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Banks prepare for next round of consolidation in multipurpose

In December, the two major Dutch banks ING and ABN Amro forced the first large-scale consolidation through in the ailing multipurpose sector. Now the market is waiting on what the banks will do next in the German hub for specialized vessels. Drewry eyes slight improvement in late 2017.

After the two major banks ING and ABN Amro withdrew financing from the Dutch multipurpose operators Flinter Group and Abis Shipping in late 2016, the next move in the consolidation wave for project vessels will likely take place in Germany.

This is the general assessment in the German shipping sector speaking to ShippingWatch about the process orchestrated by German banks to limit losses on the specialized vessels, which are harder hit than the traditional bulk industry and which have poor prospects of significant improvement in the market over the next several years.

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