the German banks, with some of the biggest portfolios of troubled shipping loans. Notably, nearly 90% of the world trade is conducted through transportation by sea route. However, the shipping industry is in its deepest downturn on record, due to sluggish international trade and declining freight rates stemming from too many industry participants.
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