Transport industry 'will feel pain in 2012'

11 January 2012 Last updated at 22:13 ET Help

The transportation industry has been suffering as a result of Europe's debt problems.

According to the German bank DVB, which provides financing for shipping and aviation companies, world trade may shrink by a third.

Its chairman and CEO Wolfgang Driese told Rico Hizon that the situation is unlikely to improve until much later this year.

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