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In Conversation with Dagfinn Lunde, DVB Bank

Marine Money talks to Mr. Dagfinn Lunde, Member of the Board of Managing Directors at DVB Bank in Singapore, and hears his views on China, the current developments in global ship finance and the bank’s lending policies. Here are some excerpts.

Marine Money: Do you think the worst is over for shipping?

Mr Lunde: I would say the worst is over. December 2009 was basically the deepest point and clearly the picture looks better today. The demand side in shipping is fine, but we are still concerned with the problem of oversupply, particularly the larger dry bulk ships. In general, most of the segments except container boxes are in oversupply. We have too much shipping capacity at the moment and the reality is that we have more than three times as much capacity in the shipbuilding industry than what is needed for vessel replacement at a normal level. That is a dramatic situation ahead of us.

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Written by: | Categories: Asia, Market Commentary | February 10th, 2011 |

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