KG shipping funds and Iranian Arms Shipments
An increasing number of KG shipping funds, which are popular among German professionals such as doctors, dentists and lawyers seeking tax breaks, are thought to be close to collapse as funding dries up. Peter Döhle Schiffahrts KG lists the containership Francop as part of its box fleet. The depth of the crisis was highlighted by confirmation that Peter Döhle Schiffahrts, one of the world's largest charter shipowners, has applied for loans from a government fund set up to help companies survive the global economic downturn. German container shipowners, who control a third of the world box ship fleet, are facing increasing financial difficulties and the threat of bankruptcy as charter rates test fresh lows with the end of the peak shipping season. An Israeli special forces squadron captured the Francop flying the Antiguan flag near Cyprus, containers with hundreds of tons of rockets, missiles and ammunition destined for the Hizbullah were captured.