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Shipping banks have impaired loans for USD 3.4 billion

Seven banks impaired shipping loans by over USD 3.4 billion last year, shows a report from Bloomberg Intelligence. There are, however, signs of improvement, which is good news for banks such as DNB, ABN Amro, Nordea, and Danske Bank, which altogether have loaned approximately USD 74 billion to the sector.

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Maersk vessels sailed under black-listed flag for final journey

Four vessels from Maersk Line sailed under black-listed flags, when on the way to be scrapped along the coast of Alang, India. The out-flagging occurred after the group sold the vessels to cash buyers. Seafarers risk paying the price, says an NGO and union.

Bulk recovery faster and stronger than expected

Growth in the dry bulk market is surprisingly strong and driven by Chinese appetite for iron ore as well as the large Capesize vessels, assesses JP Morgan ahead of the release of many third quarter reports.

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