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MAN pays back USD 8 million in engine fraud case

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MAN Diesel & Turbo will pay back USD 8 million to Norwegian carrier Skaugen in the protracted fraud case related to diesel engines which used more fuel than stated in contracys. "MAN Diesel & Turbo SE has substantial outstanding claims against Skaugen," says MAN in a comment to ShippingWatch.

Danish businessman at the center of controversial oil trade in West Africa

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What at first looked like an ordinary oil trade in West Africa has developed into a court dispute in London, Dubai, and Lagos. ShippingWatch has reconstructed the events which involve Danish businessman Jesper Øhlenschlæger, tax shelter company Nordic Oil & Gas, bunker company Endofa, and tanker carrier d'Amico International Shipping.

Last week's top stories on ShippingWatch

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Several EU member states, including Denmark, are currently having their state subsidies to carriers and maritime businesses scrutinized, while John Fredriksen's efforts to take over DHT continue. And ShippingWatch was present at the major shipping conference in Singapore this week.

This week's top stories on ShippingWatch

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J. Lauritzen's bondholder dispute was resolved, the carrier relying on money from its owner. More details emerged about the EU approval of Maersk's takeover of Hamburg Süd. And Rickmers Maritime had to throw in the towel. Keep up with this week's top stories on ShippingWatch.

This week's top stories on ShippingWatch

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Significant resignations at J. Lauritzen, large deficits from Hapag-Lloyd and the rest of the container sector, the Maersk Group General Assembly, and massive volumes of oil left on two sunken Maersk vessels featured among this week's top stories.

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.

Svitzer's growth in Asia lower than expected

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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.

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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