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Italian shipbuilder Fincantieri back in black for 2016

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Strong developments in the cruise business sends Italian shipbuilder Fincantieri into the black for 2016, though the crisis in offshore continues to weigh down the group. Fincantieri "has left behind the longest sector crisis on record," says CEO.

DVB: Shipyards deflating the shipping economy

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Even though some of the Asian and, especially, South Korean shipyards are cutting costs, production capacity available at yards in Asia represents a fundamental challenge for the economy in the shipping sector, with an equilibrium being far off, DVB tells ShippingWatch.

Lightship Chartering bets on London with new office

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Shipbroker Lightship Chartering will open a new office in London and plans to have 20 employees in the UK capital within the next three years. The first quarter this year was broker's best since 2009, Chairman Morten Have tells ShippingWatch.

Last week's top stories on ShippingWatch

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Shipowner Johan Wedell-Wedellsborg opened up about the sale of Stena Weco to Stena Bulk, Maersk Group CEO Søren Skou is building a new CEO Office, and the dry bulk shares have skyrocketed in 2017 so far. Here are this week's top picks on ShippingWatch.

HSH Nordbank has scaled down container exposure

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HSH Nordbank has reorganized its shipping portfolio and has thus significantly reduced its exposure to the container segment. Christian Nieswandt, global head of shipping, tells ShippingWatch about the future prioritization for the billions of euros the bank has invested in shipping.

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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.

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Last week's top stories on ShippingWatch

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Trendsetting companies in sectors such as tanker presented financial reports, APM Terminals opened up about the future partnership with Maersk Line, and we got to know a shipping company which usually subscribes to a great degree of discretion. This week's top picks on ShippingWatch.

Shipping investors will fill the gap left by the banks

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A series of renowned shipping names, including Blystad Group, are behind the new company Maritime Asset Partners, which will offer alternative financing to shipping companies. USD 150 million are ready to be invested. "We can raise more money according to our needs," head of the company Nick Roos tells ShippingWatch.

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Avance Gas will stay in its own lane

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The downturn in the LPG market in 2016 took Avance Gas by surprise – and 2017 looks bleak as well. The company plans to remain calm in terms of consolidation and acquisitions until the market has improved, says CFO Peder C. G. Simonsen, to ShippingWatch.

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This week's top stories on ShippingWatch

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Perhaps Maersk Line can expect a positive result in its interim report, set for release next Wednesday. The battle for the ballast water market has begun. John Fredriksen struggles with two separate issues. And Shipping and offshore are hurting banks. Read this week's top picks on ShippingWatch.

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Danske Bank and DNB hit by oil slump in 2016

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The two major Nordic banks Danske Bank and DNB increased their impairments related to loans to the oil sector in 2016. Danske Bank is pleased with the rising oil price, but the bank expects that it will take time for the stabilization to benefit the subcontractors.

Class NK has approved more Alang shipbreakers

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Three new shipbreaking facilities in India's coastal Alang region now comply with the Hong Kong Convention. This means that there are now seven certified scrapyards in the region, classification bureau Class NK tells ShippingWatch. The newly certified yards include one facility that Maersk will use in the near future.

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Container downturn impacts OMT

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More than six months without orders for new container ships have not gone unnoticed at Odense Maritime Technology. In an interview with ShippingWatch, CEO Kåre Groes Christiansen explains his expectations for the market, where he still eyes opportunities in niche areas.

Media: RBS has divested shipping loans

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Royal Bank of Scotland has, according to Reuters, divested parts of shipping loan portfolio. Sources tell the news agency that the bank has sold loans to Greek buyers in particular for EUR 600 million. The bank declines to comment on the story.

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Dutch shipbuilder raided by tax authority

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Damen Shipyard, the largest shipbuilding group in the Netherlands, was subjected to a dawn raid this week by the country's tax authority. According to several media reports, the raid is part of investigations into a case related to corruption and bribes.

Wärtsilä to bet on engine sales for Chinese vessels

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An engine factory will strengthen and upscale Wärtsilä's position as supplier of engines for the Chinese shipbuilding industry. In spite of the yards being under pressure, the supplier eyes a big market for, in particular, vessels for Chinese companies, says James Han, managing director of Wärtsilä China, to ShippingWatch.

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Svitzer's growth in Asia lower than expected

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.

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