Kormoran was one of the most successful of the German merchant raiders. Prior to Japan's entry in WW2, there was a lot of neutral shipping in the Indian & Pacific Oceans. AMCs on both sides adopted civilian looking liveries in these areas, as modelled here.
Kormoran, HSK-8 or Schiff 41, known to allied intelligence as Raider G, was formerly the Hamburg-America lines' Steiermark. During her year-long cruise in the Atlantic and Indian oceans she was responsible for the sinking of 10 merchant vessels, capturing an eleventh.
On November 19th 1941 HMAS Sydney challenged Kormoran off Western Australia, Kormoran's reply being sufficiently convincing that Sydney closed with the merchant cruiser. When the more powerfully armed light cruiser came into the range of Kormoran's guns and the German raider opened fire. During the exchange of fire HMAS Sydney was sunk, being lost with all hands, while the crew of Kormoran were able to make a more ordered evacuation of their foundering ship, 319 of the 399 aboard reaching safety.