The true state of shipping cannot truly be appreciated by looking at seafarers or ships, the real picture is painted by bank balances, debts and investor confidence – welcome to commerce.
And the current state of the industry is pretty poor, especially within German KG-funded single-ship companies. According to reports, HCI Capital has reported its 51st insolvent KG-funded single-ship company.
The vessel has been named as Amanda, a 2005-built general cargoship with 205 teu container capacity.
While the company denies some reports that 56 of its ships had gone under, there is clearly a dark cloud over the finances, and the HCI fleet which is understood to number around 270 ships.
HCI Capital is part owned by Peter Döhle Group, who are the dominant shareholder with 31%, alongside HSH Nordbank with 20% and Ernst Russ with 16%.