Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
German container shipping company Niederelbe Schifffahrtsgesellschaft (NSB) has announced it will cut 486 jobs by 2017. According to management, NSB has to flag out its remaining 38 container ships in order to prevent bankruptcy. Long-standing negotiations between NSB and trade union ver.di to improve conveying conditions for merchant ships operating under the German flag have not been successful. According to the news source, it costs euro 365,000 pa more to operate a merchant ship with 8,000 standard containers under the German flag than under a foreign 'flag of convenience'.
In Germany, the shipping sector has been suffering from a crisis for seven years.
Eurofound (2014), Niederelbe Schifffahrtsgesellschaft (NSB), Offshoring/Delocalisation in Germany, factsheet number 77988, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77988.