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New Nordic shipping bank opens in a few days

Suppliers:

Several high profile Norwegian shipping and business people are behind the new shipping bank Maritime & Merchant, which will be announced in a few days after years of preparation, CEO Halvor Sveen confirms to ShippingWatch.


BY OLE ANDERSEN
Published 12.12.16 at 15:32

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DSME bags first order of the year

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South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has won its first order this year, reports Korea Herald. The order for two vessels hits a dry spot for the yard which is in the midst of dire financial woes.

Shipbuilder Daewoo weighs options ahead of April debt deadline

Suppliers:

Daewoo Shipbuilding & Marine Engineering is looking into its options to prepare for the maturation of massive debt in April, and the company is in talks with certain customers, the CEO tells Korean media. The yard faces close to USD 900 million in debt maturing this year.

Media: DSME could get more state aid

Suppliers:

According to a news media, South Korea's government could be on track to inject upwards of KRW 3 trillion into ailing Daewoo Shipbuilding & Marine Engineering, which published its results on Wednesday this week.

Media: Daewoo employees prepared to take pay cut

Suppliers:

The employees at Daewoo Shipbuilding & Marine Engineering are prepared to discuss reduced wages in an effort to save the ailing shipyard. Employee union will now meet with management, reports Korea Herald. The yard could be facing huge state assistance.

South Korea's top shipbuilders exit 2015 with record loss

Suppliers:

The country's three biggest shipbuilders looks set to note an all-time high combined loss in the past year. If this holds, it will be the first time that all three yards book simultaneous deficits. And 2016 looks bleak.

Monjasa risks exclusion from bunker association

Suppliers:

Monjasa seemingly faces exclusion from the International Bunker Industry Association IBIA after the fraud conviction. "I expect that the board will discuss the situation soon," says Chairman Robin Meech to Finans and ShippingWatch.

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Hapag-Lloyd: 2016 was "not satisfactory"

rolfhabbenjansen.jpg Container:

"The bottom line is still that this result is not satisfactory," says Rolf Habben Jansen, CEO of Hapag-Lloyd, which has just published its report for last year. 2017 also saw a tough start for the carrier.

Ultrabulk delivers yet another profit for 2016

Bulk:

Chilean-owned but Denmark-based Ultrabulk can, unlike many of its competitors, present yet another profit in its books for 2016. Speaking to ShippingWatch, CEO Per Lange describes 2017 as a year which showed several positive trends for dry bulk.

Wilbur Ross' ownership of Diamond S under scrutiny

Tanker:

Several critical observers question US Secretary of Commerce Wilbur Ross' continued ownership of product tanker carrier Diamond S Shipping. The carrier's ties to China in particular are being criticized by ethics experts who point to possible conflicts of interest.

Arkon Shipping bags capital from new major shareholder

Bulk:

Logistics group Rhenus has bought 40 percent of German shortsea and MPP carrier Arkon Shipping, and the two are establishing a joint investment unit.

Svitzer's growth in Asia lower than expected

Carriers:

Things have not moved quite as fast in Asia as expected since Svitzer opened office in Singapore in early 2016. The strategy in the region will change when the new overall strategy for Svitzer is settled in the second quarter this year, Managing Director Alan Bradley tells ShippingWatch.

Norwegian offshore carriers finalize merger deal

Offshore:

The merger between Solstad, Farstad, and Deep Sea Supply has now been signed by the three carriers' boards of directors. The new offshore behemoth is thus a step closer to becoming a reality.

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